The European Commission approved, on September 3, a scheme for the recapitalisation of credit institutions in Greece by the Hellenic Financial Stability Fund (FSF).

The fund’s capital amounts to €10 billion and forms part of the financial support offered to the country by the eurozone and the International Monetary Fund.

"I am satisfied that the conditions under which Greece may use the Fund are in line with the rules of support schemes for the financial sector in periods of crises," said Joaquín Almunia, Commission Vice President in charge of Competition Policy.

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