AS THE COURT HAS CONSISTENTLY HELD ( SEE MOST RECENTLY THE JUDGMENT OF 5 JUNE 1986 IN CASE 103/84 COMMISSION V ITALIAN REPUBLIC (( 1986 )) ECR 1759 ), THE SUBJECT-MATTER OF AN ACTION BROUGHT UNDER ARTICLE 169 IS ESTABLISHED BY THE COMMISSION' S REASONED OPINION AND EVEN WHERE THE DEFAULT HAS BEEN REMEDIED AFTER THE PERIOD LAID DOWN PURSUANT TO THE SECOND PARAGRAPH OF THAT ARTICLE HAS ELAPSED, AN INTEREST STILL SUBSISTS IN PURSUING THE ACTION . THAT INTEREST MAY CONSIST IN ESTABLISHING THE BASIS FOR A LIABILITY WHICH A MEMBER STATE MAY INCUR, BY REASON OF ITS FAILURE TO FULFIL ITS OBLIGATIONS, TOWARDS THOSE TO WHOM RIGHTS ACCRUE AS A RESULT OF THAT FAILURE .
15 SINCE THE HELLENIC REPUBLIC DID NOT COMPLY WITH THE REASONED OPINION OF 25 NOVEMBER 1985 WITHIN THE PERIOD STIPULATED BY THE COMMISSION THE ACTION IS ADMISSIBLE IN SO FAR AS IT CONCERNS THE SUBJECT-MATTER OF THE DISPUTE AS DEFINED BY THAT OPINION .
16 ON THE OTHER HAND, SINCE THE HELLENIC REPUBLIC COMPLIED WITH THE COMMISSION' S DEMAND REGARDING THE BARRIERS WHICH ARE THE SUBJECT-MATTER OF THE REASONED OPINION OF 15 MAY 1986 EVEN BEFORE IT WAS DELIVERED, THE ACTION IS INADMISSIBLE IN SO FAR AS IT CONCERNS THE SUBJECT-MATTER OF THE DISPUTE AS DEFINED BY THAT LATER OPINION .
17 THE SUBJECT-MATTER OF THE DISPUTE IS THEREFORE LIMITED TO THE QUESTIONS, FIRST, WHETHER FROM FEBRUARY 1984 ONWARDS THE HELLENIC REPUBLIC MADE THE IMPORT OF CEREALS SUBJECT TO THE TWO-FOLD CONDITION THAT A FOREIGN CURRENCY PERMIT BE GRANTED BY A BANK AND THAT THE GRANT OF THAT PERMIT BE APPROVED BY THE BANK OF GREECE, AND WHETHER THAT PROCEDURE IS COMPATIBLE WITH ARTICLES 30 AND 106 OF THE TREATY, AND, SECONDLY, WHETHER THE HELLENIC REPUBLIC FAILED TO FULFIL ITS OBLIGATIONS UNDER ARTICLE 5 OF THE TREATY BY FAILING TO COMMUNICATE TO THE COMMISSION THE INFORMATION AND REGULATIONS WHICH IT REQUESTED .
THE COMPATIBILITY WITH ARTICLES 30 AND 106 OF THE TREATY OF THE PROCEDURE FOR THE GRANT OF A FOREIGN CURRENCY PERMIT
18 WHAT THE COMMISSION CRITICIZES IN ITS APPLICATION IS NOT THE FOREIGN CURRENCY PERMIT WHICH IT MAINTAINS IS REQUIRED IN THE HELLENIC REPUBLIC FOR THE IMPORT OF ALL PRODUCTS BUT ONLY THE ADDITIONAL BARRIER RESULTING FROM THE REQUIREMENT THAT THE BANK OF GREECE MUST APPROVE THE PERMITS GRANTED BY THE BANKS .
19 THE GOVERNMENT OF THE HELLENIC REPUBLIC ARGUES THAT THE FOREIGN CURRENCY PERMITS WERE NEVER GRANTED ACCORDING TO THE TWO-STAGE PROCEDURE DESCRIBED BY THE COMMISSION . THE ISSUE OF SUCH PERMITS WAS PREVIOUSLY A MATTER FOR THE COMMERCIAL BANKS ALONE; SUBSEQUENTLY, AFTER THE ADOPTION OF MINISTERIAL DECISION NO E 6/963/84, ONLY THE BANK OF GREECE HAD POWER TO GRANT SUCH PERMITS .
20 IN THIS RESPECT IT MUST BE POINTED OUT THAT THE ABOVEMENTIONED MINISTERIAL DECISION AND DECISION NO E 6/885 OF 16 FEBRUARY 1984 INDICATE A NEW PROCEDURE FOR WHEAT IMPORT PERMITS, WHICH WERE TO BE ISSUED BY THE BANK OF GREECE WITH THE APPROVAL OF A