The European Court has fined the Greek government EUR 10m ($11m) for failing to recover state subsidies granted to Hellenic Shipyards.
The state will pay another EUR 7m for every six months it fails to collect the money, Kathimerini reported.
“The ruling was expected and fully justifies the government's decision to put the shipyard under special administration,” said alternate minister for industry, Stergios Pitsiorlas.
In 2015, Greece asked the yard to repay more than EUR 523.3m
Hellenic operates the Skaramangas shipyard.
