On 23 May the Commission approved under EU State aid rules the restructuring plan of Agricultural Bank of Greece, judging it apt to restore the bank’s long-term viability whilst ensuring it shares the burden of its restructuring and limits the distortions of competition. The plan involves a State recapitalisation of the bank of up to € 1,144.5 million as well as liquidity measures. The bank committed to reduce it its overall assets by 25% during the restructuring period and to improve its efficiency. Read more.