FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: In their letter of 20 October 2004, the Greek authorities confirm that they initially set the date of 31 December 1999 for the completion of the investment plan. In December 1999, they carried out the first control on the implementation of the plan, which related to the expenses incurred by HSY until 30 June 1999. It turned out that they amounted to GRD 2,7 billion (EUR 8,1 million), which is 17,7 % of the total expenses of the investment programme.
Polish: W piśmie z dnia 20 października 2004 r. władze greckie potwierdzają, że początkowo termin zakończenia realizacji planu inwestycyjnego wyznaczyły na dzień 31 grudnia 1999 r. W grudniu 1999 r. przeprowadziły pierwszą kontrolę postępu realizacji planu inwestycyjnego, która dotyczyła wydatków poniesionych przez HSY do dnia 30 czerwca 1999 r. Okazało się, że wyniosły one 2,7 mld GRD (8,1 mln EUR), co stanowi 17,7 % ogólnych kosztów programu inwestycyjnego.
English: The Commission thus concludes that a private bank would not have accepted to grant this loan. As indicated previously, this is confirmed by HSY’s unsuccessful attempts to raise funds from market economy investors.
Polish: Zgodnie z wcześniejszymi wyjaśnieniami, ten wniosek potwierdzają bezskuteczne próby, jakie podejmowała HSY w celu uzyskania środków finansowych od inwestorów działających zgodnie z warunkami gospodarki rynkowej.
English: Greece also claims that, since ETVA was the shareholder of HSY, it served its interests by providing this loan to HSY. In section 3.1.3 of the present decision, the Commission has already rejected this claim.
Polish: Władze greckie twierdzą również, że ponieważ ETVA był akcjonariuszem HSY, dbał on o interesy stoczni, udzielając jej przedmiotowej pożyczki.. W sekcji 3.1.3 niniejszej decyzji Komisja już odrzuciła ten argument.
English: Since, as measure P2, this loan aimed at financing an investment plan which was a part of a restructuring plan and since it was granted to a firm in difficulty, it should also be considered as restructuring aid covered by Article 5 of Regulation (EC) No 1540/98. It is clear that the measure does not fulfil the conditions laid down in this article.
Polish: Ponieważ, podobnie jak środek P2, niniejsza pożyczka była przeznaczona na finansowanie planu inwestycyjnego stanowiącego część planu restrukturyzacji i została ona udzielona przedsiębiorstwu znajdującemu się w trudnej sytuacji, należy ją również uznać za pomoc restrukturyzacyjną wchodzącą w zakres art. 5 rozporządzenia (WE) nr 1540/98.
English: As regards the amount and the intensity of the aid, the Commission observes that the aid amounted to EUR 25,6 million for a reduction of the workforce by 1000 persons. In 2002, just six years later, the Commission found compatible an amount four time larger for a workforce reduction of a smaller size.
Polish: W odniesieniu do wielkości i intensywności pomocy, Komisja zwraca uwagę, że kwota pomocy na zmniejszenie stanu zatrudnienia o 1000 osób wyniosła 25,6 mln EUR. W 2002 r., zaledwie sześć lat później, Komisja uznała czterokrotnie wyższą kwotę na przeprowadzenie redukcji zatrudnienia na mniejszą skalę za pomoc zgodną ze wspólnym rynkiem.
Slovenian: Kar zadeva znesek in intenzivnost pomoči, Komisija ugotavlja, da je pomoč za zmanjšanje delovne sile za 1000 delavcev znašala 25,6 milijona EUR. Leta 2002, torej samo šest let pozneje, je Komisija ugotovila, da je štirikrat večji znesek, namenjen manjšemu zmanjšanju delovne sile, združljiv.
English: In other words, out of part of the State guarantee constituting aid, GRD 750 million (EUR 2,20 million) — i.e. 25 % of GRD 3 billion (EUR 8,8 million) — is compatible until the payment of the indemnification by the insurers in the first quarter of 2002. After that date, only EUR 1,32 million — i.e. 25 % of GRD 3 billion (EUR 8,8 million) minus EUR 3,52 million — is compatible.
Polish: Innymi słowy, z części gwarancji państwowej stanowiącej pomoc państwa, kwota w wysokości 750 mln GRD (2,20 mln EUR) – tzn. 25 % z 3 mld GRD (8,8 mln EUR) – jest pomocą zgodną ze wspólnym rynkiem do dnia wypłaty odszkodowania przez ubezpieczycieli w pierwszym kwartale 2002 r. Po tym dniu tylko kwota pomocy w wysokości 1,32 mln EUR – tzn. 25 % z 3 mld GRD (8,8 mln EUR) minus 3,52 mln EUR – jest zgodna ze wspólnym rynkiem.
English: This fact appears from the HSY’s Board of Directors minutes dated 1 December 1998 and 27 January 1999, copies of which were provided by TKMS/GNSH in its letter of 21 June 2007. The attempt to borrow from the market was also reported in the press (‘Hellenic Shipyards set first euromarket loan’, Reuters News, 19 March 1999).
Polish: Ten fakt wynika z protokółów z posiedzeń Zarządu HSY z dnia 1 grudnia 1998 r. i 27 stycznia 1999 r., których kopie dostarczyły TKMS/GNSH w piśmie z dnia 21 czerwca 2007 r. Informacja o próbie uzyskania pożyczki na rynku ukazała się również w prasie (Hellenic Shipyards set first euromarket loan, „Reuters News” z dnia 19 marca 1999 r.).
English: HSY submitted comments on the extension decision by letter of 30 October 2006. Paragraph 4 of this letter indicates ‘Given the fact that HSY has closely cooperated with the Greek State within the context of its reply to the European Commission, the Company does not believe it is necessary neither to resubmit information that has already been submitted by the Greek State, nor to set out the same arguments, the content of which it fully supports, but for the purpose of completion of the reply and in order to assist the Commission with its task, it will summarise the arguments already put forward and will submit any new evidence that was gathered during the time that has lapsed between the Greek State’s reply and the present reply and will present any new or supplementary arguments’.
Polish: HSY przedstawiła uwagi dotyczące decyzji przedłużającej postępowanie pismem z dnia 30 października 2006 r. W pkt 4 tego pisma stwierdza się, że „[…] biorąc pod uwagę to, że HSY ściśle współpracowała z państwem greckim w kontekście udzielania odpowiedzi Komisji Europejskiej, stocznia uważa, że nie ma potrzeby ponownie przekazywać informacji już przedłożonych przez władze greckie, ani przedstawiać tych samych argumentów, które w pełni popiera; jednakże, aby zakończyć już udzielanie odpowiedzi i pomóc Komisji w wypełnieniu zadania, podsumuje argumentację już przedstawioną i przedłoży nowe dowody zebrane w czasie, który upłynął od odpowiedzi przekazanej przez władze greckie do chwili udzielania niniejszej odpowiedzi, oraz przedstawi wszelkie nowe lub uzupełniające argumenty”.
English: After having requested and received extensions of the deadline to submit comments, HSY made comments on the opening decision by letter of 18 October 2004. These comments are the same as the ones submitted by Greece on 20 October 2004.
Portuguese: Depois de ter solicitado e lhe terem sido concedidas prorrogações do prazo para apresentação de observações, a HSY apresentou observações sobre a decisão de início de procedimento por carta de 18 de Outubro de 2004, constituindo tais observações uma réplica das apresentadas pelas autoridades gregas em 20 de Outubro de 2004.
English: In these circumstances, the Commission will base its analysis on the relative size of the two activities. It must therefore assess the relative weight each activity.
Portuguese: Em tais circunstâncias, a Comissão baseará a sua análise na dimensão relativa das duas actividades, avaliando o peso relativo de cada uma delas.
English: Finally, Elefsis claims that, since HSY received a loan guaranteed by the State and loans at non arm’s length conditions, it has breached the conditions laid down in decision N 401/97. Therefore, this additional aid as well as the investment aid should be recovered.
Portuguese: Por fim, a Elefsis alega que, ao receber um empréstimo com garantia do Estado e outros empréstimos em condições não concorrenciais, a HSY violou as condições estabelecidas na Decisão N 401/97, justificando-se, assim, a recuperação deste auxílio adicional, bem como do auxílio ao investimento.
English: Indeed, in the present decision, the Commission will conclude that all the aid measures unlawfully implemented after the adoption of decision C 10/94 should be recovered. Consequently, any measure which could potentially qualify as further operation aid for restructuring purposes will have to be recovered.
Portuguese: Consequentemente, deverá ser reembolsada qualquer medida susceptível de ser qualificada como auxílio ao funcionamento para efeitos de reestruturação.
English: Under State ownership, the yards have not taken the necessary measures to restore their competitiveness. Consequently, they constantly needed State aid.
Portuguese: Sob a propriedade do Estado, os estaleiros não tomaram as medidas necessárias para recuperar a sua competitividade, carecendo constantemente de auxílios estatais.
English: As regards ETVA’s participation in the capital increases of 20 May 1998, the Commission considers that there are no sufficient grounds to deviate from the implicit non-aid assessment made in the decision N 401/97. In particular, the circumstances in May 1998 were not sufficiently different from the ones forecasted at the time of the adoption of the decision. In addition, the Commission found no proof of a (secret) commitment of the State to reimburse the employees any amount they would pay in the framework of the capital increases. (211) Conversely, at the time of the capital increase of 24 June 1999 and 22 May 2000, fundamental elements that formed the basis of the no aid assessment of 15 July 1997 were not present anymore: First, as explained earlier, both decisions adopted on 15 July 1997 were based on the fact that Greece would implemented the partial privatisation agreement of September 1995, and in particular that the employees would pay the purchase price to ETVA, as laid down in the contract, thereby assuming a financial risk which would incentivise them to support the necessary measures for restoring competitiveness.
Portuguese: No que diz respeito à participação do ETVA nos aumentos de capital de 20 de Maio de 1998, a Comissão considera que não existem fundamentos suficientes para não seguir a apreciação realizada na Decisão N 401/97 que concluiu pela não existência de auxílio.
English: As indicated in the assessment of measure E7, this meant that the employees were not put in the situation of investors having to pay in total GRD 8,17 billion (EUR 24 million) over the next 12 years, contrary to what the Commission expected in July 1997 when the two decisions were adopted. This non payment also meant that the employees were not respecting their obligation under the partial privatisation contract of September 1995.
Portuguese: Apesar de os trabalhadores terem de pagar ao ETVA a primeira prestação do preço de compra até 31 de Dezembro de 1998, nenhum pagamento foi efectuado.
English: Indeed, if OSE and ISAP had adopted such an inflexible approach before the closure of the sale of HSY, this would have probably deterred the new owner to purchase the yard. Without such a purchase, the yard, as will be explained in the analysis of measure E18c, would most probably have gone bankrupt.
Portuguese: De facto, se a OSE e a ISAP tivessem adoptado uma abordagem tão inflexível antes da conclusão da venda da HSY, o novo proprietário não teria provavelmente adquirido o estaleiro e, consequentemente, tal como será explicado na análise da medida E18c, este teria muito provavelmente entrado em falência.
English: According to the first Deloitte report submitted by HSY, they respectively amounted to EUR 3,26 million and EUR 3,38 million. Greece recalls that ETVA did not pay out any amounts under the guarantees after the cancellation of the Strintzis contract in 2002. This proves that HSY was not a borrower whose default risk was high.
Portuguese: De acordo com o primeiro relatório da Deloitte apresentado pela HSY, estas garantias ascendiam, respectivamente, a 3,26 milhões de EUR e 3,38 milhões de EUR. As autoridades gregas relembram que o ETVA não pagou qualquer montante ao abrigo das garantias após a revogação do contrato com a Strintzis em 2002, o que prova que a HSY não era um devedor com um elevado risco de incumprimento.
English: On the basis of Article 296, Greece could have granted to the military activities the financial support they needed to ensure their continuation. Greece would have thereby avoided the demise of the military activities.
Portuguese: Nos termos do artigo 296.o, o Estado grego poderia ter concedido às actividades militares o apoio necessário para assegurar a sua continuidade, evitando assim a sua cessação.
English: Some parties contest that the guarantee granted by ETVA to HDW/Ferrostaal is imputable to the State. They claim that the decision to grant this guarantee was taken independently and freely by ETVA.
Portuguese: Algumas partes contestam que a garantia concedida pelo ETVA à HDW/Ferrostaal seja imputável ao Estado, alegando que a decisão de conceder esta garantia foi tomada independente e livremente pelo ETVA.
English: The Commission recalls that, as has been indicated in section 3.2 of the present decision, when ETVA purchased HSY and directly thereafter injected capital to keep it alive, it did not acted as a market economy investor but as a public authority granting aid to keep alive a firm deemed important for the Greek economy. Therefore, no market economy investor would have found itself in the situation of ETVA.
Portuguese: A Comissão relembra que, tal como referido no ponto 3.2, quando o ETVA adquiriu a HSY e, posteriormente, injectou directamente capital na empresa para assegurar a sua sobrevivência, não actuou como um investidor numa economia de mercado, mas sim como uma entidade pública que concedia um auxílio a fim de assegurar a sobrevivência de uma empresa considerada importante para a economia grega.
English: Elefsis disagree with the prior conclusion regarding the identification of the beneficiary. Elefsis claims that, in addition to HSY, HDW/Ferrostaal was also a beneficiary of the guarantee granted by ETVA.
Portuguese: A Elefsis discorda da conclusão quanto à identificação do beneficiário, alegando que, para além da HSY, a HDW/Ferrostaal também beneficiou com a garantia concedida pelo ETVA.
English: The Commission has already indicated that aid to shipbuilding was regulated from 1 January 1999 by Regulation (EC) No 1540/98. Article 5 indicates that restructuring aid ‘may exceptionally be considered compatible with the common market provided that it complies with the Community guidelines on State aid for rescuing and restructuring firms in difficulties’.
Portuguese: A Comissão já referiu que os auxílios à construção naval são regulados, desde 1 de Janeiro de 1999, pelo Regulamento (CE) n.o 1540/98 do Conselho, cujo artigo 5.o estabelece que os auxílios à reestruturação «podem excepcionalmente ser considerados compatíveis com o mercado comum, desde que respeitem as orientações gerais comunitárias relativas aos auxílios estatais de emergência e à reestruturação concedidos a empresas em dificuldade».
English: Since HSY would not have received a loan or guarantee from the market, any loan or guarantee granted after 30 June 1999 automatically constitutes aid. If found incompatible and still outstanding, any guarantee has to be stopped immediately, and any loan has to be immediately reimbursed.
Romanian: Deoarece HSY nu ar fi primit un împrumut sau o garanție de pe piață, orice împrumut sau garanție acordat(ă) după data de 30 iunie 1999 ar constitui automat un ajutor., Orice garanție trebuie oprită imediat și orice împrumut trebuie rambursat imediat, în cazul în care se descoperă că acestea sunt incompatibile și că există în continuare.
English: ETVA was the only development bank in Greece. ETVA therefore endeavoured to play a decisive role in the economic and regional development of the country by financing enterprises, developing the regional infrastructure of the country, providing venture capital and participating in undertakings with strategic importance for the Greek economy.
Slovak: ETVA bola jediná rozvojová banka v Grécku, a preto sa snažila hrať rozhodujúcu úlohu v hospodárskom a regionálnom rozvoji krajiny financovaním podnikov, rozvojom regionálnej infraštruktúry krajiny, poskytovaním rizikového kapitálu a účasťou v podnikoch strategického významu pre grécke hospodárstvo.
English: The Commission recalls that the Directive 90/684/EEC authorises aid to Greek yards if ‘granted for the financial restructuring of yards in connection with a systematic and specific restructuring programme linked to the disposal by sale of the yards.’ This indicates that the Council could not be satisfied with the mere submission of a restructuring plan but really needed the implementation to be carried out.
Slovak: Komisia pripomína, že v smernici 90/684/EHS sa povoľuje pomoc gréckym lodeniciam, ak „je poskytnutá na finančnú reštrukturalizáciu lodeníc v súvislosti so systematickým a špecifickým programom reštrukturalizácie spojeným s odpredajom lodeníc.“ To znamená, že Rada nemohla byť spokojná len so samotným predložením plánu reštrukturalizácie, ale skutočne potrebovala, aby sa vykonala realizácia plánu.
English: Point 2.1.2 of the Notice on guarantees indicates ‘even if no payments are ever made by the State under the guarantee, there may nevertheless be a State aid under Article 87(1). The aid is granted at the moment when the guarantee is given, not the moment at which the guarantee is invoked or the moment at which payments are made under the terms of the guarantee.
Slovak: V bode 2.1.2. oznámenia o zárukách sa uvádza, že „ak aj štát nevykoná žiadne platby na základe záruk, môže sa poskytnúť štátna pomoc na základe článku 87 ods. 1 Pomoc sa pridelí hneď po tom, ako sa poskytne záruka, a nie vtedy, keď sa o záruku žiada alebo vtedy, keď sa na základe záruk vykonávajú platby.
English: If HSY as a whole was supported, the Commission considers that, since 75 % of the activities of the yard is related to military production, 75 % of the State support benefited the military activities and fall under Article 296 of the Treaty. The remaining 25 % of the State support can be assessed under State aid rules.
Slovenian: če je bila podpora namenjena podjetju HSY v celoti, potem je bilo po mnenju Komisije glede na to, da je 75 % dejavnosti ladjedelnice povezanih z vojaško proizvodnjo, 75 % državne podpore zagotovljene vojaškim dejavnostim in zato spada na področje uporabe člena 296 Pogodbe; preostalih 25 % državne podpore je mogoče oceniti na podlagi pravil o državni pomoči.
English: First, since it was subject to a limitation of the number of man-hours, HSY had to put in place a mechanism to calculate precisely these hours. By having not put in place a mechanism to calculate precisely the number of man-hours carried out by subcontractors, and therefore by preventing a precise calculation of the number of man-hours carried out by the yard, HSY has misused decision N 513/01.
Slovenian: Prvič, ker je za podjetje HSY veljala omejitev pri številu delovnih ur, bi podjetje HSY moralo vzpostaviti mehanizem za natančen izračun teh ur. Ker podjetje HSY ni vzpostavilo mehanizma za natančen izračun delovnih ur, ki so jih opravili podizvajalci, in ker je s tem preprečilo natančen izračun števila delovnih ur, ki so bile opravljene v ladjedelnici, je zlorabilo odločbo N 513/01.
English: However, taking into consideration the significant operational problems and deteriorating financial position of the Company, we believe that the decision taken by the Sellers (and their Advisors) to set such terms was both rational and reasonable’ (page 9–2). The Commission interprets this quotation as confirming that this allocation of the purchase price was a rational and reasonable request of the State if one considers that its objective was to ensure the continuation of the activities of HSY over the long term (goal as public authority), not if one considers that its objective was to maximise the revenues from the sale (goal as market economy investor).
Slovenian: Vendar pa ob upoštevanju velikih problemov pri poslovanju in čedalje slabšega finančnega položaja podjetja menimo, da je bila odločitev za tak pogoj, ki so jo sprejeli prodajalci (in njihovi svetovalci) bila smotrna kakor tudi upravičena.“ (stran 9-2) Komisija ta citat razume kot potrditev, da je ta razporeditev nakupne cene bila smotrna in upravičena zahteva države, če se upošteva dejstvo, da je želela zagotoviti dolgoročno nadaljevanje dejavnosti podjetja HSY (cilj javnega organa), vendar ne, če se upošteva, da je cilj tega bil čim bolj povečati prihodke iz prodaje (cilj vlagatelja iz tržnega gospodarstva).
English: Moreover, the interest rate seemed insufficient in view of the difficulties of the yard. Finally, the combination of this loan and the next measure (measure E13b) indicates that a substantial part of the financing of the two ships ordered by Strintzis was supported by ETVA.
Swedish: Dessutom verkade räntan otillräcklig med tanke på de svårigheter som varvet befann sig i. Slutligen visar kombinationen av detta lån och nästa åtgärd (åtgärd E13b) att ETVA stod för en väsentlig del av finansieringen av de två fartygen som Strintzis beställt.
English: In conclusion, out of the State aid, an amount equivalent to 25 % of the part of the State guarantee considered commensurate with the damage suffered (such as defined in the previous paragraph) constitutes compatible aid on the basis of Article 87(2) b). In other words, out of part of the State guarantee constituting aid, GRD 750 million (EUR 2,20 million) — i.e. 25 % of GRD 3 billion (EUR 8,8 million) — is compatible until the payment of the indemnification by the insurers in the first quarter of 2002.
Swedish: Av det statliga stödet utgör sammanfattningsvis ett belopp som motsvarar 25 procent av den del av den statliga garantin som anses motsvara de uppkomna skadorna (enligt definitionen i föregående skäl) stöd som är förenligt med den gemensamma marknaden enligt artikel 87.2 b. Av den del av den statliga garantin som utgör stöd är 750 miljoner grekiska drakmer (2,20 miljoner euro) – dvs. 25 procent av 3 miljarder grekiska drakmer (8,8 miljoner euro) – med andra ord förenligt med den gemensamma marknaden fram till den dag under det första kvartalet 2002 då försäkringsbolagen betalade ut ersättning.
English: The ‘Status and Evolution’ of the plan was therefore rather a ‘negative’ factor in the table at page 5-2 of the report. Secondly, regarding the criteria ‘Availability of property that could be encumbered’ (page 5-5 and 5-6), the Commission considers that this element is irrelevant to assess whether a private bank would have granted the loans and guarantees granted by ETVA and the State.
Swedish: Status och framsteg i genomförandet av planen var således snarare en negativ faktor i tabellen på s. 5–2 i rapporten.När det gäller kriteriet inteckningsbara fastigheter (s. 5–5 och 5–6) anser kommissionen att denna faktor är irrelevant för att bedöma om en bank skulle ha beviljat de lån och garantier som ETVA och den grekiska staten beviljade.
English: This has already been analysed by the Commission in the extension decision, in particular in the description and the assessment of measure 18(a). The Commission also notes that the second Deloitte report indicates: ‘The clause d) above, regarding the allocation of the consideration between an amount destined for a share capital increase and price offered for the acquisition of existing shares, at a set ratio of 2:1, from our experience in similar transactions, is not a very common term.
Swedish: Kommissionen har redan analyserat detta i utvidgningsbeslutet, framför allt i beskrivningen och bedömningen av åtgärd 18 a. Kommissionen noterar också att det står följande i den andra Deloitterapporten: När det gäller fördelningen av ersättningen mellan ett belopp som är avsett för en aktiekapitalökning och ett erbjudet pris för att förvärva befintliga aktier utifrån ett fastställt förhållande på 2:1 är klausul d ovan av vår erfarenhet från liknande transaktioner inte ett särskilt vanligt villkor.