FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: In the absence of any collateral, the Commission thus applies a top-up of 1000 basis points on top of the Greek base rate, resulting in the amount of EUR 550000 of market interest which should have been paid for the 2008 financing. The interest actually applied in the 2008 loan amounts (there was no guarantee fee) to a total of EUR 0,25 million for the period February 2009 (when the underlying loan was paid) to December 2010.
Spanish: A falta de garantía, la Comisión aplica, por consiguiente, un complemento de 1000 puntos básicos al tipo básico griego, lo que supone que el importe de los intereses al tipo de mercado que se deberían haber pagado por la financiación de 2008 asciende a 550000 EUR. El tipo de interés aplicado realmente a los préstamos de 2008 asciende (no había comisión de garantía) en total a 0,25 millones EUR para el período de febrero de 2009 (cuando se reembolsó el préstamo subyacente) a diciembre de 2010.
English: At the same time, the withdrawal from the Greek market will mean Varvaressos partially or entirely giving up its established commercial relations within its own country and attempting to replace them with new ones, in other EU Member States or in third countries. This will be a real test of the company’s competitiveness.
Spanish: Al mismo tiempo, la retirada del mercado griego supondrá que Varvaressos renuncia parcial o totalmente a sus relaciones comerciales establecidas en su propio país y a intentar sustituirlas por otras nuevas, ya sea en otros Estados miembros de la UE o en terceros países, lo que constituirá una auténtica prueba para la competitividad de la empresa.
Italian: Al tempo stesso, il ritiro dal mercato greco significherà che la Varvaressos rinuncerà – in misura parziale o totale – alle relazioni commerciali da essa stabilite nel proprio paese e che cercherà di sostituirle con nuove relazioni in altri Stati membri dell’UE o in paesi terzi, il che costituirà effettivamente un test della concorrenzialità dell’impresa.
English: On the basis of 2007 data, it ranked 10th in the Greek textile market.102008) and a turnover of EUR 19 million.
Estonian: aasta andmete alusel oldi Kreeka tekstiiliturul 10. kohal.
English: Also, the company’s total loans amounted to EUR 26,4 million in December 2007 and to EUR 29,2 million in December 2008.
French: De même, le total des prêts de l’entreprise s’élevait à 26,4 millions d’EUR en décembre 2007 et à 29,2 millions d’EUR en décembre 2008.
Italian: I mutui contratti dall’impresa ammontano in totale a 26,4 milioni di EUR nel dicembre 2007 ed a 29,2 milioni di EUR nel dicembre 2008.
Swedish: Företagets totala lån uppgick vidare till 26,4 miljoner euro i december 2007 och 29,2 miljoner euro i december 2008.
Finnish: Yrityksen lainat olivat joulukuussa 2007 yhteensä 26,4 miljoonaa euroa ja 29,2 miljoonaa euroa joulukuussa 2008.
Romanian: De asemenea, împrumuturile totale ale întreprinderii se ridicau la 26,4 milioane EUR în decembrie 2007 și la 29,2 milioane EUR în decembrie 2008.
Estonian: Peale selle oli äriühingul 2007. aasta detsembris laene kogusummas 26,4 miljonit eurot ja 2008. aasta detsembris 29,2 miljonit eurot.
Latvian: Arī kopējo aizdevumu summa uzņēmumam 2007. gada decembrī bija 26,4 miljoni euro, bet 2008. gada decembrī – 29,2 miljoni euro.
Maltese: Barra minn hekk, f’Diċembru 2007 is-self totali tal-kumpanija kien jammonta għal EUR 26,4 miljun, u għal EUR 29,2 miljun f’Diċembru 2008.
English: A ‘liquidation’ value equal to […] % of the assets’ market value would give a ‘liquidation’ value of EUR […] million.
French: Une valeur de «liquidation» égale à […] % de la valeur de marché des actifs donnerait une valeur de «liquidation» de […] millions d’EUR.
Dutch: Een „liquidatiewaarde” van […] % van de marktwaarde van de activa zou een „liquidatiewaarde” van […] miljoen EUR opleveren.
Swedish: Ett likvidationsvärde motsvarande […] % av tillgångarnas marknadsvärde skulle ge ett likvidationsvärde på […] miljoner euro.
Finnish: Likvidaatioarvo olisi […] prosenttia omaisuuden markkina-arvosta eli […] miljoonaa euroa.
Estonian: Likvideerimisväärtus, mis võrdub […] %ga vara turuväärtusest, annaks likvideerimisväärtuseks […] miljonit eurot.
Latvian: “Likvidācijas” vērtība, kas vienāda ar [..] % no aktīvu tirgus vērtības, nozīmētu “likvidācijas” vērtību [..] miljonu euro apmērā.
Maltese: Valur ta’ “likwidazzjoni” li huwa ugwali għal […] % tal-valur tal-assi fis-suq jammonta għal valur ta’ “likwidazzjoni” ta’ EUR […] miljun.
English: Fourthly, both the 2007 and 2008 guarantees were granted for loans to a firm in difficulty and did not provide for a premium for the guarantor (State). The mere fact that no fee was paid in exchange for the guarantees might indicate that the measures conferred an advantage on Varvaressos. A guarantee without premium payment is not available on the commercial banking market. This is all the more true for guarantees given to undertakings in difficulty, which have a high risk of default. (56) On the basis of the above the Commission concludes that the company would not have obtained the 2007 and 2008 guarantees under the same terms on the market and hence these measures conferred an advantage.
Finnish: Edellä esitetyn perusteella komissio päättelee, että yritys ei olisi saanut vuosien 2007 ja 2008 takauksia samoilla ehdoilla markkinoilta, minkä vuoksi nämä toimenpiteet antoivat sille etua.
English: After the opening of the procedure, Greece submitted comments and information on 28 July 2010. Also, Varvaressos submitted comments and information on 18 June 2010.
French: La Grèce a alors présenté des observations et des informations le 28 juillet 2010, de même que Varvaressos, le 18 juin 2010.
English: Regarding the avoidance of undue distortion of competition, the Commission expressed doubts about the proposed two compensatory measures. These were: (a) the closure of one of the company’s three plants, the one in Naoussa; and (b) the sale of the shareholding in the subsidiary ‘Thiva Ginning Mills SA’.
French: En ce qui concerne la prévention des distorsions de concurrence indues, la Commission a exprimé des doutes sur les deux mesures compensatoires proposées, à savoir: a) la fermeture d’une des trois usines de l’entreprise, plus particulièrement celle située à Naoussa; et b) la vente de ses parts dans la filiale «Ekkokistiria Vamvakos Thivon S.A.».
Swedish: När det gäller frågan om att undvika en otillbörlig snedvridning av konkurrensen ifrågasatte kommissionen de två föreslagna kompensationsåtgärderna, dvs. a) nedläggningen av en av företagets tre produktionsanläggningar (den i Naoussa), och b) försäljningen av aktieinnehavet i dotterbolaget ”Thiva Ginning Mills SA”.
Lithuanian: Svarstant, kaip numatyta išvengti netinkamo konkurencijos iškraipymo, Komisijai abejonių kėlė abi pasiūlytos kompensavimo priemonės: a) vieno iš trijų bendrovės fabrikų (Nausos mieste) uždarymas ir b) patronuojamosios įmonės Thiva Ginning Mills SA akcijų paketo pardavimas.
English: On the basis of the above, the Commission considers that the compensatory measures described above fulfil the requirements of the R&R Guidelines. In particular: (a) they benefit Varvaressos’s competitors, within the meaning of point 31; (b) they take a form provided for in points 39 and 46(c); and (c) they will take place in the market where Varvaressos will have a significant market position after restructuring, within the meaning of point 40.
French: Sur la base de ce qui précède, la Commission estime que les mesures compensatoires décrites ci-dessus remplissent les conditions énoncées dans les lignes directrices S&R: a) elles sont favorables aux concurrents, au sens du point 31; b) elles revêtent une forme prévue au point 39 et au point 46 c), et c) elles interviendront sur un marché sur lequel Varvaressos détiendra une position importante après la restructuration, au sens du point 40.
Swedish: Mot bakgrund av ovanstående anser kommissionen att de kompensationsåtgärder som beskrivs ovan uppfyller kraven i riktlinjerna, bland annat eftersom de a) gynnar Varvaressos konkurrenter, i den mening som avses i punkt 31, b) tar den form som fastställs i punkterna 39 och 46 c, och c) kommer att vidtas på den marknad där Varvaressos kommer att ha en betydande position efter omstruktureringen, i den mening som avses i punkt 40.
English: Greece argues that since 2009 the company has been medium-sized, according to the criteria set out in the Commission Recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises [26]. However, taking into consideration the fact that the company received State aid for the first time in 2007, it should be considered a large company for the purposes of the present assessment (in 2006 it had an annual turnover of EUR 28 million).
Italian: La Grecia ha dichiarato che, secondo i criteri definiti nella raccomandazione della Commissione, del 6 maggio 2003, relativa alla definizione delle microimprese, piccole e medie imprese [26], nel 2009 la Varvaressos era una media impresa Nondimeno, dato che l’impresa ha ricevuto un aiuto di Stato per la prima volta nel 2007, ai fini della presente valutazione la si deve considerare una grande impresa (nel 2006 il suo fatturato annuo era di 28 milioni di EUR).
Hungarian: Görögországnak az az álláspontja, hogy a vállalat 2009 óta a mikro-, kis- és középvállalkozások meghatározásáról szóló, 2003. május 6-i bizottsági ajánlásban [26] meghatározott feltételek szerint középvállalatnak minősül figyelembe véve azonban azt a tényt, hogy a vállalat első ízben 2007-ben kapott állami támogatást, a jelen értékelés szempontjából nagyvállalatnak kell tekinteni (2006-ban az éves forgalma 28 millió EUR volt).
English: Before the 2007 rescheduling, only part of the company’s real estate assets were mortgaged to cover its loans. In the context of the 2007 rescheduling, the rest of the company’s real estate assets were additionally mortgaged.
Italian: Prima della ritempificazione del 2007, soltanto una parte dei beni immobili dell’impresa erano ipotecati a copertura dei mutui, ma con la ritempificazione del 2007 l’ipoteca è stata estesa anche agli altri beni immobili.
English: Greece also argues that the 2007 loan rescheduling was not sufficient for the company to finance its restructuring. It was used only to reorganise the existing heavy debt.
Italian: Inoltre, la Grecia sostiene che perché l’impresa potesse finanziare la sua ristrutturazione non era sufficiente la ritempificazione dei mutui accordata nel 2007, che era servita soltanto per ristrutturare la grave esposizione debitoria.
Portuguese: A Grécia argumenta igualmente que o reescalonamento do empréstimo de 2007 não era suficiente para que a empresa financiasse a sua reestruturação, tendo sido apenas utilizado para reorganizar a pesada dívida existente.
Lithuanian: Graikija taip pat teigia, kad atidėjus paskolas 2007 m. gautų lėšų nepakako bendrovei restruktūrizuoti.
English: All of the comments praised the beneficiary’s status, both as a contributor to the local economy and as a well-established company. It was also stated that the company’s cessation of operations would significantly reduce employment and production capacity in Greece and especially Imathia.
Italian: Nelle osservazioni tutti i terzi interessati hanno espresso apprezzamento nei confronti della beneficiaria, tanto per il suo contributo all’economia locale quanto per la sua funzione di stabile impresa, e hanno dichiarato che la cessazione delle operazioni dell’impresa ridurrebbe in misura considerevole l’occupazione e la capacità di produzione in Grecia, e in particolare nella provincia d’Imathía.
English: Secondly, a measure must give the beneficiary an advantage. The Commission considers that the two guarantees in question have conferred an undue advantage on Varvaressos.
Italian: In secondo luogo, la misura deve conferire un vantaggio al beneficiario.
English: Thirdly, with regard to the 2007 guarantee, the Commission notes that the extent of the guarantee could not be properly measured when it was granted. This is shown by the fact that, according to the information transmitted by the Greek authorities (see above, recitals 13 and 16), the guarantee was initially supposed to cover 80 % of the loan, or EUR 18,2 million, but eventually, on the basis of one of the provisions of the guarantee scheme, covered EUR 30 million.
Italian: in terzo luogo, per quanto riguarda la garanzia del 2007, la Commissione osserva che non era possibile misurare correttamente l’entità della garanzia al momento della sua concessione, il che è dimostrato dal fatto che, secondo le informazioni presentate dalle autorità greche (cfr. i considerando 13 e 16), era stato previsto inizialmente che la garanzia coprisse l’80 % del mutuo, ossia 18,2 milioni di EUR, mentre infine, in base a una disposizione del regime di garanzia, questa ha coperto 30 milioni di EUR,
English: Also, the aid measures in question granted Varvaressos an advantage over its competitors (see recitals 53-56 above). When State aid strengthens the position of an undertaking compared with other undertakings competing in trade between Member States, those other undertakings must be regarded as affected by that aid.
Italian: Inoltre le misure in oggetto hanno conferito alla Varvaressos un vantaggio rispetto ai suoi concorrenti (cfr. i considerando 53-56).Quando un aiuto di Stato rafforza la posizione di un’impresa nei confronti dei suoi concorrenti commerciali di altri Stati membri, si deve ritenere che l’aiuto in oggetto incide su tutte le imprese concorrenti.
English: As regards point 9 of the R&R Guidelines, it appears that in 2007 the company indeed needed more funds than its existing loans in order to achieve viability. This is demonstrated by the fact that in 2006 it applied for restructuring aid.
Italian: Per quanto riguarda il punto 9 degli orientamenti S&R, si constata che nel 2007 l’impresa aveva necessità effettiva di fondi in misura superiore ai mutui ancora da rimborsare, che aveva ottenuti per mantenere la propria redditività, il che è dimostrato dal fatto che nel 2006 aveva chiesto un aiuto per la ristrutturazione.
English: However, the Commission has also to assess the compatibility of the aid measure on all other possible grounds. Point 20 of the R&R Guidelines limits the grounds to those stipulated under the rescue and restructuring guidelines.
Italian: Tuttavia, la Commissione deve valutare la compatibilità della misure di aiuto anche in base a tutti gli altri motivi pertinenti, che secondo il punto 20 degli orientamenti sono limitati a quelli indicati negli orientamenti S&R.
English: Here the Commission refers to the ‘real’ restructuring costs. In recital 123 below, where the overall restructuring cost is presented, the aid elements of 2007 and 2008 State guarantees are also included, because they have to be financed by the own contribution.
Italian: La Commissione si riferisce qui al costo «reale» della ristrutturazione: nel considerando 123, nel quale è indicato il costo totale della ristrutturazione, si è tenuto conto anche degli elementi di aiuto delle garanzie statali del 2007 e del 2008, poiché devono essere finanziati mediante il contributo proprio.
English: The Commission received comments from Varvaressos. Its arguments coincided to a large extent with those submitted by the Greek authorities.
Portuguese: A Comissão recebeu observações da Varvaressos, coincidindo a sua argumentação em grande medida com a apresentada pelas autoridades gregas.
Lithuanian: Komisija gavo Varvaressos pastabų, kurios daugeliu atvejų sutapo su Graikijos valdžios institucijų pastabomis.
English: In point 3.2 of the Guarantee Notice, the Commission has set out three cumulative conditions which it deems sufficient to rule out the presence of State aid (i.e. an advantage) in the form of a guarantee. These are:
Dutch: In punt 3.2 van de garantiemededeling heeft de Commissie de volgende vier cumulatieve omstandigheden uiteengezet die zij toereikend acht om de aanwezigheid van staatssteun (en dus een voordeel) in de vorm van een garantie uit te sluiten:
Swedish: I punkt 3.2. i tillkännagivandet om garantier har kommissionen angett att det för att förekomsten av statligt stöd (dvs. en fördel) i form av en garanti ska kunna uteslutas är tillräckligt att samtliga av följande villkor är uppfyllda:
English: After the opening of the procedure, Greece submitted comments and information on 28 July 2010. Also, Varvaressos submitted comments and information on 18 June 2010. Finally, other third parties submitted comments on 4 June 2010, 14 June 2010 and 17 June 2010 [4].
Polish: Po wszczęciu postępowania Grecja przedstawiła uwagi i informacje dnia 28 lipca 2010 r. Również Varvaressos przedstawiło uwagi i informacje dnia 18 czerwca 2010 r. Wreszcie inne strony trzecie przedstawiły uwagi dnia 4 czerwca 2010 r., dnia 14 czerwca 2010 r. i dnia 17 czerwca 2010 r. [4].
English: Point 20 of the R&R Guidelines limits the grounds to those stipulated under the rescue and restructuring guidelines. That would still leave the possibility of the rescue aid qualifying as restructuring aid, i.e. as part of a restructuring continuum (see also Case C 11/2007, Ottana Energia [23]).
Portuguese: O ponto 20 das Orientações E&R limita estes motivos aos enunciados nas Orientações, o que deixa ainda em aberto a possibilidade de o auxílio de emergência poder ser qualificado como um auxílio à reestruturação, ou seja, parte de um processo contínuo de reestruturação (ver também processo C11/2007, Ottana Energia [23].
English: Also, costs of EUR [1-2] million are expected in the period 2006-2009, for investments in the reorganisation of the company’s management and the re-direction of its production to more profitable products. The required State aid for 2007-2011 amounts to EUR 13,5 million, to make good unsuccessful investments in the period 2000-2005, which created the company’s difficulties. The company is expected to achieve viability in 2010, with EBT of EUR 1 million and a profit margin of 3,5 % (in 2011, positive EBT of EUR 0,8 million with a 2,6 % profit margin).
Slovak: Takisto sa predpokladá, že v období rokov 2006 – 2009 sa na investície do reorganizácie riadenia podniku a na presmerovanie jeho produkcie na rentabilnejšie výrobky vynaložia náklady vo výške [1 – 2] milióna EUR. Požadovaná štátna pomoc na roky 2007 – 2011 na vyrovnanie neúspešných investícií v rokoch 2000 až 2005, ktoré spôsobili podniku problémy, dosahuje výšku 13,5 milióna EUR. Očakáva sa, že podnik dosiahne životaschopnosť v roku 2010, pričom zisk pred zdanením bude predstavovať 1 milión EUR a zisková marža 3,5 % (v roku 2011 sa dosiahne kladný zisk pred zdanením vo výške 0,8 milióna EUR a zisková marža 2,6 %).
English: With its opening decision of 9 March 2010, the Commission gave Greece the opportunity to submit its comments on the fact that the Commission’s rescue aid decision of July 2008 was based on the wrong information provided by the Greek authorities that Varvaressos had not received rescue or restructuring aid before. In its comments, Greece acknowledged having granted the State guarantee of May 2007.
Swedish: I sitt beslut av den 9 mars 2010 att inleda förfarandet gav kommissionen Grekland möjlighet att inkomma med synpunkter på det faktum att kommissionens beslut om undsättningsstöd från juli 2008 byggde på oriktig information från de grekiska myndigheterna om att Varvaressos inte hade tilldelats undsättnings- eller omstruktureringsstöd tidigare.