European Commission
The European Commission has approved the re-introduction of a Greek scheme (known as 'Hercules') aimed at supporting the reduction of non-performing loans of Greek banks, as it does not involve State aid.
'Hercules' scheme
The scheme is a re-introduction of a measure that the Commission initially approved in October 2019 (SA.53519), for a duration of 18 months and prolonged in April 2021 (SA.62242), which expired on 9 October 2022. Greece notified its plans to re-introduce the scheme, which will run until the end of December 2024.
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