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European Union: Court Rejects Compensation of Commercial Banks over Greek Debt

(Feb. 8, 2017) In a decision issued on January 24, 2017, the General Court of the European Union determined that the European Central Bank (ECB) is not obligated to compensate commercial banks for losses they incurred in 2012 from the restructuring of Greek debt. The Court said that the ECB had not broken the law by […]