natgillin/translations-raw huggingface dataset:
the fact that, long before it went into liquidation, ARCO was already in an unsound financial situation, as it had — as described in recitals 38, 44 and 82 — heavily invested in shares of Dexia, a bank that in the autumn of 2008 had to be rescued from bankruptcy by the Belgian, French and Luxembourg governments, with the result that any significant drop in the value of Dexia shares was still detrimental to the financial position of ARCO, in particular because ARCO had leveraged its participation in the rescue of Dexia by taking on debt,
Seega tuleb Belgial tühistada õigusakt, millel ühistute tagatisskeem põhineb (eeskätt 14. aprilli 2009. aasta seadus ja 10. oktoobri 2011. aasta kuninga dekreet) ning nõuda Arcoparile, Arcofinile ja Arcoplusile antud eelis tagasi,
and the fact that in 2011 ARCO paid the entry fee and the annual guarantee premium.
ON VASTU VÕTNUD KÄESOLEVA OTSUSE:
The advantage that ARCO obtained was a protection from capital outflows which ARCO could otherwise only have stopped by applying the provisions of its Articles of Association once it had either lost 10 % [93] of its capital or 10 % of its shareholder base.
Artikkel 1
Outflows of such magnitude were likely to happen as soon as ARCO would have either objectively entered into a situation of over-indebtedness, bankruptcy proceedings, or liquidation proceedings, or — more subjectively as in some other cases of bank-runs [94] — as soon as its shareholders would have perceived ARCO to be no longer a safe investment, for example because of its heavy exposure to the financial situation and market value of Dexia.
Tagatisskeem, mille Belgia kehtestas ebaseaduslikult ARCO rahandusühistute, eeskätt Arcofini, Arcoplusi ja Arcopari kasuks, rikkudes ELi toimimise lepingu artikli 108 lõiget 3, ei ole siseturuga kokkusobiv.
The Commission takes a conservative [95] approach in calculating the advantage that ARCO obtained, taking into account the potential outflow of just one annual period instead of multiple periods.
Artikkel 2
By proceeding on that basis, the calculation should capture the minimum effect of the cooperative guarantee scheme, although in reality the guarantee may also have prevented ARCO from having had to cope several times with the maximum outflow of shareholders and capital.
Belgial tuleb artiklis 1 nimetatud kokkusobimatu abi abisaajatelt sisse nõuda.
The Articles of Association allowed ARCO to stop an outflow of capital if either 10 % of capital or 10 % of the shareholder base had gone.
Abisumma on järgmiste arvutuste põhjal saadud väiksem summa:
For the purpose of calculating the aid amount, the Commission assumes that ARCO would have chosen the more effective alternative among those two options, namely the alternative which would have preserved the higher level of capital.
10 % kõige väiksemast osanike arvust ajavahemikus 10. oktoobrist 2008 kuni 8. detsembrini 2011, mis korrutatakse igale osanikule kuuluva keskmise kapitaliga samal aastal, miinus juba makstud tasude kogusumma.
With regard to the option that is linked to an outflow of the shareholder base, the Commission will refer to the lowest number of individual shareholders during the period when an advantage was created (starting from 10 October 2008) which is another conservative assumption, and attribute to those shareholders the average share of capital of that year.
Tagasinõutavatelt summadelt arvestatakse intresse alates 8. detsembrist 2011 kuni nende tegeliku tagasisaamiseni.
With regard to the option linked to the outflow of capital the Commission will also refer to the year with the lowest amount of capital.
Intresse arvutatakse liitintressina vastavalt komisjoni määruse (EÜ) nr 794/2004 [98] V peatükile.
The Commission also takes into account that the advantage of the measure was partially diminished by the fact that ARCO, as constituted by the three legal entities ARCOPAR, ARCOFIN and ARCOPLUS, had to pay a one-off entry fee and a guarantee fee for one year, even though those payments only took place in the autumn of 2011, just before ARCO filed for liquidation.
Alates käesolevast otsusest teatamise kuupäevast hoidub Belgia jätkuvalt tegemast väljamakseid artiklis 1 osutatud abimeetme alusel.
The advantage obtained by the measure is hence the lower amount resulting from the following two calculations:
Artikkel 3
10 % of the capital of the year with the lowest capital in the period from 10 October 2008 until 8 December 2011 minus the total amount of fees already paid;
Belgia lõpetab artiklis 1 osutatud abimeetme elluviimise määral, mil see on kokkusobimatu siseturuga.
and (b) 10 % of the lowest number of shareholders in the period of 10 October 2008 until 8 December 2011 multiplied by the average share of capital per shareholder of the same year minus the total amount of fees already paid.
Artiklis 1 osutatud abi tuleb tagasi nõuda viivitamata ja tõhusalt.
In absolute terms, the likelihood of investors withdrawing capital grows over time, making it more difficult to calculate the interest that has to be paid for the advantage received.
Belgia tagab käesoleva otsuse täitmise nelja kuu jooksul alates selle teatavaks tegemisest.
In order to allow the entirety of the advantage obtained by ARCO to be eliminated while at the same time allowing the Member State to have a workable method by which the recovery interest can be calculated [96], the Commission considers that the entirety of the advantage was fully available at least as of 8 December 2011, and requests that the sums to be recovered bear interest from 8 December 2011 until their actual recovery.
Artikkel 4
In order to be able to verify the aid calculations, the Commission requests Belgium to provide the Commission with a list of the numbers of shareholders of ARCOPAR, ARCOFIN and ARCOPLUS respectively for the period from 10 October 2008 until 8 December 2011, as registered at the end of each year.
Kahe kuu jooksul alates käesoleva otsuse teatavaks tegemisest esitab Belgia komisjonile järgmise teabe:
In their additional comments submitted more than a year and a half after the deadline for submitting comments on the decision to open the procedure, the Belgian authorities did not provide any new information on the substance of the case.
käesoleva otsuse täitmiseks juba võetud ja kavandatud meetmete üksikasjalik kirjeldus;
They claim that the Commission may not prohibit the payment of guarantees granted to individual shareholders, may not require the State to suspend any payment under the cooperative guarantee scheme and may not recover payments made under that scheme to individual shareholders
dokumendid, mis tõendavad, et abisaajatele on antud korraldus abi tagasi maksta.
(1 38) In support of their arguments the Belgian authorities noted that the individual shareholders were not undertakings within the meaning of Article 107(1) of the Treaty and considered that the payment of the guarantee to individual shareholders would have no impact on ARCO or the likelihood of the Belgian State recovering the aid.
Belgia teavitab komisjoni käesoleva otsuse täitmiseks võetud riigisiseste meetmete rakendamisest, kuni artiklis 1 osutatud abi on lõplikult tagastatud.
In reply the Commission pointed out that the sums to be recovered under this Decision were indeed aid to ARCO.
Belgia edastab komisjoni taotlusel viivitamata teabe käesoleva otsuse täitmiseks juba võetud ja kavandatud meetmete kohta.
The Commission further stated that the fact of finding that aid granted by a State was incompatible with the single market under Article 108(2) of the Treaty was sufficient to justify ordering the State to abolish that aid [97].
Ta esitab ka üksikasjalikud andmed abisaajatelt juba tagasi saadud abisummade ja intresside kohta.
The Belgian authorities therefore could not claim that the prohibition on paying a guarantee deemed to be incompatible aid was contrary to Union law.
Artikkel 5
They were therefore obliged to comply with the order contained in the decision to open the procedure to suspend implementation of the measure in question, and therefore not make any payment.
Käesolev otsus on adresseeritud Belgia Kuningriigile.
It is therefore also justified that Belgium should continue to abstain from making any payment under the aid measure.
Brüssel, 3. juuli 2014
The Commission finds that the cooperative guarantee scheme constitutes State aid in favour of ARCOPAR, ARCOFIN and ARCOPLUS that Belgium has unlawfully implemented in breach of Article 108(3) of the Treaty on the Functioning of the European Union.
Komisjoni nimel
The Belgian State should withdraw the legislation underlying the cooperative guarantee scheme (in particular the Law of 14 April 2009 and the Royal Decree of 10 October 2011) and should recover the advantage from ARCOPAR, ARCOFIN and ARCOPLUS,
Joaquín Almunia
HAS ADOPTED THIS DECISION:
ELT C 213, 19.7.2012, lk 64.
Article 1
Ka Belgia kõrgeim halduskohus (Conseil d'Etat) juhtis tähelepanu asjaolule, et meede võib kujutada riigiabi.
The guarantee scheme unlawfully adopted by Belgium for the financial cooperatives of ARCO, and in particular ARCOFIN, ARCOPLUS and ARCOPAR, in breach of Article 108(3) of the Treaty on the Functioning of the European Union is incompatible with the internal market.
Vt kõrgeima halduskohtu 4. märtsi 2009. aasta arvamus 46.131/2.
Article 2
Nõukogu määrus (EÜ) nr 659/1999, 22. märts 1999, millega kehtestatakse üksikasjalikud eeskirjad Euroopa liidu toimimise lepingu artikli 108 kohaldamiseks (EÜT L 83, 27.3.1999, lk 1).
Belgium shall recover the incompatible aid referred to in Article 1 from the beneficiaries at the lower amount resulting from the following two calculations:
Vt joonealune märkus 1.
10 % of the lowest number of shareholders in the period from 10 October 2008 until 8 December 2011 multiplied by the average share of capital per shareholder of the same year minus the total amount of fees already paid.
Arco kohta esitatakse üksikasjalikum kirjeldus põhjendustes 38–44.
The sums to be recovered shall bear interest from 8 December 2011 until their actual recovery.
Vt ( http://www.dekamer.be/kvvcr/pdf_sections/comm/dexia/N031_20120125reynders.pdf) — Dexia erikomisjoni protokoll.
The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004 of 21 April 2004 implementing Council Regulation (EC) No 659/1999 laying down detailed rules for the application of Article 93 of the EC Treaty [98].
Minister Reyndersi ärakuulamine 25. jaanuaril 2012, lk-d 7 ja 32.
Belgium shall continue to refrain from making any payments under the scheme referred to in Article 1 with effect from the date of notification of this decision.
Väljavõtted protokollist:
Article 3
Tollane minister teatas seejärel ajakirjas „Trends” ( 15. mai 2014, lk 20) järgmist (riputatud üles ka tema veebisaidil: „2008. aasta septembri lõpus, s.o Dexia esimese kriisiolukorra ajal, palusime Holding Communalil, Arcol ja Ethiasel osaleda kapitali suurendamises, milleks neil paraku puudusid vahendid.
Belgium shall terminate the aid measure referred to in Article 1 as the measure is incompatible with the internal market.
Arco ja Ethiase esindajad vajasid tagatist, vastasel korral oleksid nad oma hoiused äriühingust välja võtnud.
Recovery of the aid referred to in Article 1 shall be immediate and effective.
See oleks tähendanud Arco pankrotti.
Belgium shall ensure that this decision is implemented within four months following the date of notification of this Decision.
Tagatisel on suur seos sel ajal valitsenud olukorraga.
Article 4
Arco, Ethias ja Holding Communal olid sunnitud osalema Dexia kapitali suurendamises, sest muid lahendusi ei leitud.
Within two months following notification of this Decision, Belgium shall submit the following information to the Commission:
See oli aastal 2008 [---].
documents demonstrating that the beneficiary has been ordered to repay the aid.
Tänu sellele ei võtnud Arco hoiustajad oma raha välja.
Belgium shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in Article 1 has been completed.
Nende arutluskäik oli selline, et nad on kohustatud pakkuma järjepidevat abi, kuid kui midagi halvasti läheb, on olemas varuväljapääs.” ( „Eind september 2008, bij de eerste Dexia-crisis, werd aan de Gemeentelijke Holding, Arco en Ethias gevraagd om deel te nemen aan een kapitaalverhoging waarvoor ze het geld niet hadden.
It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision.
De achterban van onder andere Arco en Ethias had waarborgen nodig, anders zouden ze hun spaargeld weghalen.
It shall also provide detailed information concerning the amounts of aid and recovery interest already recovered from the beneficiary.
Dat had het faillissement van Arco betekend.
This Decision is addressed to the Kingdom of Belgium.
Arco, Ethias en de Gemeentelijke Holding waren verplicht om mee te gaan in de kapitaalverhoging van Dexia, omdat er geen andere oplossing was.
Done at Brussels, 3 July 2014.
Dat was 2008. … Op dat moment kende de federale wetgever — met vijf partijen — een overheidswaarborg toe.
For the Commission
Het resultaat was dat de Arcospaarders hun geld lieten staan.
Vice-President
Ze dachten: we moeten blijven steunen, en als het misloopt is er een vangnet.”)
OJ C 213, 19.7.2012, p. 64.
kategooria elukindlustustoote mõiste on määratletud kindlustusandjate üle kontrolli teostamise üldkorraldust käsitleva kuninga dekreedi I lisa punktis 21 ning käsitleb kindlustustooteid, mis ei ole seotud investeerimisfondidega (erinevalt nn 23. kategooria elukindlustustoodetest).
The Belgian Council of State also pointed to the potential State aid character of the measure.
kategooria tooted annavad tagatud investeerimistulu, mida on võimalik suurendada osalemisega kindlustusandja investeerimistulemis.
See Avis du Conseil d'Etat No 46.131/2 of 4 March 2009.
Pressiteade sisaldab järgmist lõiku.
OJ L 83, 27.3.1999, p. 1.
18. detsembril 2008 astus valitsus tagasi ning 30. detsembril 2008 astus ametisse uus valitsus.
ARCO will be described in more detail in recitals 38 to 44.
„valitsus kinnitab oma toetust eelmise valitsuse võetud kohustusele pakkuda tagatisskeemi tegevusloa saanud ühistute aktsionäridele.”
See (http://www.dekamer.be/kvvcr/pdf_sections/comm/dexia/N031_20120125reynders.pdf) — Transcripts Dexia Commission — hearing of 25 January 2012 with Minister Reynders, page 7 and 32;
( „le gouvernment confirme l'engagement pris par le gouvernement précédent d'offrir un régime de garantie aux associés des sociétés coopératives agrees”.)
Those transcripts read as follows:‘… in 2008 a core group of members of the government worked together to urge the State to intervene on Ethias and Arco.
Pressiteade sisaldas ka ühistute tagatisskeemi tehnilisi üksikasju.
In view of the prevailing crisis, the government committed itself, on 10 October 2008 and 21 January 2009, to protecting the paid-up capital of individual shareholders in financial cooperatives… by a political decision, at some point I therefore realised that neither the Prime Minister at the time nor I could reach an agreement with our counterparts [pro memoria: France and Luxembourg were the other Member States concerned in the Dexia-file] and with Dexia's management if no decisions were taken on Ethias and Arco at the same time… We therefore made this commitment to individual shareholders in financial cooperatives… Why in three stages and after quite a lot of time?
5. oktoobri 2010. aasta aktsiaülevaates selgitas ArgenCo järgmist (lk 4): „Aktsiat ei saa liigitada ei krediidiasutuse võlaväärtpaberina ega hoiusena.Seepärast ei kehti aktsiate suhtes hoiuste tagamise skeem.”
Because we first had to translate this political agreement into a legal instrument’. ( ‘…en 2008, des membres du gouvernement sont intervenus en Conseil restreint afin de demander à l'Etat d'intervenir pour Ethias et pour ARCO.
Ka Lanbokas/Agricaisse edastas oma 15. mai 2009. aasta prospektis (lk 6) samalaadse sõnumi, selgitades, et ühistu osakute märkijad peavad arvestama hoiuste tagamise skeemi kehtetusega nende suhtes.
Compte tenu de la situation de crise dans laquelle on était, le gouvernement s'est engagé le 10 octobre 2008 et le 21 janvier 2009 à protéger la part de capital des coopérateurs personnes physiques dans des sociétés coopératives… dans une décision politique, j'ai donc bien compris à un moment donné que je ne pourrais pas — et le premier ministre aussi à l'époque — boucler l'accord avec nos collègues [pro memoria: France and Luxembourg were the other Member States concerned in the Dexia-file] et avec la direction de Dexia — si en même temps, il n'y avait pas des décisions prises sur Ethias et sur ARCO. …, Donc, pour les coopérateurs des coopératives, nous avions pris cet engagement ….
Moniteur belge, 17.10.2008, 2. väljaanne, F.2008 — 3690 [2008/03425].
Alors pourquoi en trois étapes et pourquoi avec pas mal de temps?
Moniteur belge, 17.11.2008, 2. väljaanne, F.2008 — 4088 [2008/03450].
Parce qu'il a d'abord fallu faire en sorte que cet accord politique puisse se traduire dans un texte’.
Moniteur belge, 21.4.2009, 1. väljaanne, F. 2009 1426 [2009/03147].
In an article published in the magazine Trends of 15 May 2014, and also available on its website, the minister is quoted as saying ‘at the end of September 2008, during the first Dexia crisis, we asked Holding Communal, ARCO and Ethias to participate in a capital increase for which they did not have the money.
Moniteur belge, 12.10.2011, 2. väljaanne, F 2011 2682 [2011/205241].
The people behind ARCO and Ethias needed a guarantee, otherwise they would have withdrawn their savings.
Pärast ühistute tagatisskeemi kasutuselevõtmist tehti Belgia keskpanga põhikirja sätestavasse seadusesse vastavad muudatused ning lisati artikkel 36/24 (http://www.nbb.be/doc/ts/Enterprise/juridisch/F/loi_organique.pdf).
That would have bankrupted ARCO.
„Asjaolud tunduvad nimetatud tingimustele vastavat, kuna riigivõlakriis, finantsturgude häired ja pankadevaheliste turgude probleemid on tekitanud meie majandusele olulise süsteemse kriisi ohu.Riigitagatis teatavate tegevusloa saanud ühistute aktsionäride osakutele võimaldaks kriisi tagajärgi piirata.”( „Les circonstances actuelles nous semblent répondre à ces conditions, en ce que la crise des dettes souveraines, les perturbations actuelles sur les marches financiers et le dysfonctionnement des marchés interbancaires font peser sur notre économie un risque grave de cette crise systémique.
The guarantee has to be seen in the context of the time: ARCO, Ethias and Holding Communal were obliged to participate in raising Dexia's capital because there was no other solution.
A cet effet, une garantie d'Etat couvrant les parts des coopérateurs de certaines sociétés coopératives agréées permettrait de limiter les effets de cette crise.”)
It was 2008…The federal government — with five political parties — gave a government guarantee.
„Seadusandja õigustab sätet teatavate ühistute liikmete osakute pangahoiustega võrdsustamise alusel.Et käesolev arvamus piirdub kuninga dekreedi esialgse eelnõuga, siis selles nimetatud võrdsustamist ei käsitleta.” ( „Le législateur justifie cette disposition sur la base d'une assimilation des parts de coopérateurs de certaines sociétés coopératives à des dépôts bancaires.
So the ARCO savers did not withdraw their money, thinking “We have to keep on providing support, and if things go wrong there's a safety net”. ’ ( ‘Eind september 2008, bij de eerste Dexia-crisis, werd aan de Gemeentelijke Holding, Arco en Ethias gevraagd om deel te nemen aan een kapitaalverhoging waarvoor ze het geld niet hadden.
Le présent avis étant limité à l'avant-projet d'Arrêté royal, il n'examine pas l'assimilation pratiquée par le législateur.”)
De achterban van onder andere Arco en Ethias had waarborgen nodig, anders zouden ze hun spaargeld weghalen.
„Esmapilgul ei ole väga kindel, et õnnestub kindlalt veenda komisjoni kuninga dekreedi esialgses eelnõus käsitletud meetme kohaldatavuses kõigi võrreldavate turuosaliste suhtes ning seega selles, et meede ei kuulu riigiabieeskirjade kohaldamisalasse.” ( „Prima facie, il ne nous semble pas évident de convaincre à coup sûr la Commission de ce que la mesure que l'avant-projet d'Arrêté royal vise à exécuter s'adresse bien à tous les acteurs comparables du marché et ne relève donc pas du champ d'application des règles sur les Aides d'Etat.”)
Dat had het faillissement van Arco betekend.
„Meetme vabatahtlik olemus toob kaasa kahjuliku valiku ohu, mille puhul üksnes väga suure kahjumiriskiga ühistud panustavad tõhusalt hoiuste kaitsmise erifondi.” ( „Ce caractère facultatif donne lieu à un risque de sélection adverse par lequel seules les sociétés coopératives fortement exposées à des risques de perte contribueraient effectivement au Fonds Spécial de Protection.”)
Die waarborg heeft dus veel te maken met de context van dat moment.
Moniteur belge, 18.11.2011, 2. väljaanne, F 2011 2974 [2011/03368].
Arco, Ethias en de Gemeentelijke Holding waren verplicht om mee te gaan in de kapitaalverhoging van Dexia, omdat er geen andere oplossing was.
Arcopar maksis kokku 1794102 eurot, Arcofin 193391 ja Arcoplus 63265 eurot.
Dat was 2008. […] Op dat moment kende de federale wetgever — met vijf partijen — een overheidswaarborg toe.
Euroopa Parlamendi ja nõukogu direktiiv 94/19/EÜ, 30. mai 1994, hoiuste tagamise skeemide kohta (EÜT L 135, 31.5.1994, lk 5).
Het resultaat was dat de Arcospaarders hun geld lieten staan.
Direktiivi 94/19/EÜ artikli 1 punkti 4 kohaselt on krediidiasutus ettevõtja, kelle tegevuseks on hoiuste või muude tagasimakstavate vahendite vastuvõtmine üldsuselt ja laenu andmine oma huvides.
Ze dachten: we moeten blijven steunen, en als het misloopt is er een vangnet.’).
Direktiivi 94/19/EÜ artikli 1 punkti 1 kohaselt on hoius igasugune kreeditsaldo, mis tekib kontole jäänud vahenditest või tavalisest pangandustegevusest tulenevatest ajutistest olukordadest ja mille krediidiasutus peab kohaldatavate juriidiliste ja lepinguliste tingimuste kohaselt tagasi maksma, ning igasugune krediidiasutuse võlg, mida tõendab tema väljastatud sertifikaat.
A ‘branch 21’ life insurance product is defined in point 21 of Annex I to the Royal Decree on the supervision of insurance companies and relates to those insurance products which are not linked to an investment fund (as opposed to ‘branch 23’ life insurance products).
Hoiusevahemik 50000–100000 eurot ning kuni 100000 euro suurune tagatis 21. kategooria elukindlustustoodetele ja rahandusühistute füüsilisest isikust partnerite osakutele.
‘Branch 21’ products offer in principle a guaranteed investment return which can be increased by a participation in the investment result of the insurance company.
http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/fr/ecofin/103227.pdf.
The press release contains the following paragraph:
Direktiivi 94/19/EÜ artiklis 2 on öeldud järgmist:
‘The government has decided to extend the protection provided by this fund to other institutions in the financial sector (in particular insurance companies and recognised cooperatives) which request such protection for deposit-like products, such as, for example, “branch 21” life insurance products.
Tagatisskeemid ei hüvita järgmist:kõik vahendid, mida määratletakse krediidiasutuste omavahendeid käsitleva nõukogu 17. aprilli 1989. aasta direktiivis 89/299/EMÜ artiklis 2 „omavahenditena”.
Certains organismes ont déjà fait part de leur intérêt’).
Euroopa Parlamendi ja nõukogu direktiiv 97/9/EÜ, 3. märts 1997, investeeringute tagamise skeemide kohta (EÜT L 84, 26.3.1997, lk 22).
In that press release the Belgian government repeated its commitment to put in place a cooperative guarantee scheme:
http://www.ejustice.just.fgov.be/cgi_loi/change_lg.pl?language=fr&la=F&cn=1962010830&table_name=loi
‘The government confirms the commitment made by the previous government to offer a guarantee scheme to shareholders in recognised cooperatives’ ( ‘le gouvernment confirme l'engagement pris par le gouvernement précédent d'offrir un régime de garantie aux associés des sociétés coopératives agréées’).
Ühistutele tegevusloa andmise menetluses on oluline osa 20. juulil 1955 asutatud organil Conseil national de la Coopération (rahvuslik ühistunõukogu).