natgillin/translations-raw huggingface dataset:
Against this background the Commission preliminarily concluded that the three measures constitute State aid within the meaning of Article 107(1) TFEU.
Stoga su grčka tijela tvrdila da razlog zašto društvo nije pokušalo dobiti bankovne zajmove bez državnih jamstava nije bila njegova nemogućnost da dobije ta sredstva, već činjenica da mu je bilo onemogućeno dati kolateral zbog opasnosti koja bi nastala za nacionalne sigurnosne interese.
The Commission, furthermore, expressed doubts as to the compatibility of this aid with the internal market and in particular the 2004 Rescue and Restructuring Guidelines, which was and remains the relevant legal framework for assessing State aid to companies in difficulty granted between 2004 and 2011.
Slično tome, u pogledu državnog jamstva za zajam od 10 milijuna EUR koji je 2011. odobrila banka Tbank (zajam broj 11 iz prethodne tablice 2.), grčka tijela pojasnila su u podnesku od 3. srpnja 2017. da je HDS primio predujam od 6 milijuna EUR (od toga 3 milijuna EUR 5. srpnja 2011. i preostalih 3 milijuna EUR 2. studenoga 2011.).
COMMENTS BY GREECE
Budući da zajam na temelju zaloga obveznica nikada nije isplaćen, grčka tijela tvrde da predujam nije bio obuhvaćen državnim jamstvom.
Distinction of military and civil production — Essential security interests of Greece
Grčka tijela tvrdila su da je i 2. mjera bila usmjerena samo na potporu vojnoj proizvodnji HDS-a i da ne bi trebala biti predmet ocjene državnih potpora jer je obuhvaćena iznimkom iz članka 346. stavka 1. točke (b) UFEU-a.
In their comments in the context of the formal investigation procedure, the Greek authorities argued that the three measures aimed only at supporting the military production of HDS and were, in their entirety, necessary for the protection of the essential interests of the security of Greece.
Grčka tijela temeljila su svoje tvrdnje na činjenici da se industrijsko postrojenje […], na koje je 2. mjera bila usmjerena, upotrebljava isključivo za vojnu proizvodnju proizvoda […].
The Greek authorities provided a breakdown of the company's total revenues for the period 2004-2011, which showed that out of a total revenue of EUR 482,4 million, 91,23 % resulted from contracts for military products sold to the Greek Armed Forces or related to obligations of the Greek Armed Forces and national defence and security, 3,11 % resulted from contracts for exported military products (including to Cyprus) and 5,66 % resulted from the sale of civil products.
Treća mjera: povećanje kapitala iz 2011.
As regards the civil production of HDS, the Greek authorities argued that it was carried out in production lines that were physically and organisationally separate from the military production ([…]) and that HDS kept separate accounts for the costs and revenues of the military and civil production.
Grčka tijela tvrdila su da je odluka grčke države kao većinskog dioničara da provede predmetna povećanja kapitala bila u skladu s ponašanjem ulagača u tržišnom gospodarstvu u sličnoj situaciji.
Regarding the military production, the Greek authorities submitted that it was intrinsically linked with the requirements and supply of the Greek Armed Forces and that it exclusively concerned products covered by the list of the arms, munition and war material, drawn up by the Council in 1958 (‘the 1958 Council list’).
Grčka tijela tvrdila su da je njihova odluka u svojstvu dioničara da povećaju dionički kapital društva radi osiguranja njegove održivosti bila poštena komercijalna odluka s obzirom na presudnu ulogu društva u nacionalnoj obrani i sigurnosti.
In this context Greece provided a summary of all the contracts and sales of military production of HDS since 2003, which consisted in ammunition, including light ammunition, grenades, tank ammunition, weapon systems, infantry weapons including pistols, guns, mortars and aerospace products including fuel tanks and aircraft external pylons.
Stoga prema njihovu mišljenju povećanja kapitala nisu bila državna potpora.
The Greek authorities, furthermore, explained that HDS' military production was carried out exclusively in the context of specific contracts, in the sense that HDS was not stocking military products.
Međutim, u dopisu od 3. srpnja 2017. grčka su tijela potvrdila da nemaju dodatne informacije ili dokumente kojima bi potkrijepila svoja opažanja o povećanju kapitala odgovarajući na zahtjev Komisije da dostave, ako je dostupno, i. plan restrukturiranja za HDS sastavljen prije odluke o povećanju kapitala društva, ii. ex ante ekonomsku analizu koju je provela država kako bi utvrdila je li pretvorba potraživanja koja proizlaze iz aktivacije jamstava u kapital ekonomski isplativija od zadržavanja ili naplate tih potraživanja te iii. ex ante analizu povrata koju je provela država u pogledu svježeg kapitala za povećanja kapitala.
According to the Greek authorities, HDS' military production lines comprise the only national industrial complex used to manufacture arms and ammunition in Greece and are, therefore, an essential part of Greece's national industrial defence infrastructure.
U svakom slučaju, kao i za druge dvije mjere, grčka tijela tvrdila su da je i 3. mjera bila usmjerena samo na potporu vojnoj proizvodnji HDS-a i da ne bi trebala biti predmet ocjene državnih potpora jer je obuhvaćena iznimkom iz članka 346. stavka 1. točke (b) UFEU-a.
HDS was established as defence company and has operated since its establishment as such.
Kad je riječ o ukupnom iznosu predmetnih povećanja kapitala, grčka su tijela u podnesku od 1. srpnja 2013. tvrdila da ona iznose 107,6 milijuna EUR.
Its infrastructures were always included in the national defence planning of Greece, with a view to serving the interest of national defence and security.
Međutim, u podnesku od 7. kolovoza 2013. grčka su tijela konačno pojasnila da su povećanja kapitala obuhvaćena 3. mjerom uključivala ukupno povećanje kapitala od 158,19 milijuna EUR, kako je utvrđeno u odluci od 6. ožujka 2013.
In this sense, HDS needed to maintain a fully operational stand-by capacity of its military production lines for products in the 1958 Council list even beyond actual and current demand in order to protect essential security interests of Greece, such as to ensure security of supply of the Greek armed forces and their operational autonomy as well as to be able to meet demand in times of crisis, mobilisation or war.
Od ukupnog povećanja kapitala u iznosu od 158,19 milijuna EUR 154,19 milijuna EUR proizašlo je iz kapitalizacije dugova koje je HDS imao prema državi.
Against this background the Greek authorities argued that due to Greece's geopolitical position, which demands a basic self-sufficiency in essential weapons and ammunition, HDS' military production was essential for its national security.
Ti su dugovi nastali aktivacijom jamstava dodijeljenih u okviru 1. mjere jer HDS nije mogao otplatiti zajmove.
As regards the exports of military products, the Greek authorities underlined that the total revenue stemming from exports during the time period from the establishment of the company in 2004 until 2011, amounted to EUR 15,02 million (i.e. 3,1 % of the total revenue or 3,3 % of the revenue from defence activities).
Preostala 4 milijuna EUR dodijeljena su kao svježi kapital.
The Greek authorities argued that the remaining part of the exports, representing a very small percentage of HDS' total turnover, relates to exports to third countries […] on the basis of contracts that were directly awarded to HDS.
Skupština se složila na sastanku održanom 25. listopada 2010. da kapital HDS-a treba povećati.
In conclusion, as regards the military production, the Greek authorities explained that the three measures aimed at the support of a military producer, which plays a crucial role in the supply of arms and ammunition for the Greek Armed Forces.
Međutim, Skupština je točne iznose povećanja kapitala utvrdila na nekoliko sastanaka tijekom 2011. koji su održani na dane kada je Grčka odobrila odgovarajuća sredstva.
Thus, its operation is important for the essential security interests of Greece.
Prema grčkim tijelima distribucija povećanja kapitala u okviru 3. mjere i datumi dodjele bili su sljedeći:
The Greek authorities supported their argumentation by citing a series of Greek legal acts, which established EBO's and PYRKAL's role in serving the Greek essential security interests, later transferred to HDS.
Tablica 4.
Through those arguments, the Greek authorities explicitly invoked Article 346(1)(b) TFEU with regard to the measures under investigation and argued that those were necessary for the protection of essential interests of Greece's security connected with the production of or trade in arms, munition and war material.
Datumi dodjele povećanja kapitala iz 2011.
The Greek authorities admitted that also HDS' civil production was loss-making.
Datum odluke Skupštine
They explained that those losses were caused by HDS' high operating costs, which were linked to the fact that part of the civil production was subcontracted to the military production for contracts with the Greek Armed Forces.
Iznos u eurima
In addition, the military and civil production lines were at times both using the administrative and distribution services of HDS.
4. svibnja 2011.
The Greek authorities argued that measure 1 aimed exclusively at supporting the military production of HDS, as the loans were spent only for military purposes directly linked with protecting essential security interests of Greece.
Kapitalizacija dugova koji proizlaze iz aktivacije jamstava
The Greek authorities in this regard argued that the military production was separate from the civil production and that the legal acts providing the State guarantees included a reference whereby the guaranteed loans aimed at the ‘coverage of operating needs of the company for the production of military material for the country’.
16. prosinca 2011.
The Greek authorities also explained that it would have been impossible for HDS to provide any assets as a pledge for the loans in question, because the installations of HDS were protected by national security rules which did not allow access thereof.
Gotovinsko plaćanje
As such, the provision of the company's real estate as collateral would, according to the Greek authorities, contradict the national security purposes served by the company and would potentially entail disclosure of classified information.
Grčka tijela tvrdila su da povećanje kapitala u iznosu od 154,19 milijuna EUR koje je nastalo kapitalizacijom dugova koji proizlaze iz aktiviranih jamstava ne bi trebalo smatrati „novom” državnom potporom HDS-u jer se, prema obrazloženju Komisije iz odluke od 6. ožujka 2013., ono već smatra državnom potporom u kontekstu 1. mjere.
It follows that HDS could not attempt to secure loans from banks by providing part of its real estate as collateral.
Podjela HDS-a
Thus, the Greek authorities argued that the reason why the company did not attempt to secure bank loans without State guarantees was not its inability to obtain such funds, but rather the fact that it was precluded from providing collateral due to the risk that would result for the national security interests.
Prema tom prijedlogu HDS je trebao biti podijeljen na dva dijela, civilni i vojni.
As regards the State guarantee for a loan of EUR 30 million by the National Bank of Greece, Alpha Bank and EFG Eurobank in 2011 (loan number 10 in Table 2 above), the Greek authorities clarified in their submissions of 7 August 2013 and of 3 July 2017 that eventually HDS only received an advance payment of EUR 6 million on 8 September 2011, and that after the withdrawal of the banks, only EUR 7095858 from that bond loan was issued on 19 March 2013.
Taj se postupak nazivao „podjela”.
Therefore, any advantage from this State guarantee should not exceed that amount.
Civilni dio trebalo je likvidirati.
Similarly, as regards the State guarantee for a loan of EUR 10 million by Tbank in 2011 (loan number 11 in Table 2 above), the Greek authorities clarified in their submission of 3 July 2017 that HDS received an advance payment of EUR 6 million (out of which EUR 3 million on 5 July 2011 and another EUR 3 million on 2 November 2011).
Vojni dio trebalo je restrukturirati, a proizvodnju ograničiti na proizvode koji su nužni za osnovne sigurnosne interese zemlje.
As the bond loan was never issued, the Greek authorities allege that the advance payment was not covered by a State guarantee.
Nakon rasprava sa službama Komisije i drugih institucija grčka su se tijela dopisom od 16. prosinca 2013. obvezala provesti podjelu te su dostavila akcijski plan.
Thus, according to the Greek authorities the total State guarantees for loans in 2011 was EUR 7095858, instead of EUR 40 million as originally mentioned in the decision of 6 March 2013.
Odlukom Uprave od 26. veljače 2014. pokrenut je proces podjele društva, a 28. veljače 2014. utvrđen je kao datum za restrukturiranje (datum „bilance restrukturiranja”).
The Greek authorities did not contest the guarantees and the loans for the other years.
Odlukom Uprave od 21. svibnja 2014. utvrđeno je da će se sljednik, koji će biti dioničko društvo koje će se u budućnosti baviti isključivo proizvodnjom oružja, streljiva i ratne opreme te trgovinom njima za osnovne sigurnosne interese Grčke, zvati Hellenic Defence Systems Industrial Commercial Ltd (dalje u tekstu: „vojni HDS”).
The Greek authorities argued that measure 2 also aimed only at supporting the military production of HDS and should not be subject to a State aid assessment, as it would be covered by the exception of Article 346(1)(b) TFEU.
Istom je odlukom utvrđeno da će se sljednik, koji će biti dioničko društvo koji će preuzeti isključivo civilne aktivnosti izvornog društva, zvati Hellenic Civilian Production Systems Industrial Commercial Ltd (dalje u tekstu: „civilni HDS”).
The Greek authorities based their argumentation on the fact that the […] industrial facility, which was the object of measure 2, is exclusively used for military production of products […].
Odlukom Uprave od 26. svibnja 2014. odobreni su plan za podjelu društva, bilanca restrukturiranja i izvješće s obrazloženjem Uprave.
Measure 3: 2011 capital increase
Ovlašteni predstavnici društva potpisali su plan za podjelu društva istog dana na koji je plan dostavljen nadzornom tijelu.
The Greek authorities argued that the decision of the Greek state, as majority shareholder, to carry out the relevant capital increases was in line with the behaviour of a market economy investor in a similar situation.
Službeno revizorsko izvješće podneseno je 7. srpnja 2014. radi procjene i utvrđivanja knjigovodstvene vrijednosti imovine u vlasništvu obrambenog i vojnog sektora društva.
The Greek authorities argued that their decision as a shareholder to increase the company's share capital with a view to ensuring its viability was a fair commercial decision, given its decisive role in national defence and security.
Na sastanku od 28. kolovoza 2014.
Thus, in their view, the capital increases did not involve State aid.
Skupština je odobrila odluku o podjeli društva, bilancu restrukturiranja, izvješće s obrazloženjem Uprave, revizorsko izvješće o knjigovodstvenoj vrijednosti imovine u vlasništvu izvornog društva i referentni okvir oba društva sljednika.
However, in their letter of 3 July 2017, the Greek authorities confirmed they did not possess additional information or documents to support their observations on the capital increase, by reference to the request of the Commission to produce, if available, (i) any restructuring plan for HDS drawn up before the decision to increase the company capital, (ii) any ex ante economic analysis carried out by the State as to whether the conversion of the claims stemming from the calling of the guarantees into capital was economically more advantageous than keeping or enforcing those claims, and (iii) any ex ante return analysis carried out by the State as regards the fresh capital provided for the capital increases.
Usto su imenovane su Uprave dvaju društava sljednika.
In any event, just as with the other two measures, the Greek authorities in addition argued that also measure 3 aimed only at supporting the military production of HDS and should not be subject to a State aid assessment, as it would be covered by the exception of Article 346(1)(b) TFEU.
Grčka tijela tvrdila su da je sva ta imovina povezana isključivo s proizvodnjom obrambenih proizvoda kako je definirano u članku 346.
As regards the total amount of the relevant capital increases, the Greek authorities, in their submission of 1 July 2013, claimed that they amounted to EUR 107,6 million.
UFEU-a.
However, in their submission of 7 August 2013, the Greek authorities finally clarified that the capital increases covered by measure 3 included a total capital increase of EUR 158,19 million, as identified in the decision of 6 March 2013.
Sva imovina povezana isključivo s civilnom proizvodnjom prenesena je civilnom HDS-u.
Out of the total capital increase of EUR 158,19 million, EUR 154,19 million were the result of capitalisation of debts that HDS had towards the State.
To je uključivalo posebno:
Those debts stemmed from the calling of guarantees, provided in the context of measure 1, because HDS failed to repay the loans.
sva zemljišta koja se upotrebljavaju za civilnu proizvodnju (uključujući postrojenja za proizvodnju, skladišta itd. na tim zemljištima);
The remaining EUR 4 million were provided as fresh capital.
sve strojeve, opremu, prijevozna sredstva itd. uključene isključivo u civilnu proizvodnju;
The general assembly of 25 October 2010 agreed that HDS' capital needed to be increased.
gotove proizvode i poluproizvode za civilnu upotrebu, odgovarajuće sirovine i potraživanja izvornog društva od klijenata koji su kupili civilne proizvode.
However, the precise amounts of different capital increases were decided by the general assembly in various meetings during 2011, at dates on which Greece committed the relevant funds.
Odlukom br. 22153/2014/2.10.2014. regija Atika odobrila je podjelu društva, prestanak izvornog društva i osnivanje dvaju novih društava.
According to the Greek authorities, the distribution of the capital increases in the context of measure 3 and their granting dates were as follows:
Ta je odluka upisana u Opći trgovački registar nakon čega su u njega upisana i dva društva sljednika i njihovi statusi.
Table 4
TRŽIŠNI UVJETI U POGLEDU DRŽAVNIH JAMSTAVA HDS-U (1.
Date of general assembly decision
Grčka tijela objasnila su da HDS nije pokušao osigurati bankovne zajmove bez državnih jamstava, ali da razlog za to nije bila nemogućnost dobivanja tih sredstava (uvodna izjava 36.).
Amount in EUR
Stoga se u pogledu 1. mjere u službenom istražnom postupku ne mogu otkriti važeće ponude kamatnih stopa za zajmove HDS-u od 2004. bez državnog jamstva ili ponude za to jamstvo koje pruža tržišni jamac.
Comments
Kako bi se dobila činjenična osnova za ocjenu je li državnim jamstvima za zajmove koji su dodijeljeni HDS-u tom društvu pružena prednost koju ne bi dobilo u tržišnim uvjetima te s obzirom na financijsko stanje HDS-a u razdoblju od 2004. do 2006. (tablica 1.), Komisija je ispitala pod kojim bi tržišnim uvjetima društva s ocjenom CCC+ (visokorizično društvo u teškoćama), D (društvo koje nije ispunilo obveze) ili SD (djelomično neispunjavanje obveza) mogla dobiti sredstva od financijskih tržišta.
4 May 2011
U tu je svrhu Komisija prikupila financijske podatke iz baze podataka S&P Capital IQ Platform i osobito kreditne marže na osnovi nastanka statusa neispunjavanja obveza na ugovore o razmjeni (CDS) te prinose obveznica u razdoblju od 2004. do 2006.
Capitalisation of debts stemming from the calling of guarantees
CDS je sporazum o financijskoj razmjeni kojim se prodavatelj CDS-a obvezuje na nadoknadu kupcu (obično vjerovniku referentnog zajma) u slučaju da dužnik ne ispunjava obveze u pogledu zajma.
19 October 2011
Drugim riječima, prodavatelj CDS-a osigurava kupca od neispunjenja obveza u pogledu nekog referentnog zajma.
16 December 2011
Taj je instrument važan kako bi se dobio pokazatelj premije za rizik/naknade za jamstvo koju bi subjekt u tržišnom gospodarstvu trebao da se osigura od rizika neispunjenja obveza iz zajma.
Payment in cash
Prikupljeni podaci pokazuju da su se kreditne marže na osnovi nastanka statusa neispunjavanja obveza na CDS-e za petogodišnja dospijeća financijski visokorizičnim društvima u razdoblju od 2004. do 2006. kretale od 4,4 % do 33,5 %.
The Greek authorities argued that the capital increase of EUR 154,19 million resulting from the capitalisation of debts stemming from called guarantees should not be considered ‘new’ State support to HDS, because it was, in the reasoning of the Commission in the decision of 6 March 2013, already considered State support in the context of measure 1.
Prinos obveznica iznos je povrata koji ulagač ostvari na obveznicu, a i dobar je pokazatelj ukupnih troškova pozajmljivanja (koji čine trošak zajma u kombinaciji s troškom svih povezanih jamstava) za društvo.
Split of HDS
Prikupljeni podaci pokazuju da su se u razdoblju od 2004. do 2006. stope kretale od 12,9 % do 43,2 % za obveznice s jednogodišnjim rokom dospijeća koje izdaju financijski visokorizična društva.
In the context of the regular review of its economic adjustment programme by the institutions representing the creditors of the country (European Commission, European Central Bank and the International Monetary Fund), in mid-2013 Greece undertook the commitment to adopt an irrevocable decision about the future of HDS by the end of August 2013.
OCJENA
On 27 August 2013, the Greek authorities submitted their proposal for the future of HDS.
Ovom se Odlukom u prvom redu nastoji riješiti pitanje primjene članka 346. stavka 1. točke (b) UFEU-a i zatim, u pogledu aktivnosti ili mjera koje nisu obuhvaćene iznimkom iz tog članka, pitanje postojanja državnih potpora u smislu članka 107. stavka 1.
According to that proposal, HDS would be divided into two parts, civil and military.
UFEU-a te naposljetku pitanje mogu li te potpore biti spojive s unutarnjim tržištem.
The civil part would be liquidated.
U članku 346. stavku 1. točki (b) UFEU-a navodi se: „svaka država članica može poduzeti one mjere koje smatra potrebnima za zaštitu osnovnih interesa svoje sigurnosti, koje su povezane s proizvodnjom ili trgovinom oružjem, streljivom i ratnom opremom; takve mjere ne smiju štetno utjecati na uvjete tržišnog natjecanja na unutarnjem tržištu u odnosu na proizvode čija namjena nije specifično vojna”.
The military part would be restructured and its production would be limited to products that are necessary for the essential security interests of the country.
Odluka Vijeća iz 1958. o sastavljanju popisa proizvoda na koje se primjenjuje članak 346. stavak 1. točka (b) UFEU-a (dalje u tekstu: „Odluka Vijeća iz 1958.”) uključuje, među ostalim, prijenosno i automatsko vatreno oružje, artiljeriju, streljivo za to oružje, bombe, torpeda, rakete, barut i eksplozive (točke 1., 2., 3., 4., 8. i 13. popisa).
Following discussions with the Commission departments and those of the other institutions, the Greek authorities undertook, in a letter of 16 December 2013, the commitment to carry out the split and submitted an action plan.
Iz toga proizlazi da se za potrebe ovog predmeta članci 107. i 108.
By Board Decision of 26 February 2014, the process of splitting the company began and 28 February 2014 was set as the date for restructuring (date of the ‘restructuring balance sheet’).
UFEU-a ne primjenjuju na mjere povezane s proizvodima iz Odluke Vijeća iz 1958. pod uvjetom da se te mjere smatraju nužnima za zaštitu osnovnih sigurnosnih interesa predmetne države članice.
By Board decision of 21 May 2014 it was established that the successor public limited company which would in the future exclusively engage in the production of and trade in arms, munitions and war material necessary for the essential security interests of Greece will be called Hellenic Defence Systems Industrial Commercial Ltd (‘HDS military’).
U skladu sa sudskom praksom država članica koja se želi osloniti na iznimku iz članka 346. stavka 1. točke (b) UFEU-a mora dostaviti dokaze da mjere ne prelaze ono što je potrebno za njezine osnovne sigurnosne interese.