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Commission Refers Greece to EU Court of Justice

The European Commission stated that it has decided to refer Greece to the EU Court of Justice for maintaining investment restrictions in breach of EU rules on the free movement of capital, according to an official announcement.
Moreover, “the Commission considers that investment restrictions in so-called ΄strategic companies΄ impose disproportionate caps on a person’s ability to acquire shares above a certain threshold. The Commission sent a “reasoned opinion” to Greece in November 2008, asking it to comply with EU law. However, Greek authorities have failed to either repeal or amend the contested law.

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