natgillin/translations-raw huggingface dataset:
Even if this were not the case, the Commission considers that any aid element would be extremely small and would not in any way alter its overall assessment of the measures in support of Alstom.
Tudi če v tem primeru ne bi šlo za to, Komisija meni, da bi bil kakršen koli element državne pomoči nepomemben in ne bi nikakor vplival na skupno oceno podpornih ukrepov za Alstom.
As regards the other measures (measures 8, 9 and 10), a distinction must be drawn between measure 8 and measures 9 and 10.
V zvezi z drugimi ukrepi (ukrepi 8, 9 in 10) je treba razlikovati med ukrepom 8 in ukrepoma 9 in 10.
With regard to measure 8, ‘Bahrain’, the decision to initiate the procedure referred to guarantees for the construction of an electric power plant in Bahrain.
V zvezi z ukrepom 8 „Bahrajn“ se sklep za začetek postopka navezuje na garancije za gradnjo elektrarne v Bahrajnu.
France denies having provided any guarantee whatsoever in connection with this purely commercial transaction.
Francija zanika, da naj bi dodelila kakršno koli garancijo v zvezi s tem poslom, ki je povsem komercialne narave.
The Commission has examined the letter sent by France to the Bahrain authorities: it considers that the extremely general nature of the letter meant that it did not have any binding character that could have conferred an advantage on Alstom.
Komisija je pregledala pismo, ki ga je Francija poslala bahrajnskim oblastem: ocenjuje, da izjemno splošna narava tega pisma pomeni, da ni bilo zavezujoče v smislu, da bi Alstom zaradi tega imel kakršno koli prednost.
Measure 8 does not therefore constitute aid within the meaning of Article 87(1) of the Treaty.
Ukrep 8 torej ni pomoč v smislu člena 87 (1) Pogodbe.
Even if it did, the Commission considers that any aid element, which would be extremely difficult to quantify, would not in any way alter its overall assessment of the measures in support of Alstom.
Tudi če v bi šlo za zgoraj omenjeno pomoč, Komisija meni, da bi bilo kakršen koli element državne pomoči težko določiti in ne bi nikakor vplival na skupno oceno podpornih ukrepov za Alstom.
As regards measure 9, ‘acquisition by GdF of an LNG carrier’, and measure 10, ‘acquisition by SeaFrance of a new ship’, France indicates firstly that the orders were won by Alstom on its own merits and without any assistance from the state.
V zvezi z ukrepom 9 „nakup tankerja za utekočinjen zemeljski plin s strani GdF“ in ukrepom 10, „nakup nove ladje s strani SeaFrance“ Francija navaja da je naročila dobila Alstom na lastne ponudbe in brez pomoči države.
However, France acknowledges having provided [… ‘to’] GdF and [… ‘to’] SNCF, the parent company of SeaFrance, special back-up conditions for the relevant purchases.
Vendar je Francija priznala, da je […„za“] podjetju GdF in […„za“] SNCF matičnemu podjetju podjetja SeaFrance dodelila „podporne pogoje“ za zadevne nakupe.
Having analysed the letters referred to in recital 89, the Commission considers that the special back-up conditions must be deemed to be equivalent to state guarantees.
Po analizi pisem, omenjenih v uvodni izjavi 89, Komisija meni, da je treba omenjene „podporne ukrepe“ obravnavati kot garancije države.
In the case of GdF (measure 9), France states that it undertakes to ‘[…] [26]’ if the transaction could not be carried out successfully.
V primeru GdF (ukrep 9) Francija navaja, da se je obvezala za „[… [26]]“ če posla ne bo mogoče uspešno izpeljati.
In the case of SeaFrance (measure 10), France states that it ‘[…] [27]’ that would be required to enable SeaFrance to carry out the transaction successfully.
V primeru SeaFrance (ukrep 10) Francija navaja, da „[… [27]]“ kar je nujno potrebno, da Seafrance uspešno izpelje posel.
It is clear from these ‘comfort letters’ that the state conferred a key advantage on Alstom by granting its customers a guarantee of compensation in connection with Alstom's carrying-out of the orders for the ships.
Iz teh „upravnih pisem“ je jasno, da je država Alstomu omogočila odločilno prednost, in sicer tako, da je strankam odobrila garancijo za kompenzacijo v zvezi z Alstomovo izvedbo naročil za ladje.
This advantage was without any doubt a major factor for Alstom at a time when its financial situation was such that a prudent operator would certainly have been reluctant to order ships from it.
Ta prednost je nedvomno glavni dejavnik za Alstom, v času, ko je bil njegov finančni položaj tak, da bi pazljivi nosilec dejavnosti zagotovo dvakrat premislil, ali bo pri tem podjetju naročil ladje.
It is also revealing that these ‘comfort letters’ replaced the contract bonds usually used for this type of transaction, which in other cases required state backing (see former and new measure 3), as France subsequently informed the Commission.
Zato je jasno, da so ta „upravna pisma“ nadomestila garancije, ki se ponavadi uporabljajo za takšne posle in za katere bi bila v drugih primerih potrebna državna podpora (glej prejšnji in novi ukrep 3), kot je Francija pozneje obvestila Komisijo.
Consequently, these measures must be regarded as being equivalent to guarantees in so far as they have a similar effect to that of the syndicated bonding facility.
Posledično je treba te ukrepe obravnavati kot enakovredne garancijam, seveda če imajo enak vpliv kot sindicirana garancijska shema.
They must be regarded as forming an integral part of the entire package of aid which France provided for Alstom in order to support its restructuring efforts under the plan being implemented since March 2003.
Treba jih je obravnavati kot del pomoči, ki jih je Francija namenila Alstomu kot podporo pri prizadevanjih za prestrukturiranje, ki temeljijo na načrtu, ki se izvaja od marca 2003.
These guarantees were provided for Alstom in June 2003, at a time when the firm's difficulties were well-known.
Te garancije so bila Alstomu dodeljene junija 2003, v času, ko so bile težave podjetja že dobro znane.
Consequently, the guarantees must be regarded as constituting the first aid measures in support of Alstom.
V teh pogojih je treba zadevne garancije obravnavati kot prve ukrepe pomoči v podporo Alstomu.
Lastly, the Commission maintains the analysis which it set out in its provisional assessment as regards the banks' placement guarantee for the first capital increase and the bank's issuing of the ORA and therefore confirms that the relevant elements do not contain any state aid.
Komisija končno vztraja pri analizi, ki jo je že predstavila v okviru začasnega ocenjevanja v zvezi z garancijami bank pri prvem povečanju kapitala in izdali ORA s strani bank in tako potrjuje, da zadevni elementi ne predstavljajo državne pomoči.
Amount of aid
Znesek pomoči
In its reply to the initiation and extension of the formal investigation procedure, France stated that the amount of aid granted by the state under measures 3 and 4 was less than the amount of the facilities covered.
V odgovoru na začetek in podaljšanje uradnega preiskovalnega postopka, je Francija navedla, da so zneski, ki jih je odobrila država v okviru ukrepov 3 in 4 nižji od zneskov za zajeta sredstva.
France accepts that the rest of the measures can be considered to be aid that can be valued at up to 100 % of its nominal value.
Francija je sprejela, da se ostale ukrepe obravnava kot pomoč do 100 % njihove nominalne vrednosti.
It should be noted that France’s comments relate only to the aid package before it was adjusted in May 2004.
Opozoriti je treba, da se pripombe Francije nanašajo le na paket pomoči pred spremembami maja 2004.
France does not therefore comment on the quantification of the aid included in the guarantee covering the new bonding facility that replaces the counter-guarantee (measure 3) or on that included in the new proposed capital increase (measure 6).
Francija ne komentira količinske opredelitve pomoči, vključene v novo garancijsko shemo, ki bo nadomestila indirektne garancije (ukrep 3) in pomoči, vključene v novo povečanje kapitala (ukrep 6).
Aid granted by the state, notably where it takes the form of underwriting of company stock (equity or quasi-equity), short or long-term loans or guarantees, must be quantified ex ante, i.e. at the time when it is granted.
Pomoč, ki jo je dodelila država, zlasti če je v obliki vpisa vrednostnih papirjev (lastna sredstva ali neprava lastna sredstva), kratko ali dolgoročnih posojil ali garancij, mora biti predhodno količinsko opredeljena, to pomeni takrat, ko je odobrena.
This is the only way of taking the risk assumed by the state into account, whereas ex post quantification is based on the materialisation of the risk.
Le tak način obravnave omogoča upoštevanje tveganja države, količinska opredelitev za nazaj pa temelji na materializaciji tveganja.
It is on the basis of these principles that quantification of the aid for Alstom must be established.
Elementi pomoči Alstomu morajo biti potrjeni na podlagi teh načel količinske opredelitve.
The risk was so great (in the event of default, the state would have had no hope of obtaining any repayment) that the Commission had regarded the amount of aid as being equal to the nominal amount of the securities.
Tveganje se je povečalo do te stopnje, da je Komisija obravnavala znesek pomoči kot enak nominalni vrednosti vrednostnih papirjev (v primeru neizpolnjevanja obveznosti od države ni upravičeno pričakovati kakršnega koli nadomestila).
France accepted this assessment.
Francija je tako oceno sprejela.
This assessment is not fundamentally altered by the conversion of the securities into capital.
Zaradi preoblikovanja vrednostnih papirjev v kapital ta ni bistveno spremenjena.
The short-term liquidity (measure 2) was also made available at a time when no other bank was ready to do so.
Kratkoročna likvidnost (ukrep 2) je bila dana na razpolago v času, ko nobena druga banka ni bila pripravljena storiti tega.
In the case of the EUR 300 million which the state undertook to renew up to February 2005 and which are therefore equivalent to a medium-term loan, the aid may amount to up 100 % of the nominal amount.
V primeru 300 milijonov EUR, za katere se je država obvezala, da bo podaljšala rok do februarja 2005, in ki ustrezajo srednjeročnemu posojilu, se lahko pomoč poveča do 100 % nominalne vrednosti.
By contrast, EUR 900 million in Treasury notes were lent for the short term (and indeed repaid rapidly).
Nasprotno je 900 milijonov EUR iz državne blagajne kratkoročno posojilo (hitro poplačano).
Of that amount, EUR 800 million were intended to cover financing requirements pending the long-term financing granted by the state (TSDDRA, TSSD and PSDD), the full amount of which the Commission considers to be aid.
Od tega je 800 milijonov namenjeno za pokrivanje finančnih potreb v pričakovanju dolgoročnega financiranja, ki ga odobri država, (TSDDRA, TSSD in PSDD) za ta znesek pa Komisija meni, da je v celoti državna pomoč.
Consequently, it can reasonably be considered that this aid was given by the state as from the time of the subscription of the EUR 800 million in Treasury notes.
Posledično je mogoče razumno sklepati, da je bila takšna pomoč dodeljena s strani države od vpisa 800 milijonov EUR iz državne blagajne.
What is involved, therefore, is the same amount of aid which has simply changed form and which must be counted only once.
Torej gre za isti znesek pomoči, ki je preprosto spremenil obliko in ki ga je treba upoštevati le enkrat.
In Table 7, the Commission therefore applies a weighting of 0 % to the EUR 800 million in short-term loans and a weighting of 100 % to the long-term financing used for their repayment.
V skupni tabeli 7 Komisija uporablja ponderiranje 0 % za 800 milijonov EUR kratkoročnega posojila in 100 % za dolgoročno financiranje, ki je namenjeno za poplačilo prvega zneska.
Finally, the aid included in the balance of EUR 100 million remains to be quantified.
Končno je treba količinsko opredeliti pomoč, vključeno v saldo 100 milijonov.
Compared to a medium and long-term loan, account must be taken of the lower risk of non-repayment for the creditor given the short duration and the fact that the loan was intended to establish longer-term financing solutions.
V primerjavi s kratkoročnim in dolgoročnim posojilom je treba upoštevati nižje tveganje neplačevanja za upnika, ob upoštevanju kratkega obdobja in dejstva, da je posojilo namenjeno za vzpostavitev dolgoročnega financiranja.
The amount of aid is therefore only a fraction of the nominal amount thus lent.
Višina pomoči je torej le del tako posojene nominalne vrednosti,
With regard to the syndicated bonding facility (measure 3), as described in Part IV, France only communicated calculations relating to the former counter-guarantee of EUR 2,275 billion. However, that counter-guarantee was abolished and replaced by a new guarantee of EUR 1,25 billion. As already explained, France bases its calculations on an estimate of the technical risk of 5 %, calculated on the basis of historical data that allow the amount of aid for the abolished counter-guarantee to be put at between EUR 0 and EUR 43 million.
V zvezi s sindicirano garancijsko shemo (ukrep 3), kot je opisana v delu IV, je Francija posredovala le izračune, povezane s starimi indirektnimi garancijami v znesku 2,275 milijard EUR. Torej je zadevna indirektna garancija ukinjena in se nadomesti z novo garancijo v višini 1,25 milijard EUR. Vendar je treba opredeliti, kot je bilo že navedeno, da izračuni Francije temeljijo na oceni tehničnega tveganja za 5 %, izračunano na podlagi zgodovinskih podatkov, s katerimi je mogoče oceniti znesek pomoči za ukinjene indirektne garancije med 0 in 43 milijoni EUR.
As pointed out in recital 133, the existence and the amount of aid must be determined ex ante, i.e. at the time when it was granted and not, as France claims, after the bonding facility produced its effects.
Kot je bilo navedeno v uvodni izjavi 133, mora biti obstoj in znesek pomoči določen vnaprej, to pomeni takrat, ko je pomoč odobrena, ne pa, kot trdi Francija, ocenjena na podlagi rezultatov sindicirane garancijske sheme.
The amount of aid cannot be estimated in relation to the risk for contracts effectively covered a posteriori.
Višine pomoči se ne sme ocenjevati na podlagi tveganj iz dejansko pokritih pogodb.
At the time when the guarantee was granted, France included no limit on the use of the facility.
V trenutku odobritve garancije Francija ni vključila nobenih omejitev za uporabo sheme.
The counter-guarantee could thus cover any contract in any of Alstom’s spheres of activity, provided that the contract did not exceed a duration of seven years.
Indirektna garancija lahko pokriva kakršno koli pogodbo na katerem koli področju delovanja Alstoma, če ne preseže trajanja sedmih let.
Ex ante, the aid contained in the counter-guarantee could amount to up to 100 % of the amount covered, in line with the Commission notice on the application of Article 87 and 88 of the EC Treaty to state aid in the form of guarantees [28] (hereinafter referred to as the ‘notice on state aid in the form of guarantees’), point 3.2 of which states that ‘where, at the time the loan is granted, there is a strong probability that the borrower will default, e.g. because he is in financial difficulty, the value of the guarantee may be as high as the amount effectively covered by that guarantee’.
Predhodno: pomoč, zajeta v indirektne garancije, lahko doseže do 100 % pokritega zneska, v skladu s sporočilom Komisije o izvajanju členov 87 in 88 Pogodbe ES o državni pomoči v obliki jamstva [28] (v nadaljevanju „sporočilo o državni pomoči v obliki jamstva“) točko 3.2., v kateri je navedeno, da „ko je posojilo odobreno, obstaja velika verjetnost, da posojilojemalec ne bo mogel izpolnjevati obveznosti, npr. zaradi finančnih težav, vrednost garancije pa je lahko tako visoka, kot je dejanski znesek, ki ga pokriva ta garancija“.
Such risk could not be taken on by any private operator.
Takega tveganja more prevzeti noben zasebni vlagatelj.
In its reply to the initiation and extension of the formal investigation procedure, France stated that ‘the banks no longer being able to provide this bonding mechanism on their own in view of the commitments already entered into, the state provided support for this flow of bonds that is essential to Alstom’s proper operation’.
V odgovoru na začetek in podaljšanje uradnega preiskovalnega postopka je Francija navedla, da „banke ne morejo več same zagotavljati mehanizma garancij glede na že prevzete obveznost, država pa je podpirala to vrsto garancij, ki je nujna za dobro poslovanje Alstoma“.
France thus acknowledges that, without the state counter-guarantee, Alstom would not have had access to a new bonding facility.
Francija prav tako priznava, da brez indirektnih garancij Alstom ne bi imel dostopa do nove garancijske sheme.
Consequently, the Commission notes that the counter-guarantee operated de facto as a guarantee: it could be called immediately by the banks in the event that one of the projects which they had guaranteed could not be carried out or completed in time by Alstom.
Pod temi pogoji Komisija ugotavlja, da zadevne indirektne garancije delujejo kot garancija: je neposredno izterljiva s strani bank, pod pogojem, da Alstom v določenem času ne more izpeljati ali dokončati enega ali več projektov, zajetih v garancijo.
Consequently, the Commission considers that the potential risk for the state amounted to 100 % of the amount of the bonding facility covered by the counter-guarantee, i.e. EUR 2,275 billion. However, following the changes announced in May 2004, the state counter-guarantee covering the bonding facility will be abolished.
Posledično Komisija ocenjuje, da se je potencialno tveganje države povišalo na 100 % zneska garancijske sheme, ki je pokrita z indirektno garancijo, to pomeni 2,275 milijarde EUR. Vendar bo po spremembah maja 2004 indirektna garancija države iz garancijske sheme ukinjena.
It is therefore necessary initially to quantify the amount of aid resulting from the state’s granting of the counter-guarantee during a period of some twelve months.
Zato je treba na začetku količinsko opredeliti znesek pomoči, ki izhaja iz zneska, ki ga je z indirektno garancijo za zadnjih dvanajst mesecev dodelila država.
On the basis of the information available, and in line with customary calculation methods, the aid corresponding to the counter-guarantee granted by the state during that limited period of time may be estimated at a maximum of EUR 411 million. This calculation starts from the assumption that the contracts covered are for three years (industry average), that the risk of the guarantee being called is spread evenly throughout the three-year period, that the bonds are issued in a linear fashion over 12 months (September 2003 to August 2004) for a total amount of EUR 3,5 billion and that, as from September 2004, the state counter-guarantee covering the bonds issued is abolished.
Na podlagi razpoložljivih podatkov in na način, skladen z običajnimi metodami skladno z običajnimi računskimi metodami, je pomoč, ki ustreza indirektni garanciji, ki jo v tem omejenem obdobju dodeli država, ocenjena na največ 411 milijonov EUR. Ta izračun temelji na hipotezi, da pogodbe trajajo tri leta (povprečje v industriji), da je tveganje garancije enakomerno porazdeljeno čez obdobje treh let, da so vrednostni papirji izdani linearno v 12 mesecih (september 2003 – avgust 2004) v znesku 3,5 milijarde in da se od septembra 2004 indirektna garancija države za izdane garancije ukine.
The amount of aid is considered to be 100 % of the counter-guaranteed amount multiplied by the duration of the guarantee (number of months during which the guarantee applied over three years, i.e. 36 months).
Znesek pomoči je 100 % zneska indirektne garancije pomnoženo s trajanjem garancije (število mesecev, v katerih garancija velja za tri leta, to je 36 mesecev).
It will be recalled that the counter-guarantee was 65 % per bond. [29].
Indirektna garancija je bila 65 % za garancijo [29].
As stated in recital 52, the abolished counter-guarantee will be replaced by a new second-rank guarantee amounting to EUR 1,25 billion, which will be incorporated into the new bonding facility, representing a maximum outstanding amount of EUR 8 billion (measure 3).
Kot je bilo navedeno v uvodni izjavi 52, bo indirektna garancija ukinjena in nadomeščena z novo garancijo drugega ranga, v znesku 1,25 milijard EUR, in bo vgrajena v novo garancijsko shemo, ki znaša 8 milijard EUR (ukrep 3).
Under this new arrangement, the potential risk for the state will be EUR 1,25 billion, as from the time that the EUR 700 million collateral becomes insufficient to cover potential losses.
V novem načrtu je morebitno tveganje države ocenjeno na 1,25 milijard EUR, 700 milijonov EUR sredstev iz prodaje pa ne bo dovolj za pokritje morebitne izgube.
The new counter-guarantee must be treated as aid of up to a maximum of 100 % of its amount.
Nova indirektna garancija mora biti obravnavana kot pomoč vse do 100 % zneska.
This adjustment consequently means a EUR 1 billion reduction in the state’s potential risk. As already indicated in part III, the reduction in the amount of the state’s exposure was a key factor in deciding not to extend the formal investigation procedure once again.
Tako prilagajanje posledično pomeni zmanjšanje morebitnega tveganja za državo, in sicer za 1 milijardo EUR. Kot je že omenjeno v delu III, je zmanjšanje zneska izpostavljenosti države odločujoč dejavnik pri odločitvi, da se uradnega preiskovalnega postopka več ne podaljša.
Furthermore, the Commission considers that the amount of aid would not be substantially affected by subtracting the costs borne by Alstom in order to benefit from the guarantee.
Poleg tega Komisija ocenjuje, da odtegnjeni stroški v breme Alstoma, ki bo uveljavil garancijo, ne bodo vplivali na znesek pomoči.
In the light of this assessment and the fact that the data provided by France did not contain figures allowing precise calculation of the amounts paid by Alstom to the state, the maximum amount of aid included in the guarantees has not been reduced.
Ob upoštevanju te ocene in dejstva, da podatki, ki jih je predložila Francija, ne vsebujejo številk, ki bi omogočale natančen izračun zneskov, ki jih je državi plačal Alstom, najvišji znesek pomoči, zajete v garancije, ni bil znižan.
As regards the guarantee given by the state to the CFDI for providing Alstom with the PSDD in measure 4, the same reasoning applies.
Enaka razlaga velja v zvezi z garancijo, ki jo država podeli CFDI, s katero postanejo PSDD na voljo Alstomu, (ukrep 4).
Without the state guarantee amounting to 100 % of the PSDD, the CFDI would never have granted the loan.
Brez garancije države v višini 100 % PSDD, CFDI ne bi nikoli odobril posojila.
Consequently, in line with the notice on state aid in the form of guarantees, the Commission estimates that 100 % of the guarantee may constitute state aid.
Posledično in v skladu s sporočilom o državni pomoči v obliki s garancij Komisija ocenjuje, da je 100 % garancije državna pomoč.
This analysis is borne out by the fact that France announced that Alstom’s debts to the state would be converted into capital during the summer of 2004, including the PSDD.
To analizo še podkrepi dejstvo, da je Francija objavila, da bodo dolgovi, ki jih ima Alstom do države, poleti 2004 preoblikovani v kapital, v vključno s PSDD.
The conversion of the debt into capital shows that the PSDD is financed through state resources and attributable to the state and that it must be regarded as aid that may amount to up to 100 % of the relevant amount.
Preoblikovanje dolga v kapital kaže, da čeprav so PSDD financirani iz državnih sredstev, so v breme državi, jih je treba obravnavati kot državno pomoč vse do 100 % zadevnega zneska.
In view of the considerations set out in this part, the Commission considers that the state's participation in the new capital increase (measure 6) cannot be considered to represent the conduct of a normal market-economy investor, but constitutes aid.
Zaradi dejstev, obravnavanih v tem delu, Komisija meni, da sodelovanje države pri novem povečanju kapital (ukrep 6) ne more biti obravnavano kot normalno obnašanje vlagateljev v tržnem gospodarstvu, ampak kot pomoč.
The aid included in such participation in the capital may amount to up to 100 % of the amount underwritten.
Pomoč, vključena v takšno sodelovanje pri kapitalu se lahko poveča vse do 100 % vpisanega zneska.