LAST UPDATE 19:05
The European Commission issues a yellow card to Greece for not correctly transposing into national law the provisions of a directive regarding the fight against fraud to the detriment of the financial interests of the Union, with the Commission warning that the next step is to refer the case to the Court of Justice of the European Union .
In particular, the Commission decided to send a reasoned opinion to Greece as well as to Cyprus because they did not correctly transpose the directive on combating, through criminal law, fraud against the financial interests of the Union (POS directive) into their national law.
These rules, as the Commission states, on the one hand, increase the level of protection of the EU budget. harmonizing the definitions, penalties and limitation periods of criminal offenses affecting the Union’s financial interests and, on the one hand, laying the foundations for the European Public Prosecutor’s Office (EPPO).
It is noted that the Commission first sent a warning letter to Greece in December 2021 and to Cyprus in February 2022.
After analyzing their answers, the Commission decided that Greece has not correctly transposed into its national law the provisions of the Directive which define “passive bribery” and “public official”.
Furthermore, the Commission held that certain provisions notified by Greece provide for rules that limit the effectiveness and deterrence of sanctions provided for criminal offenses falling within the scope of the Directive.
The Commission also concluded that Cyprus has not fully transposed into national law certain provisions on the definition and liability of legal persons, as well as on Cyprus’ jurisdiction over the offense of money laundering, as required from the directive.
For this reason, the Commission decided to send a reasoned opinion to Greece and Cyprus, which now have two months to respond and correct the shortcomings pointed out by the Commission. Otherwise, the Commission may decide to refer cases to the Court of Justice of the European Union.
