natgillin/translations-raw huggingface dataset:
Thus, the difference between the agreed remuneration of 0,5 % per annum and the appropriate remuneration of 6,76 % per annum (for the portion of the LTS promotion-related assets which NordLB can use for its competitive business) and 0,15 % per annum (for the portion of the assets that can be likened to a bank guarantee) constitutes state aid within the meaning of Article 87(1) of the EC Treaty.
Razlika med dogovorjenim nadomestilom 0,5 % letno in primernim nadomestilom 6,76 % letno (za tisti del sredstev LTS za pospeševanje, ki jih NordLB ne more uporabljati za konkurenčne dejavnosti) in 0,15 % letno (za tisti del sredstev, ki je primerljiv z bančnim jamstvom) torej predstavlja pomoč v smislu člena 87(1) Pogodbe ES.
The aid element for the period from the granting of the aid up to the end of 2003 amounts to DEM 923,82 million.
Element pomoči za obdobje od dodelitve pomoči do konca leta 2003 znaša v nemških markah 923,82 milijona DEM.
Converted into euros this comes to EUR 472,34 million.
Ta znesek se preračuna v eure in znaša 472,34 milijona EUR. Sredstva LTS so NordLB še vedno na razpolago.
As the LTS assets are still at NordLB’s disposal, the amount of the aid element is continually increasing.
Element pomoči se zato nenehno povečuje.
It can therefore be stated that the transfer of the LTS promotion-related assets is caught by all the criteria laid down in Article 87(1) of the EC Treaty and thus involves state aid within the meaning of that Article.
Na podlagi navedenega se lahko ugotovi, da so izpolnjeni vsi kriteriji člena 87(1) Pogodbe ES in prenos sredstev LTS za pospeševanje zato vključuje državno pomoč v smislu navedenega člena.
On this basis, an assessment must be made as to whether the aid can be considered compatible with the common market.
Na podlagi tega se mora oceniti, ali se pomoč lahko šteje za skladno s skupnim trgom.
However, it must be noted that Germany invoked only the exemption laid down in Article 86(2) of the EC Treaty in relation to any aid elements present in the transfer of the promotion-related assets.
Vendar pa je treba navesti, da je Nemčija v zvezi z morebitnimi elementi pomoči v okviru prenosa sredstev za pospeševanje uveljavljala le posebno določbo iz člena 86(2) Pogodbe ES.
Given that the aid has no regional objective — it is designed neither to promote the economic development of areas where the standard of living is abnormally low or where there is serious underemployment nor to facilitate the development of certain economic areas — neither Article 87(3)(a) nor (c) of the EC Treaty, as regards the latter's regional aspects, is applicable.
Ker pomoč nima regionalnega cilja – ni namenjena niti za pospeševanje gospodarskega razvoja območij z izjemno nizko življenjsko ravnijo ali z znatno podzaposlenostjo niti za pospeševanje razvoja določenih gospodarskih območij – se člen 87(3)(a) in regionalni vidiki iz člena 87(3)(c) Pogodbe ES ne uporabljajo.
The aid is not aimed either at promoting culture or heritage conservation.
Prav tako pa cilja pomoči nista pospeševanje kulture in ohranjanja kulturne dediščine.
Since the economic survival of NordLB was not at stake when the measure took place, there is no need to consider whether the collapse of a single large credit institution like NordLB could lead to a general banking crisis in Germany, which might possibly justify aid to remedy a serious disturbance in the German economy under Article 87(3)(b) of the EC Treaty.
Ker gospodarski obstoj NordLB v času ukrepa ni bil ogrožen, ni potrebno preučiti ali bi propad ene same velike kreditne institucije, kot je NordLB, lahko v Nemčiji privedel do splošne krize v bančnem sektorju, kar bi morda v skladu s členom 87(3)(b) Pogodbe ES upravičilo pomoč za odpravljanje resne motnje v nemškem gospodarstvu.
Under Article 87(3)(c) of the EC Treaty, aid may be found compatible with the common market if it facilitates the development of certain economic activities.
V skladu s členom 87(3)(c) Pogodbe ES se lahko pomoč spozna za skladno s skupnim trgom, če pospešuje razvoj določenih gospodarskih dejavnosti.
NordLB is not described as an undertaking in difficulty whose viability must be restored with the support of state aid.
NordLB ni predstavljena kot podjetje v težavah, čigar vitalnost bi se morala povrniti z državno pomočjo.
Article 86(2) of the EC Treaty, which allows exemptions from the Treaty's state aid rules under certain conditions, is also applicable, in principle, to the financial services sector.
Člen 86(2) Pogodbe ES, ki pod določenimi pogoji dopušča odstopanja od predpisov o državni pomoči iz Pogodbe, se načeloma uporablja tudi za sektor finančnih storitev.
This was confirmed by the Commission in its report on services of general economic interest in the banking sector.
To je Komisija potrdila v svojem poročilu o „storitvah skupnega gospodarskega interesa v bančnem sektorju“.
Germany submits that, if the transfer of the LTS promotion-related assets did constitute favourable treatment for NordLB, it was no more than compensation for NordLB for the costs it incurred for carrying out its public mandate.
Nemčija navaja, da je šlo v primeru, da je NordLB na koncu pridobila s prenosom sredstev LTS za pospeševanje, le za izravnavo stroškov NordLB, nastalih pri opravljanju javnih nalog.
It argues that NordLB is not only the Land bank but also a savings bank in the Braunschweig area.
NordLB naj ne bi bila le deželna banka, temveč v območju Braunschweiga tudi hranilnica.
So it performs not only the traditional public role of a Land bank, with the attendant costs, but also the function of a savings bank.
Ne opravlja torej samo običajnih javnih nalog deželnih bank s spremljajočimi stroški, temveč ima tudi funkcijo hranilnice.
However, Germany has not quantified the costs to NordLB of the public tasks in question.
Toda Nemčija ni količinsko opredelila stroškov NordLB za zadevne javne naloge.
On those grounds alone the Commission cannot allow an exemption from the application of Article 87(1) of the EC Treaty on the basis of Article 86(2).
Že zaradi tega Komisija ne more dopustiti odstopanja od uporabe člena 87(1) Pogodbe ES na podlagi člena 86(2) Pogodbe.
Moreover, it is clear that the transfer was made in order to enable NordLB to comply with the new own funds requirements, not as compensation for a public mandate carried out by NordLB.
Poleg tega je jasno, da se je prenos opravil z namenom omogočitve NordLB, da bi izpolnjevala nove zahteve glede lastnega kapitala. In ne kot izravnava za javne naloge NordLB.
Since no exemption from the principle of the ban on state aid pursuant to Article 87(1) of the EC Treaty applies, the aid in question cannot be found compatible with the common market.
Ker se odstopanja od načela prepovedi državne pomoči v skladu s členom 87(1) Pogodbe ES ne uporabljajo, se zadevna pomoč ne more šteti za skladno s skupnim trgom.
NO EXISTING AID
NI OBSTOJEČA POMOČ
Contrary to the arguments put forward by Germany, the transfer of the LTS promotion-related assets cannot be regarded as being covered by the existing state aid scheme for Anstaltslast and Gewährträgerhaftung.
V nasprotju s trditvami Nemčije se prenos sredstev LTS za pospeševanje ne more obravnavati kot del obstoječih programov pomoči Anstaltslast in Gewährträgerhaftung.
Gewährträgerhaftung is a default guarantee offered to creditors in the event that the bank's assets are not sufficient to satisfy their claims, and this is not the case here.
Gewährträgerhaftung je jamstvo za upnike v primeru, da sredstva banke ne zadostujejo za izpolnjevanje njihovih zahtev, in to v tem primeru ne velja.
The capital injection is not intended to satisfy NordLB’s creditors and the bank's assets have not been exhausted.
Vloga kapitala ni namenjena za zadovoljevanje upnikov NordLB in sredstva banke niso bila izčrpana.
Anstaltslast requires the guarantors (the Land of Schleswig-Holstein and NSGV) to provide NordLB with the resources it needs to function properly for as long as the Land decides to maintain it in existence.
Anstaltslast zavezuje garante (deželo Spodnja Saška in NSGV), da NordLB zagotavljajo sredstva, ki jih potrebuje za pravilno delovanje, dokler se Spodnja Saška ne odloči za prenehanje njenega obstoja.
However, at the time of the capital injection, NordLB was far from being in a situation where it was no longer able to operate properly.
Toda NordLB v času vloge kapitala še zdaleč ni bila v položaju, ki ne bi več omogočal pravilnega delovanja.
The capital injection was not needed in order to keep NordLB in operation.
Vloga kapitala torej ni bila potrebna za ohranjanje pravilnega delovanja NordLB.
Rather, it was made in order to enable the Landesbank to increase its capital in the light of the new capital requirements under the Solvency Directive so as to avoid an otherwise necessary reduction in its business volume and to enable it to expand in future.
Vloga kapitala se je verjetneje opravila v luči novih zahtev glede lastnega kapitala iz Direktive o solventnosti, da bi se deželna banka izognila sicer potrebnemu zmanjšanju poslovnih dejavnosti in bi se ji omogočilo širjenje.
This conscious economic calculation by the Land as joint owner also enabled NordLB to seize future opportunities in its competitive business.
Ta zavestni ekonomski izračun dežele Spodnje Saške kot solastnice je NordLB omogočil, da tudi v prihodnosti izkorišča tržne priložnosti na področju konkurenčnih dejavnosti.
The ‘necessity requirement’ for Anstaltslast does not apply to such a normal economic decision by the Land.
„Zasilni predpis“ programa pomoči Anstaltslast ne velja za tako običajno ekonomsko odločitev Spodnje Saške.
In the absence of another existing applicable state aid scheme pursuant to Articles 87(1) and 88(1) of the EC Treaty, the capital injection must be classed as new aid within the meaning of Articles 87(1) and 88(3) of the EC Treaty.
Ob odsotnosti drugega uporabnega obstoječega programa pomoči v skladu s členoma 87(1) in 88(1) Pogodbe ES se mora vloga kapitala označiti kot nova pomoč v smislu členov 87(1) in 88(3) Pogodbe.
The Commission finds that Germany has unlawfully implemented the new aid in question in breach of Article 88(3) of the EC Treaty.
Komisija ugotavlja, da je Nemčija nezakonito dodelila novo pomoč, ki krši člen 88(3) 3 Pogodbe ES.
The aid cannot be found compatible with the common market either under Article 87(2) or (3) or under any other provision of the Treaty.
Pomoč se niti na podlagi člena 87(2) ali (3) Pogodbe ES niti na podlagi katere koli druge določbe Pogodbe ne more obravnavati kot združljiva s skupnim trgom.
It is therefore declared incompatible with the common market and must be discontinued and the aid element of the measure illegally put into effect must be recovered by Germany,
V skladu s tem se spozna za nezdružljivo s skupnim trgom in se mora ukiniti, element pomoči nezakonitega ukrepa pa mora Nemčija zahtevati nazaj –
The difference between the appropriate remuneration of 6,76 % per annum (after corporation tax and before investor tax) and the remuneration of 0,5 % per annum (after corporation tax and before investor tax) agreed by Norddeutsche Landesbank — Girozentrale and the Land of Lower Saxony for the part of the transferred capital which Norddeutsche Landesbank — Girozentrale was able to use to underpin its competitive business as of 1 January 1992 constitutes aid which is incompatible with the common market.
Razlika med ustreznim nadomestilom v višini 6,76 % letno (po davku od dobička in pred davkom od izplačanega dobička) in nadomestilom v višini 0,5 % letno (po davku od dobička in pred davkom od izplačanega dobička), za katerega sta se dogovorili Norddeutsche Landesbank – Girozentrale in dežela Spodnja Saška, za tisti del prenesenega kapitala, ki ga je Norddeutsche Landesbank – Girozentrale lahko od 1. januarja 1992 uporabljala za kritje konkurenčnih dejavnosti, predstavlja pomoč, ki ni skladna s skupnim trgom.
The waiver of an appropriate remuneration amounting to 0,15 % per annum (after corporation tax and before investor tax) for the part of the capital transferred to Norddeutsche Landesbank — Girozentrale which could be used as a guarantee as from 1 January 1992 constitutes aid which is incompatible with the common market.
Odpoved ustreznemu nadomestilu v višini 0,15 % letno (po davku od dobička in pred davkom od izplačanega dobička) za tisti del kapitala, prenesenega na Norddeutsche Landesbank – Girozentrale, ki ga je ta lahko po 1. januarju 1992 uporabljala kot jamstvo, predstavlja pomoč, ki ni združljiva s skupnim trgom.
The amounts of aid referred to in paragraphs 1 and 2 total EUR 472,34 million for the period from 1 January 1992 to 31 December 2003 taken for the calculation.
Znesek pomoči, navedenih v odstavkih 1 in 2, znaša za obdobje izračuna med 1. januarjem 1992 in 31. decembrom 2003472,34 milijona EUR.
Germany shall discontinue the aid referred to in Article 1(1) and (2) by not later than 31 December 2004.
Nemčija ukine pomoči, navedeni v členu 1(1) in (2), najkasneje do 31. decembra 2004.
Germany shall take all necessary measures to recover from the beneficiary the aid referred to in Article 1(1) and (2) and unlawfully made available.
Nemčija sprejme vse potrebne ukrepe, da prejemnica vrne pomoči, navedeni v členu 1(1) in (2) in dani na razpolago nezakonito.
The aid to be recovered and specified in Article 1(1) and (2) comprises:
Pomoči iz člena 1(1) in (2), ki se morata vrniti, vključujeta naslednje:
the amount specified in Article 1(3) for the period from 1 January 1992 to 31 December 2003;
za obdobje izračuna med 1. januarjem 1992 do 31. decembra 2003 znesek, naveden v členu 1(3);
an amount determined in accordance with the methods of calculation referred to in Article 1(1) and (2) for the period from 1 January 2004 to the time at which the aid is discontinued.
za obdobje izračuna med 1. januarjem 2004 in ukinitvijo pomoči znesek, ki se določi na podlagi metod izračuna, navedenih v členu 1(1) in (2).
Recovery shall be effected without delay and in accordance with the procedures of national law, provided that they allow the immediate and effective execution of the Decision.
Vračilo se izvede nemudoma in skladno s postopki nacionalne zakonodaje, če omogočajo takojšnjo in učinkovito izvajanje te odločbe.
Germany shall, by means of the questionnaire annexed hereto, inform the Commission, within two months of notification of this Decision, of the measures taken to implement the Decision.
Nemčija v dveh mesecih po objavi te odločbe z izpolnitvijo vprašalnika, navedenega v Prilogi, Komisijo obvesti o ukrepih, sprejetih za izvajanje te odločbe.
Brussels, 20 October 2004.
V Bruslju, 20.oktober 2004.
OJ C 81, 4.4.2003, p. 2.
UL C 81, 4.4.2003, str. 2.
Confidential information.
Zaupen podatek
OJ L 386, 30.12.1989, repealed and replaced by Directive 2000/12/EC (OJ L 126, 26.5.2000).
UL L 386, 30.12.1989, razveljavljena in nadomeščena z Direktivo 2000/12/ES UL L 126 z dne 26.5. 2000.
OJ L 124, 5.5.1989, repealed and replaced by Directive 2000/12/EC (OJ L 126, 26.5.2000).
UL L 124, 5.5.1989, razveljavljena in nadomeščena z Direktivo 2000/12/ES UL L 126 z dne 26.5. 2000.
Under the Solvency Directive, credit institutions must have own funds equivalent to at least 8 % of their risk-adjusted assets, whereas the old German legislation required a ratio of 5,6 %; however, this ratio was based on a narrower definition of own funds than that which has applied since the entry into force of the Own Funds Directive.
Kreditne institucije morajo po Direktivi o solventnosti razpolagati z lastnimi viri sredstev v višini najmanj 8 % svoje tveganju prilagojene tehtane aktive, po stari nemški zakonodaji pa se je zahteval delež 5,6 %; ta delež je sicer temeljil na opredelitvi lastnih virov sredstev, ki je bila ožja od tiste, ki velja od začetka veljavnosti Direktive o lastnih virih sredstev.
Lower Saxony Official Gazette [Niedersächsisches Gesetz- und Verordnungsblatt], No 47/1991, p. 358.
Uradni list dežele Spodnje Saške (Niedersächsisches Gesetz- und Verordnungsblatt), št. 47/1991, str. 358.
Moreover, a risk or liability premium was paid primarily because of the risk of loss in the event of insolvency.
Premija tveganja ali jamstva pa se izplača predvsem zaradi tveganja izgube v primeru insolventnosti.
If this were to happen, the capital would be irretrievably lost.
V tem primeru je kapital dokončno izgubljen.
In the event of ongoing (partial) losses, i.e. outside insolvency, there was always a chance that the equity capital might be replenished through profits.
V primeru nenehne (delne) izgube, tj. kadar ne gre za insolventnost, je vedno možnost, da se lastni kapital z dobički povrne.
See, for example, Cases C-303/88 Italy v Commission [1991] ECR I-1433 and C-305/89 Italy v Commission [1991] ECR I-1603.
Glej na primer sodbe v primerih C-303/88, Italija/Komisija, [1991] PSES I-1433 in C-305/89, Italija/Komisija, [1991] PSES I-1603.
Commission communication to the Member States on the application of Articles 92 and 93 of the EEC Treaty and of Article 5 of Commission Directive 80/723/EEC to public undertakings in the manufacturing sector (OJ C 307, 13.11.1993, p. 3, point 11).
Sporočilo Komisije državam članicam o uporabi členov 92 in 93 Pogodbe ES in člena 5 Direktive Komisije 80/723/EGS o javnih podjetjih v predelovalni industriji (UL C 307 z dne 13.11.1993, str. 3, glej točko 11).
Judgment given by the Court of Justice on 12 December 2000 in Case T-296/97.
Sodba SES z dne 12.12. 2000, T-296/97.
OJ L 150, 23.6.2000, p. 1, paragraph 316.
UL L 150, 23.6. 2000, str. 1, odstavek 316.
According to documents provided by Germany, the corporation tax rate was 46 % in 1992, plus a solidarity surcharge of 3,75 %, i.e. 49,75 % in total.
Glede na dokumente, ki jih je predložila Nemčija, je davek od dobička leta 1992 znašal 46 %, temu pa se je prištel še solidarnostni davek v višini 3,75 % (torej skupno 49,75 %).
INFORMATION REGARDING THE IMPLEMENTATION OF THE COMMISSION DECISION ON STATE AID MEASURE
INFORMACIJE GLEDE IZVAJANJA ODLOČBE KOMISIJE
Calculation of the amount to be recovered
Izračun zneska, ki se mora vrniti
Please explain in detail how the interest payable on the amount to be recovered will be calculated.
Natančno razložite, kako so izračunane obvezne obresti na pomoč, ki se mora vrniti.
Please describe in detail what measures have been taken and what measures are planned to bring about the immediate and effective recovery of the aid.
Podrobno opišite, kateri ukrepi so bili že sprejeti in kateri so načrtovani za takojšnjo in učinkovito izvršitev vračila pomoči.
Please also explain what alternative measures are available in national legislation to bring about the recovery of the aid.
Razložite tudi, kateri drugi ukrepi obstajajo v nacionalni zakonodaji za izvršitev vračila pomoči.
Where relevant, please indicate the legal basis for the measures taken or planned.
Navedite pravno podlago za sprejete/načrtovane ukrepe, če obstaja.
By what date will the recovery of the aid be completed?
Do katerega datuma se bo vračilo pomoči izvršilo?
(°) Date or dates on which the aid or individual instalments of aid were put at the disposal of the recipient; if the measure consists of several instalments and reimbursements, use separate rows.
(°) Datum, ko je upravičenec dobil na razpolago pomoč ali posamezne obroke pomoči (če ukrep sestavlja več obrokov in nadomestil, uporabite ločene vrstice)
(°) Date or dates on which the aid was repaid.
(°) Datum povračila pomoči
But for an investor to receive in 2003 the return expected in 1991, which was much higher than the returns actually achieved, flew in the face of all economic realities.
Dejstvo, da vlagatelj leta 2003 prejme donos, kakršen je bil pričakovan leta 1991 in je veliko večji od dejansko doseženih donosov, je v nasprotju z vsakim gospodarskim stanjem.
Permanently and systematically applying a rate of return placed the Landesbanks at an unjustifiable disadvantage compared with private competitors.
Zaradi trajne in sistematične uporabe stopnje donosa so deželne banke neupravičeno v slabšem položaju v primerjavi z zasebno konkurenco.
It pointed out here that the remuneration paid (0,5 % after tax or 1,2 % before tax) corresponded to an indicative interest rate of around 9,5 % before tax (1,2 % + 8,3 %), taking into account the refinancing costs of around 8,3 % which the Land as investor had saved.
Tu poudarja, da je izplačano nadomestilo 0,5 % po obdavčitvi (1,2 % pred obdavčitvijo) ob upoštevanju stroškov refinanciranja v višini približno 8,3 %, ki jih je prihranila Spodnja Saška kot vlagatelj, skladno z okvirno obrestno mero 9,5 % pred obdavčitvijo (1,2 % + 8,3 %).
Furthermore, in addition to the remuneration of 0,5 % after tax, the Land of Lower Saxony had also obtained continuous revenue flows from the promotion-related assets amounting to EUR 242,29 million (DEM 473,88 million).
Poleg tega pa je Spodnja Saška ob nadomestilu 0,5 % po obdavčitvi vseskozi prejemala povračila od sredstev za pospeševanje, ki skupaj znašajo 242,29 milijona EUR (473,88 milijona DEM).
The parties thus decided not to use a risk-free rate obtaining on the market at the time of the capital injection for a fixed investment period (e.g. 10-year return on government bonds) since such an approach would disregard the reinvestment risk, i.e. the risk that it would not be possible to invest again at the level of the risk-free interest rate once the investment period had expired.
Stranke torej niso upoštevale časovno omejenega netveganega donosa, razvidnega na trgu v času prenosa za točno določeno obdobje naložbe (na primer 10-letni donosi na državne obveznice), saj takšna obravnava ne bi upoštevala tveganja ponovne naložbe, t.j. tveganja, da bi po izteku obdobja naložbe prišlo do ponovne naložbe s takšno netvegano obrestno mero.
They opted, therefore, for the REX10 Performance Index of Deutsche Börse AG, which tracks the performance of an investment in Federal loans over a period of ten years.
Zato so uporabile indeks donosnosti REX10 nemške borze Deutsche Börse AG, ki izraža donosnost na naložbo obveznic Zvezne republike Nemčije za obdobje 10 let.
The index series used in the present case contains the relevant end-of-year results of the REX10 Performance Index after 1970.
Ta uporabljena indeksna vrsta vsebuje posamezna letna stanja indeksa donosnosti REX10 po letu 1970.
On the basis of the higher remuneration for preference shares compared with ordinary shares, the Commission considers a premium of at least 0,3 % p.a. (after corporation tax) to be appropriate.
Na podlagi večjega nadomestila za prednostne delnice v primerjavi z nadomestilom za navadne delnice Komisija spoznava pribitek v višini vsaj 0,3 % letno (po davku od dobička) za primernega.
OJ L 150, 23.6.2000, p. 1; actions challenging that decision have been brought by Germany (Case C-376/99), by North Rhine-Westphalia (Case T-233/99) and by WestLB (Case T-228/99). The Commission has also brought proceedings for infringement of the Treaty (Case C-209/00).
UL L 150, 23.6.2000, str. 1; pravna sredstva je vložila Nemčija (pred Sodiščem, primer C 376/99), Severno Porenje-Vestfalija (pred Sodiščem prve stopnje, primer T-233/99) in WestLB (pred Sodiščem prve stopnje, primer T 228/99); Komisija pa je začela postopek glede kršitev Pogodbe (pred Sodiščem, C 209/00).
In NordLB’s case, the only other partner besides the Land at the time the assets were transferred, i.e. NSGV, undertook to make a contribution corresponding in volume to that of the Land — proportionate to its own shareholding — and under similar conditions.
V primeru NordLB se je v času prenosa sredstev edini drugi družabnik poleg Spodnje Saške, t.j.
It duly made such a contribution.
NSGV, zavezal za vlogo, sorazmerno z njegovim deležem in po obsegu skladno z vlogo Spodnje Saške, ki se opravi pod enakimi pogoji, in to je tudi storil.
The presence of such treatment can be ascertained only by checking whether the price paid by the recipient corresponds to the market price.
Če gre za pomoč, se lahko določi le tako, da se preveri, ali cena, ki jo je izplačal prejemnik tega ukrepa, ustreza tržni ceni.
As soon as public monies and other assets are used for commercial, competition-oriented activities, the normal market rules must be applied.
Takoj ko se javna denarna sredstva in druga sredstva uporabijo za trgovske, konkurenčno usmerjene dejavnosti, se morajo uporabiti običajni tržni predpisi.