natgillin/translations-raw huggingface dataset:
However, because those warrants were a key factor in the success of the rights issue and private placement launched by the Bank in the framework of the Spring 2013 recapitalisation, the Commission considers that those warrants enabled the Bank to reduce the amount of aid by EUR 1444 million. Indeed due to the low capital ratio of the Bank prior to the recapitalisation and the high uncertainty prevailing at the time, the simulations which were then available showed that without the warrants, private investors would not have achieved a sufficient return and would not have participated.
Međutim, s obzirom na to da su ta jamstva bila ključni čimbenik za uspjeh izdavanja prava i privatne plasmane koje je Banka pokrenula u okviru dokapitalizacije iz proljeća 2013., Komisija smatra da su ta jamstva omogućila Banci da smanji iznos potpore za 1444 milijuna EUR. Doista, zbog loše stope kapitala Banke prije dokapitalizacije i zbog velike nesigurnosti koja je vladala u to vrijeme, tada raspoložive simulacije pokazale su da bez jamstava privatni ulagatelji ne bi ostvarili dovoljan povrat i ne bi sudjelovali.
Finally, the PSI and the December 2012 buy-back are a kind of remuneration to the State, as the latter’s debt towards the Bank was reduced by several billion euros. For all those reasons, the Commission can accept that the HFSF receives non-voting shares.
Naposljetku, program UPS-a i otkup iz prosinca 2012. na neki su način naknada državi jer je dug potonje prema Banci smanjen za nekoliko milijardi EUR. Zbog svih tih razloga Komisija prihvaća da GFFS primi dionice bez prava glasa.
It is thus concluded that the HFSF recapitalisations (measures B1, B2, B3 and B4) are appropriate, necessary and proportionate, in the light of point 15 of the 2008 Banking Communication, of the Recapitalisation Communication and of the 2011 Prolongation Communication.
Stoga se zaključuje da su dokapitalizacije koje je proveo GFFS (mjere B1, B2, B3 i B4) primjerene, nužne i razmjerne u kontekstu točke 15. Komunikacije o bankarstvu iz 2008., Komunikacije o dokapitalizaciji i Komunikacije o produženju iz 2011.
Measures B1, B2, B3 and B4 therefore comply with the 2008 Banking Communication, the Recapitalisation Communication and the 2011 Prolongation Communication.
Mjere B1, B2, B3 i B4 stoga su usklađene s Komunikacijom o bankarstvu iz 2008., Komunikacijom o dokapitalizaciji i Komunikacijom o produženju iz 2011.
The consideration paid by the Bank for the acquisition of the ATE Transferred Activities was determined at 0,6 % of the value of the transferred deposits and amounted to approximately EUR 95 million. It was equivalent to 0,02 % of the total assets of the Bank at the time of the acquisition.
Naknada koju je Banka platila za preuzimanje Prenesenih djelatnosti banke ATE utvrđena je na 0,6 % vrijednosti prenesenih depozita i iznosila je otprilike 95 milijuna EUR. Taj je iznos bio jednak 0,02 % ukupne imovine Banke u trenutku preuzimanja.
ATE was not deemed viable on a stand-alone basis by the Bank of Greece when it reviewed the viability of all the Greek banks early in 2012.
Prilikom pregleda održivosti svih grčkih banaka početkom 2012, Grčka središnja banka nije smatrala da je banka ATE samostalno održiva banka.
Furthermore, the Bank of Greece analysed different alternatives for ATE (for example, liquidation) and concluded that selling the ATE Transferred Activities was the most attractive option, since it would reduce the execution risk and would minimise the costs for Greece.
Osim toga, Grčka središnja banka analizirala je različite alternative za banku ATE (primjerice, likvidaciju) i zaključila je da je prodaja prenesenih djelatnosti banke ATE najbolje rješenje jer bi se tako smanjio rizik izvršenja i na najmanju moguću mjeru sveli troškovi za Grčku.
Geniki was not deemed viable on a stand-alone basis by the Bank of Greece, when it reviewed the viability of all the Greek banks early in 2012.
Prilikom pregleda održivosti svih grčkih banaka početkom 2012., Grčka središnja banka nije smatrala da je banka Geniki samostalno održiva banka.
Geniki was generating large losses for Société Générale which therefore wanted to sell it and, if no sale was possible, could have considered how to let it fail.
Banka Geniki stvarala je velike gubitke za banku Société Générale koja ju je stoga željela prodati, a ako prodaja nije bila moguća, mogla je razmotriti i to kako je pustiti da propadne.
The HFSF respected that commitment in the framework of the Spring 2013 recapitalisation.
GFFS je tu preuzetu obvezu ispunio u okviru dokapitalizacije iz proljeća 2013.
That capital injection is aid to the Cypriot Transferred Activities and not to the Bank as explained in section 6.2.1.
Dokapitalizacija je potpora Ciparskim prenesenim djelatnostima, a ne Banci, kako je objašnjeno u odjeljku 6.2.1.
To decrease its funding costs, Greece has also given a commitment that the Bank will continue reducing the interest rates it pays on deposits in Greece, as described in recital 137.
Kako bi smanjila svoje troškove financiranja, Banka se obvezala i nastaviti snižavati kamatne stope koje plaća na depozite, kako je opisano u uvodnoj izjavi 137.
By 2017, the total costs of the Bank in Greece will have decreased by a further […]% compared to 2013.
Do 2017. ukupni troškovi Banke u Grčkoj snizit će se za dodatnih […] % u usporedbi s 2013.
To achieve that target Greece has committed that the Bank will reduce its branches and employees in Greece to […] and […] respectively at 31 December 2017, with maximum total costs in Greece of EUR […] billion. The expected cost-to-income ratio will be less than […] % at the end of the restructuring period.
Kako bi postigla taj cilj, Banka se obvezala smanjiti broj svojih podružnica na […], a broj zaposlenika na […] do 31. prosinca 2017., uz najviše ukupne troškove u Grčkoj od […] milijardi EUR. Očekivani omjer troškova i prihoda bit će niži od […] % na kraju razdoblja restrukturiranja.
The amount of additional capital which was raised in 2014, namely EUR 1750 million, is sufficient to cope with the baseline scenario of the 2013 stress test in the restructuring period and to repay the preference shares, which the Bank did in May 2014 [117].
Iznos dodatnog kapitala koji je prikupljen 2014., naime 1750 milijuna EUR, dovoljan za suočavanje s osnovnim scenarijem ispitivanja otpornosti na stres iz 2013. u razdoblju restrukturiranja i za otplatu povlaštenih dionica, što je Banka učinila u svibnju 2014.
[…] The Commission recalls that in the assessment of the capital needs under the baseline scenario, the Bank of Greece already introduced several adjustments which resulted in an increase of the estimated capital needs compared to the capital needs estimated by the Bank in its own baseline scenario.
Komisija podsjeća da je u procjeni potreba za kapitalom u skladu s osnovnim scenarijem Grčka središnja banka već uvela nekoliko prilagodbi koje su dovele do povećanja potreba za kapitalom u usporedbi s potrebama za kapitalom koje je Banka procijenila u vlastitom osnovnom scenariju.
Its costs will further decrease until 2017.
Njezini troškovi dodatno će se smanjivati do 2017.
Its workforce is being reduced and salaries adjusted downwards.
Smanjuje se broj zaposlenika, a plaće se prilagođavaju prema dolje.
The historical shareholders of the Bank were diluted by the rights issue completed in 2009 [118] and then again by the HFSF recapitalisation (measure B4) and private capital raising of 2013 and March 2014.
Udjeli postojećih dioničara Banke u velikoj su mjeri razvodnjeni izdavanjem prava okončanim 2009., [119] a potom ponovno dokapitalizacijom GFFS-a (mjera B4) i prikupljanjem privatnog kapitala iz 2013. i iz ožujka 2014.
For instance, the stake held by the shareholders of the Bank, which at the time included the investors that injected money in 2009, was reduced from 100 % prior to the Spring 2013 recapitalisation to only 2,3 % after that recapitalisation.
Primjerice, udjel koji su držali dioničari Banke, koji su u tom trenutku obuhvaćali ulagatelje koji su unijeli novac 2009., smanjen je sa 100 % prije dokapitalizacije iz proljeća 2013. na samo 2,3 % nakon te dokapitalizacije.
On 2 September 2009, Greece notified a number of amendments to the support measures and a prolongation until 31 December 2009 that were approved on 18 September 2009 (See Commission Decision of 18 September 2009 in State Aid N 504/2009 ‘Prolongation and amendment of the Support Measures for the Credit Institutions in Greece’ ( OJ C 264, 6.11.2009, p. 5)).
Grčka je 2. rujna 2009. obavijestila o nizu izmjena mjera potpore i produženju do 31. prosinca 2009. koji su odobreni 18. rujna 2009. (vidjeti Odluku Komisije od 18. rujna 2009. o državnoj potpori N 504/2009 „Produženje i izmjena mjera potpore za kreditne institucije u Grčkoj” ( SL C 264, 6.11.2009., str. 5.)).
On 25 January 2010, the Commission approved a second prolongation of the support measures until 30 June 2010 (See Commission Decision of 25 January 2010 in State Aid N 690/2009 ‘Prolongation of the Support Measures for the Credit Institutions in Greece’ ( OJ C 57, 9.3.2010, p. 6)).
Komisija je 25. siječnja 2010. odobrila drugo produženje mjera potpore do 30. lipnja 2010. (vidjeti Odluku Komisije od 25. siječnja 2010. o državnoj potpori N 690/2009 „Produženje mjera potpore za kreditne institucije u Grčkoj” ( SL C 57, 9.3.2010., str. 6.)).
On 30 June 2010, the Commission approved a number of amendments to the support measures and an extension until 31 December 2010 (See Commission Decision of 30 June 2010 in State Aid N 260/2010 ‘Extension of the Support Measures for the Credit Institutions in Greece’ ( OJ C 238, 3.9.2010, p. 3)).
Komisija je 30. lipnja 2010. odobrila niz izmjena mjera potpore i produženje do 31. prosinca 2010. (vidjeti Odluku Komisije od 30. lipnja 2010. o državnoj potpori N 260/2010 „Produženje mjera potpore za kreditne institucije u Grčkoj” ( SL C 238, 3.9.2010., str. 3.)).
On 21 December 2010 the Commission approved a prolongation of the support measures until 30 June 2011 (See Commission Decision of 21 December 2010 in State aid SA 31998 (2010/N) ‘Fourth extension of the Support measures for the credit Institutions in Greece’ ( OJ C 53, 19.2.2011, p. 2)).
Komisija je 21. prosinca 2010. odobrila produženje mjera potpore do 30. lipnja 2011. (vidjeti Odluku Komisije od 21. prosinca 2010. o državnoj potpori SA 31998 (2010/N) „Četvrto proširenje mjera potpore za kreditne institucije u Grčkoj” ( SL C 53, 19.2.2011., str. 2.)).
On 4 April 2011 the Commission approved an amendment (See Commission Decision of 4 April 2011 in State Aid SA.32767 (2011/N) ‘Amendment to the Support Measures for the Credit Institutions in Greece’ ( OJ C 164, 2.6.2011, p. 8)).
Komisija je 4. travnja 2011. odobrila izmjenu (vidjeti Odluku Komisije od 4. travnja 2011. o državnoj potpori SA.32767 (2011/N) „Izmjena mjera potpore kreditnim institucijama u Grčkoj” ( SL C 164, 2.6.2011., str. 8.)).
On 27 June 2011 the Commission approved a prolongation of the support measures until 31 December 2011 (See Commission Decision of 27 June 2011 in State aid SA.33153 (2011/N) ‘Fifth prolongation of the Support measures for the credit Institutions in Greece’ ( OJ C 274, 17.9.2011, p. 6)).
Komisija je 27. lipnja 2011. odobrila produženje mjera potpore do 31. prosinca 2011. (vidjeti Odluku Komisije od 27. lipnja 2011. o državnoj potpori SA.33153 (2011/N) „Peto proširenje mjera potpore za kreditne institucije u Grčkoj” ( SL C 274, 17.9.2011., str. 6.)).
On 6 February 2012, the Commission approved a prolongation of the support measures until 30 June 2012 (See Commission Decision of 6 February 2012 in State aid SA.34149 (2011/N) ‘Sixth prolongation of the Support Measures for the Credit Institutions in Greece’ ( OJ C 101, 4.4.2012, p. 2)).
Komisija je 6. veljače 2012. odobrila produženje mjera potpore do 30. lipnja 2012. (vidjeti Odluku Komisije od 6. veljače 2012. o državnoj potpori SA.34149 (2011/N) „Šesto produženje mjera potpore za kreditne institucije u Grčkoj” ( SL C 101, 4.4.2012., str. 2.)).
On 6 July 2012, the Commission approved a prolongation of the support measures until 31 December 2012 (See Commission Decision of 6 July 2012 in State Aid case SA.35002 (2012/N) - Greece ‘Prolongation of the Support Scheme for Credit Institutions in Greece’ ( OJ C 77, 15.3.2013, p. 14)).
Komisija je 6. srpnja 2012. odobrila produženje mjera potpore do 31. prosinca 2012. (vidjeti Odluku Komisije od 6. srpnja 2012. u predmetu državne potpore SA.35002 (2012/N) – Grčka „Produženje programa potpore za kreditne institucije u Grčkoj” ( SL C 77, 15.3.2013., str. 14.)).
On 22 January 2013, the Commission approved a prolongation of the Guarantee Scheme and the Bond Loan Scheme until 30 June 2013 (See Commission Decision of 22 January 2013 in State Aid case SA.35999 (2012/N) - Greece ‘Prolongation of the Guarantee Scheme and the Bond Loan Scheme for Credit Institutions in Greece’ ( OJ C 162, 7.6.2013, p. 6). On 25 July 2013, the Commission approved a prolongation of the Guarantee Scheme and the Bond Loan Scheme until 31 December 2013 (See Commission Decision of 25 July 2013 in State Aid case SA.36956 (2013/N) - Greece ‘Prolongation of the Guarantee Scheme and the Bond Loan Scheme for Credit Institutions in Greece’, not yet published. On 14 January 2014, the Commission approved a prolongation of the Guarantee Scheme and the Bond Loan Scheme until 30 June 2014 (See Commission Decision of 14 January 2014 in State Aid case SA. 37958 (2013/N) - Greece ‘Prolongation of the Guarantee Scheme and the Bond Loan Scheme for Credit Institutions in Greece’, not yet published.
Komisija je 22. siječnja 2013. odobrila produženje programa osiguranja jamstva i programa zaduživanja izdavanjem obveznica do 30. lipnja 2013. (vidjeti Odluku Komisije od 22. siječnja 2013. u predmetu državne potpore SA.35999 (2012/N) – Grčka „Produženje programa osiguranja jamstva i programa zaduživanja izdavanjem obveznica za kreditne institucije u Grčkoj” ( SL C 162, 7.6.2013., str. 6.). Komisija je 25. srpnja 2013. odobrila produženje programa osiguranja jamstva i programa zaduživanja izdavanjem obveznica do 31. prosinca 2013. (vidjeti Odluku Komisije od 25. srpnja 2013. u predmetu državne potpore SA.36956 (2013/N) – Grčka „Produženje programa osiguranja jamstva i programa zaduživanja izdavanjem obveznica za kreditne institucije u Grčkoj” koja još nije objavljena). Komisija je 14. siječnja 2014. odobrila produženje programa osiguranja jamstva i programa zaduživanja izdavanjem obveznica do 30. lipnja 2014. (vidjeti Odluku Komisije od 14. siječnja 2014. u predmetu državne potpore SA. 37958 (2013/N) – Grčka „Produženje programa osiguranja jamstva i programa zaduživanja izdavanjem obveznica za kreditne institucije u Grčkoj” koja još nije objavljena).
The Hellenic Republic shall ensure that the Bank is implementing the restructuring plan submitted on 25 June 2014.
Helenska Republika obvezna je osigurati da Banka provodi plan restrukturiranja koji je dostavljen 25. lipnja 2014.
The restructuring plan is based on macroeconomic assumptions as provided by the European Commission (the ‘Commission’) in the Appendix as well as regulatory assumptions.
Plan restrukturiranja temelji se na makroekonomskim pretpostavkama koje je navela Europska komisija („Komisija”) u Dodatku i regulatornim pretpostavkama.
In case of a divestment of Geniki, this figure shall be revised to […].
U slučaju otuđenja banke Geniki taj će se iznos revidirati na […].
Number of employees in Greece: The number of Full Time Equivalents (the ‘FTEs’) in Greece (Greek banking and non-banking activities) shall amount to […] at the maximum on 31 December 2017.
Broj zaposlenika u Grčkoj: Iznos u ekvivalentu punog radnog vremena („FTE”) u Grčkoj (bankarske i nebankarske djelatnosti u Grčkoj) 31. prosinca 2017. smije iznositi najviše […].
The total size of the portfolio of foreign assets shall be reduced to a maximum amount of EUR […] billion. If the Bank engages in […], this cap of EUR […] billion shall be increased to EUR […] billion.
Ukupni portfelj inozemne imovine mora se smanjiti na najviše […] milijardi EUR. Ako Banka bude sudjelovala u […], ta gornja granica od […] milijardi EUR povećat će se na […] milijardi EUR.
The Bank will reduce its foreign assets exposure to EUR […] billion at the end of June 2018.
Banka će smanjiti izloženost svoje imovine u inozemstvu na […] milijardi EUR krajem lipnja 2018.
That figure represents a reduction of […]% [70] compared to the end of 2012 [71].
Ta brojka predstavlja smanjenje od […] % [71] u usporedbi s krajem 2012 [72].
See Commission Decision of 27 July 2012 in State aid SA. 34826 (2012/C, ex 2012/NN), ‘Recapitalisation of Piraeus Bank by the Hellenic Financial Stability Fund’ ( OJ C 359, 21.11.2012, p. 43).
Vidjeti Odluku Komisije od 27. srpnja 2012. u predmetu državne potpore SA 34826 (2012/C, ex 2012/NN), „Dokapitalizacija Grčke nacionalne banke koju je proveo Grčki fond za financijsku stabilnost” ( SL C 359, 21.11.2012., str. 43.).
NBG [26]
GSB [26]
ELA is an exceptional measure enabling a solvent financial institution, facing temporary liquidity problems, to receive Eurosystem funding without such an operation being part of the single monetary policy. The interest rate paid by a financial institution for ELA is […] basis points (‘bps’) higher than the interest it pays for regular Central Bank refinancing.
Likvidnosna pomoć u izvanrednim situacijama iznimna je mjera kojom se solventnim financijskim institucijama koje su suočene s privremenim problemima u pogledu likvidnosti omogućava primanje financijskih sredstava iz Eurosustava, pri čemu ta operacija nije dio jedinstvene monetarne politike.
The Bank expects to be able to pay lower interest rates on its deposits on the back of the more stable environment and in particular the anticipated stabilisation and recovery of the Greek economy, which is expected to grow again from 2014 onwards. Spreads paid on deposits are expected to decrease in Greece [63]. That decrease in spreads would be mainly achieved by paying much lower rates on time deposits.
Banka očekuje da će moći plaćati niže kamatne stope na svoje depozite na temelju stabilnijeg okruženja i posebno na temelju predviđene stabilizacije i oporavka grčkog gospodarstva, za koje se očekuje da će se ponovno rasti od 2014. nadalje.
Its net loan-to-deposit ratio in Greece will decrease to […]% in 2017 (down from 114 % in 2013 [65]), while its capital adequacy will further improve. (122) Another priority of the Bank is the management of non-performing loans (‘NPL’). The Bank will enhance its credit processes regarding both the origination of loans (better collateral coverage and reduced limits) and the management of NPL.
Njezin će omjer kredita i depozita u 2017. pasti na […] % (smanjenje sa 114 % u 2013. [66]), dok će se njezina adekvatnost kapitala nastaviti poboljšavati.
Greece has given a commitment that the Bank will divest a number of securities. In addition, the Bank will not purchase non-investment grade securities, with limited exceptions [79].
Grčka se obvezala da će Banka otuđiti niz vrijednosnih papira.
2,1 %
2,1 %
13,8 %
13,8 %
4,5 %
4,5 %
3,2 %
3,2 %
23,7 %
23,7 %
21,6 %
21,6 %
17,3 %
17,3 %
19,4 %
19,4 %
As underlined in the Piraeus Opening Decision, that remuneration is lower than the 7 % to 9 % range defined in the Recapitalisation Communication. However, the period of low remuneration was limited to one year for measure B1 and five months for measure B2 (that is to say, until the conversion of the bridge recapitalisation into a standard recapitalisation in ordinary shares, namely measure B4).
Kako je naglašeno u Odluci o pokretanju postupka u pogledu banke Piraeus, ta je naknada niža od raspona od 7 % do 9 % kako je definirano u Komunikaciji o dokapitalizaciji Međutim, razdoblje niske naknade bilo je ograničeno na jednu godinu za mjeru B1 i pet mjeseci za mjeru B2 (tj. do konverzije dokapitalizacije za premošćivanje u standardnu dokapitalizaciju u redovnim dionicama, odnosno mjere B4).
Furthermore, MBG was adequately capitalised by BCP and, as a condition of the transaction, BCP injected EUR 400 million of capital into the Bank [109]. (313) It is concluded that, in the light of the specificities of the transaction (acquisition at a very low price of a fully capitalised bank and injection of capital by the seller into the Bank), the acquisition of MBG does not generate any further capital needs for the Bank and therefore, the acquisition of MBG exceptionally does not contravene the requirement to minimise the aid.
Nadalje, BCP je primjereno dokapitalizirao MBG, a kao uvjet za transakciju, BCP je u Banku unio kapital u iznosu od 400 milijuna EUR [110].
That fact was also pointed out in recitals 63 and 74 of the Piraeus Opening Decision. As a consequence there is less need for the Bank to address moral hazard issues in its restructuring plan than for other aided financial institutions which accumulated excessive risks.
Ta je činjenica istaknuta i u uvodnim izjavama 63. i 74. Odluke o pokretanju postupka u pogledu banke Piraeus.
As the aid measures are less distortive, the measures taken to limit distortions of competition should therefore be proportionately softened. Since the PSI programme and the debt buy-back constitute a debt waiver in favour of the State, the remuneration of the State when recapitalising banks can be lower.
Kao posljedica toga, potreba Banke za rješavanjem pitanja moralnog hazarda u svojem planu restrukturiranja manja je od potrebe drugih financijskih institucija koje primaju potporu, a koje su nagomilale prekomjerne rizike.
The Commission considers that those losses are mainly due to the exceptionally deep and protracted recession GDP contraction of approximately 25 % over five years, and are not due to risky lending practices by the Bank. As a result, the aid granted to cover those losses does not create moral hazard, which is the case when the aid shelters a bank from the consequences of past risky behaviours.
Drugi su izvor gubitaka za Banku gubici po kreditima odobrenima grčkom stanovništvu i poduzećima.
The achievement of such a decrease in the cost of deposits will be a key contribution to improving the pre-provisioning profitability of the Bank. (331) Since the start of the crisis the Bank has made large acquisitions which dramatically increased its size and deposits base. The Bank successfully integrated the acquired business in record time. The Bank is currently attempting to realise all the synergies possible following those acquisitions.
Postizanje takvog sniženje troškova depozita bit će ključan doprinos poboljšanju dobiti Banke prije rezerviranja.
Restructuring plan submitted on 25 June 2014, p. 149. [71] See Commitments in the Annex, chapter I.
Plan restrukturiranja dostavljen 25. lipnja 2014., str. 149.
The Commission also observes that part of the liquidity needs of the Bank stems from the atypical form of the HFSF’s participation in the first and second bridge recapitalisations as well as in the Spring 2013 recapitalisation. Indeed, as consideration for its participation, the HFSF transferred to the Bank EFSF notes instead of cash. The Bank holds a large amount of medium- and long-term EFSF notes, which increase its funding needs compared to a situation where the recapitalisation would have been paid in cash. That part of the liquidity needs does not reflect an inappropriate business model or balance sheet structure. It will automatically disappear when the EFSF notes mature.
http://www.piraeusbankgroup.com/en/investors/financials/presentation-audio-archive.
See recital 132. [119] The size of the proposed own contribution measure has to be compared with the size of the Bank before the acquisitions of the ATE Transferred Activities, Geniki, BCP and the Cypriot Transferred Activities for the reason explained in section 7.1.3.5.
Vidjeti uvodnu izjavu (132).
Commission Decision (EU) 2015/456
Odluka Komisije (EU) 2015/456
of 5 September 2014
od 5. rujna 2014.
on the aid scheme No SA.26212 (11/C) (ex 11/NN — ex CP 176/A/08) and SA.26217 (11/C) (ex 11/NN — ex CP 176/B/08) implemented by the Republic of Bulgaria in the context of swaps of forest land
o programima državnih potpora br. SA.26212 (11/C) (ex 11/NN – ex CP 176/A/08) i SA.26217 (11/C) (ex 11/NN – ex CP 176/B/08) koje primjenjuje Republika Bugarska u kontekstu zamjena šumskog zemljišta