natgillin/translations-raw huggingface dataset:
9 November 2006 until 13 April 2007
november 2006 do 13. april 2007
Austria also transmitted additional commitments from BAWAG-PSK vis-à-vis the Commission:
Avstrija je Komisiji posredovala tudi dodatne obveznosti BAWAG-PSK:
BAWAG-PSK AG will sell the following assets to a third party that is independent of the BAWAG-PSK group:
BAWAG-PSK AG bo tretji osebi, ki je neodvisna od skupine BAWAG-PSK, prodal naslednje premoženje:
sale, no later than […], of an interest of more than 50 % in P.S.K.
odprodaja več kot 50 % deleža v P.S.K.
Versicherung AG and BAWAG-Versicherung Aktiengesellschaft as reflected in the balance sheet, and the granting of a call option for the acquirer for the rest of the shares;
Versicherung AG in v BAWAG-Versicherung Aktiengesellschaft z bilančnim učinkom najpozneje do […] in priznavanje nakupne opcije kupcu za preostale deleže;
completion, no later than […], of the sale of real estate valued at approximately EUR […] million in total as reflected in the balance sheet;
zaključek prodaje nepremičnin v vrednosti približno […] milijonov EUR s skupnim bilančnim učinkom najpozneje do […];
sale, no later than […], of the […] % interest in […] as reflected in the balance sheet;
prodaja deleža v višini […] % v […] z bilančnim učinkom najpozneje do […];
sale, no later than […], of the 42,56 % interest in ATV Privat-TV Services AG as reflected in the balance sheet;
prodaja deleža v višini 42,56 % v ATV Privat-TV Services AG z bilančnim učinkom najpozneje do […];
sale, no later than […], of […] as reflected in the balance sheet.
prodaja […] z bilančnim učinkom najpozneje do […].
The BAWAG-PSK Group will reduce the volume of its loans to the Federal Republic of Austria) from EUR […] billion to EUR […] billion as of the end of the […] business year, and it will maintain this amount for a period of […] (i.e. until […]) as an upper limit.
Skupina BAWAG-PSK bo do konca poslovnega leta […] zmanjšala količino posojil za Zvezno republiko Avstrijo z […] milijard EUR na […] milijard EUR in ta znesek ohranila za obdobje […], tj. do […], kot zgornjo mejo.
Excluded there from are existing obligations of companies of the BAWAG-PSK group relating to future instalments under previously transacted procurement processes.
Iz tega so izvzete obstoječe obveznosti družb skupine BAWAG-PSK v zvezi s prihodnjimi tranšami že izvedenih postopkov javnih naročil.
BAWAG-PSK AG will refrain, for a period of […] beginning on […], from participating in tender procedures in which the Republic of Austria seeks to commission Primary Dealers to issue bonds for the Federal Republic (state bonds).
BAWAG-PSK AG se za obdobje […], s pričetkom […], odpoveduje udeležbi na javnih razpisih, s katerimi Zvezna republika Avstrija išče pooblaščene vpisnike za državne obveznice.
BAWAG-PSK AG will close […] branches in Vienna by […].
BAWAG-PSK AG bo do […] na Dunaju zaprl […] poslovalnic.
No aid other than that referred to in Article 87(2) of the EC Treaty, or aid granted under research projects jointly financed by the European Union, or aid to general training within approved schemes, or aid for energy savings within approved schemes, shall be granted to BAWAG-PSK until 31 December 2010.
Do 31. decembra 2010 se BAWAG-PSK ne dodeli nobena druga pomoč, razen pomoči iz člena 87(2) Pogodbe ES, pomoči v okviru raziskovalnih projektov, ki jih sofinancira Evropska unija, pomoči za splošno usposabljanje v okviru odobrenih shem ali pomoči za ukrepe varčevanja z energijo v okviru odobrenih shem.
Austria provided details on the value and the reduction effect of each compensatory measure.
Avstrija je zagotovila podrobnosti v zvezi z vrednostjo in učinkom zmanjšanja vsakega kompenzacijskega ukrepa.
Notably, the compensation measures (including the ‘bank run’ — see below) would lead to a reduction of the group balance sheet total of […] % versus 2005.
Po njenem mnenju bodo ti ukrepi (vključno z množičnim dvigovanjem bančnih vlog – glej uvodno izjavo 103) vodili do znižanja bilančne vsote skupine za […] % v primerjavi z letom 2005.
Austria explained why further reductions would jeopardise the Bank's viability.
Avstrija je pojasnila, zakaj bi dodatna znižanja ogrozila rentabilnost banke.
Austria recalled that the Austrian banking market is already highly concentrated.
Opozorila je, da je avstrijski bančni trg močno koncentriran in da na njem prevladujejo štiri bančne skupine – Bank Austria Creditanstalt, ERSTE Bank / Sparkassengruppe, Raiffeisengruppe in BAWAG-PSK.
It is dominated by the four banking groups, the Bank Austria Creditanstalt Group, the group consisting of ERSTE Bank and the savings banks, the group of cooperative banks (Raiffeisen) and BAWAG-PSK, which would dominate the private and the corporate customer business with a total market share between 90 % and 100 %.
Te skupine imajo na področju zasebnih in poslovnih strank skupni tržni delež v višini 90 do 100 %.
Other credit institutions would only play a subordinate role.
Druge kreditne ustanove imajo zgolj podrejeno vlogo.
Thus, the banking sector in Austria would already be very close to an oligopolistic structure.
Zato avstrijski bančni sektor spominja na oligopol.
In the case of an insolvency of BAWAG-PSK, there would be a high probability that its market shares would have moved to the three large main competitors in the banking market.
V primeru stečaja BAWAG-PSK bi si njegov tržni delež zelo verjetno razdelili trije njegovi največji konkurenti v bančnem sektorju.
This would then strengthen the already existing strong market positions.
To bi še okrepilo njihov že zdaj močan položaj na trgu.
The markets for banking services would be subject to special legal and institutional parameters.
Za trge bančnih storitev obstajajo posebni pravni in institucionalni parametri.
Due to the existence of considerable market entry barriers both in the private client area as well as in the commercial client field, market shares of 30 % could already establish dominant market positions [27].
Zaradi znatnih ovir pri dostopu na trg na področju zasebnih in poslovnih strank lahko že tržni delež v višini 30 % pomeni prevladujoč položaj na trgu [27].
In the case of insolvency, therefore, there is a risk that three banking groups would create or strengthen a dominant market position in Austria which considerably increases the risk of market dominance by an oligopoly.
V primeru stečaja BAWAG-PSK bi torej obstajala nevarnost, da tri bančne skupine v Avstriji pridobijo ali okrepijo prevladujoč položaj na trgu, kar pa povečuje nevarnost oligopola na trgu.
Thus a situation would exist in which State aid must be approved in order to avoid the creation or strengthening of a market dominant oligopoly.
Tako bi nastala situacija, v kateri bi bilo treba odobriti državno pomoč, da bi se izognili nastanku ali krepitvi oligopola na trgu.
According to Austria BAWAG-PSK would have moderate market shares in private and corporate business areas, which have again clearly fallen even in 2006.
Avstrija je pojasnila, da ima BAWAG-PSK majhen tržni delež na področju zasebnih in poslovnih strank, ki pa se je leta 2006 še zmanjšal.
This would become evident from the market shares [28] for the year 2006 (Table 6):
To je razvidno iz tržnih deležev [28] v letu 2006 (Tabela 6):
Market share 2005
Tržni delež 2005
Market share 2006
Tržni delež 2006
The corresponding market shares of the three largest banking groups in all those areas would exceed 20 %.
Ustrezni tržni deleži treh največjih bančnih skupin na teh področjih znašajo več kot 20 %.
Austria argued that, with regard to compensations to offset possible distortion effects already incurred market share losses as a result of the ‘bank run’, the regulation on the use of payment under the Guarantee Agreement and the possible effect of compensation measures on the banking sector in Austria would be of major importance.
Avstrija je pojasnila, da so izgube tržnih deležev, nastale zaradi množičnega dvigovanja bančnih vlog, uredba o uporabi plačil v okviru garancijske pogodbe in možni učinek kompenzacijskih ukrepov na avstrijski bančni sektor zelo pomembni za oceno kompenzacijskih ukrepov.
Concerning the loss of market share as a result of the ‘bank run’, Austria is of the view that the reduction of sight deposits and savings deposits of around EUR […] billion from the end of September 2005 until June 2006 already considerably weakened the market position of the Bank.
V zvezi z izgubo tržnih deležev zaradi množičnega dvigovanja bančnih vlog je Avstrija mnenja, da se je zaradi zmanjšanja vlog na vpogled in hranilnih vlog za približno […] milijard EUR od konca septembra 2005 do junija 2006 tržni položaj banke že močno poslabšal.
As the result of ‘mass hysteria’ triggered by media reports, BAWAG-PSK had no chance to hinder the collapse of its savings deposit business.
Zaradi množične histerije, ki so jo sprožili mediji, BAWAG-PSK ni imel možnosti preprečiti zloma svojega poslovanja s hranilnimi vlogami.
The State aid had not, therefore, in any manner distorted the competition in favour of BAWAG-PSK.
Pomoč zato nikakor ni izkrivljala konkurence v korist BAWAG-PSK.
In itself, this ‘bank run’, leading to reduced market shares for BAWAG-PSK, is regarded by Austria as a mitigating measure.
Avstrija množično dvigovanje bančnih vlog, ki je povzročilo izgubo tržnega deleža BAWAG-PSK, označuje za kompenzacijski ukrep.
According to Austria the success of the reorganisation and the continuation of the Bank depended decisively upon a high sales price.
Po mnenju Avstrije je bila visoka prodajna cena zelo pomembna za uspeh prestrukturiranja in nadaljnje delovanje banke.
Any reduction of the sales price below EUR […] billion as the result of compensation measures would have had a direct influence on the Bank.
Vsak padec prodajne cene pod […] milijard EUR zaradi kompenzacijskih ukrepov bi imel neposredne učinke na banko.
A reduction of BAWAG-PSK's value caused by any compensatory measures would have reduced the possibility to obtain the sales price necessary to service the liabilities.
Zmanjšanje vrednosti BAWAG-PSK s kompenzacijskimi ukrepi bi zmanjšalo možnost doseganja prodajne cene, potrebne za poravnavo obveznosti.
Austria claimed that compensatory measures would also harm the market structure in the banking sector in Austria.
Avstrija je pojasnila, da bi imeli kompenzacijski ukrepi negativne posledice tudi za strukturo trga avstrijskega bančnega sektorja.
For example, the sale of the bank branches of BAWAG-PSK in Austria to one of the three other large Austrian credit institutions would cause considerable concerns under merger control.
Prodaja avstrijskih bančnih podružnic BAWAG-PSK eni izmed treh velikih avstrijskih kreditnih ustanov bi v okviru nadzora združevanja sprožila velike pomisleke.
A sale of the branches to a foreign institution would create the specific danger that bank customers of BAWAG-PSK, especially the private clients and mid-size corporate clients would change to other Austrian banks and, thus, further narrow the presently highly concentrated Austrian banking market.
Prodaja podružnic tuji kreditni ustanovi bi pomenila nevarnost, da bi stranke BAWAG-PSK (predvsem zasebne stranke in srednje velika podjetja) prešle k drugim avstrijskim bankam, kar bi še dodatno zožilo že tako močno koncentriran avstrijski bančni trg.
According to the guidelines, the Commission must in this case construe compensatory measures in such a way to avoid this situation.
V skladu s smernicami mora Komisija v takšnem primeru kompenzacijske ukrepe oblikovati tako, da prepreči takšno situacijo.
Austria stressed that the aid in question was limited to the minimum since it was not a permanent liquid capital injection, but a granting of a temporary conditional guarantee which was necessary to maintain a satisfactory level of solvency.
Avstrija je pojasnila, da je bila zadevna pomoč omejena na najnižji možni znesek, saj ni šlo za stalen dotok kapitala, temveč za časovno omejeno jamstvo, ki je bilo potrebno za ohranitev zadovoljive stopnje solventnosti.
Austria explained that since the signing of the purchase agreement on 30 December 2006, it is clear that BAWAG-PSK can completely fulfil the own contributions requirement indicated in the restructuring plan.
Avstrija je pojasnila, da je že od podpisa prodajne pogodbe 30. decembra 2006 jasno, da bo BAWAG-PSK zagotovil lastni prispevek, predviden v načrtu za prestrukturiranje.
The financing of the restructuring would be 100 % secured by BAWAG-PSK itself.
Finančna sredstva za prestrukturiranje bo v celoti zagotovil BAWAG-PSK.
Also the capital injection of EUR 600 million must be regarded as own contribution.
Tudi dokapitalizacijo v višini 600 milijonov EUR je treba označiti kot lasten prispevek.
In response to the publication of the decision to initiate proceedings in the Official Journal of the European Union, the Commission did not receive comments from other interested parties.
Po objavi odločitve o sprožitvi postopka v Uradnem listu Evropske unije Komisija ni prejela nobenih pripomb zainteresiranih strank.
ASSESSMENT OF THE AID MEASURE
OCENA POMOČI
BAWAG-PSK is a firm in difficulty at the time of the granting of the guarantee
BAWAG.PSK je bil v času dodelitve pomoči podjetje v težavah.
According to paragraph 9 of the guidelines a firm is in difficulty where it is unable, whether through its own resources or with the funds it is able to obtain from its owner/shareholders or creditors, to stem losses which, without outside intervention by the public authorities, will almost certainly condemn it to going out of business in the short or medium term.
V skladu z odstavkom 9 smernic je podjetje v težavah tedaj, ko z lastnimi finančnimi sredstvi ali zunanjimi sredstvi, pridobljenimi od lastnikov/delničarjev ali upnikov, brez posredovanja države ni zmožno omejiti izgub, ki bi podjetje kratko- ali srednjeročno gotovo pripeljale do propada.
In its observations following the opening decision, Austria has not contested the opinion of the Commission that BAWAG-PSK has been a firm in difficulty according to the guidelines.
Avstrija v svojih pripombah glede sprožitve postopka preiskave ni ugovarjala mnenju Komisije, da je BAWAG-PSK v skladu s smernicami podjetje v težavah.
The Commission is indeed of the view that, without the guarantee, the bank would not have been able to cope with a continued considerable withdrawal of deposits.
Po mnenju Komisije banka brez prevzema jamstva ne bi mogla obvladovati nenehnega dvigovanja bančnih vlog.
Notably, without the guarantee, as indicated in the 2005 annual accounts, the auditors would not have been in a position to certify the annual accounts of BAWAG-PSK as a going concern.
Kot je navedeno v letnem zaključnem računu za leto 2005, revizorji ne bi mogli potrditi letnega zaključnega računa BAWAG-PSK kot delujočega podjetja.
Consequently, without the guarantee, BAWAG-PSK would have become insolvent/bankrupt within weeks.
Posledično bi moral BAWAG-PSK brez jamstva v roku nekaj tednov prijaviti stečaj.
Besides, the Commission considers that ÖGB could not have dealt alone with the difficulties of its subsidiary.
Poleg tega ÖGB po mnenju Komisije brez podpore ne bi mogel reševati težav svoje hčerinske družbe.
The fact that BAWAG-PSK already had to depreciate claims of EUR […] million against its owner confirms this assessment.
Te trditve potrjuje dejstvo, da je moral BAWAG-PSK zmanjšati vrednost terjatev do svojega lastnika v višini […] milijonov EUR.
As a conclusion of the above, BAWAG-PSK is a firm in difficulty at the time of the granting of the guarantee according to paragraph 9 of the guidelines.
Iz tega izhaja, da je bil BAWAG-PSK v času prevzema jamstva podjetje v težavah v skladu z odstavkom 9 smernic.
In addition the difficulties of BAWAG-PSK are clearly imputable to the Bank and are too serious to be dealt with by the group to which it belongs.
Poleg tega je mogoče težave BAWAG-PSK nedvomno pripisati banki in so prevelike, da bi jih skupina, kateri banka pripada, lahko rešila.
Indeed, neither ÖGB nor AVB would have been able to restructure BAWAG-PSK without public support.
Niti ÖGB niti AVB nista bila sposobna prestrukturirati BAWAG-PSK brez javne podpore.
BAWAG-PSK is therefore eligible to rescue and/or restructuring aid according to paragraph 13 of the guidelines.
BAWAG-PSK je zato upravičen do pomoči za reševanje in prestrukturiranje v skladu z odstavkom 13 smernic.
The investments by the private banks and insurance companies in the two above mentioned SPV, with a view to strengthening the capital ratios of BAWAG-PSK, are not made on a similar basis as the State guarantee.
Naložbe zasebnih bank in zavarovalniških družb v oba SPV za okrepitev temeljnega kapitala BAWAG-PSK niso bile izvedene na podobni osnovi kot državno jamstvo.
The risk exposure for the private investors is considerably lower than the State's exposure in providing the guarantee.
Zasebni vlagatelji so nosili precej manjše tveganje kot država s svojim jamstvom.
Austria confirmed that without the public guarantee for BAWAG-PSK no private investor would have been willing to provide funds which would be considered as equity capital.
Avstrija je potrdila, da, če država ne bi prevzela jamstva za BAWAG-PSK, noben zasebni vlagatelj ne bi bil pripravljen zagotoviti sredstev, ki bi se obravnavala kot lastniški kapital.
Therefore, the occurrence of private investments does not contradict the fact that BAWAG-PSK was in difficulty.
Naložbe zasebnikov torej ne nasprotujejo dejstvu, da je bil BAWAG-PSK v težavah.
Existence of a State aid
Obstoj državne pomoči
In order to ascertain whether a measure constitutes aid within the meaning of Article 87(1), the Commission has to assess whether this measure:
Da bi Komisija presodila, ali je nek ukrep državna pomoč v smislu člena 87(1) Pogodbe ES, mora preveriti, ali
is granted by the State or through State resources,
je financiran s strani države ali iz državnih sredstev,
provides an economic advantage,
zagotavlja gospodarsko prednost,
is capable of distorting competition by selectively favouring certain undertakings or the production of certain goods,
lahko izkrivlja konkurenco zaradi dajanja prednosti posameznim podjetjem ali proizvodnji posameznega blaga, in ali
affects trade between Member States.
negativno vpliva na trgovino med državami članicami.
Use of State resources
Uporaba državnih sredstev
In order to be qualified as State aid, financial resources must be imputable to the State and granted directly or indirectly by means of state resources.
Pomoč pomeni državno pomoč, če jo je mogoče pripisati finančnim sredstvom države in če je neposredno ali posredno dodeljena iz državnih sredstev.
The two above mentioned cumulative conditions are met in the present case as the measure is a State guarantee implemented on the basis of a law.
V zadevnem primeru sta izpolnjena oba kumulativna pogoja, saj je ukrep državno jamstvo, ki je bilo dodeljeno na podlagi zveznega zakona.
Article 87(1) prohibits aid which ‘favours certain undertakings or the production of certain goods’, that is to say, selective aid.
Člen 87(1) Pogodbe ES prepoveduje pomoči, ki dajejo prednost posameznim podjetjem ali proizvodnji posameznega blaga, tj. selektivne pomoči.
The guarantee only benefits to BAWAG-PSK and is therefore selective.
Od jamstva je imel korist samo BAWAG-PSK, zato je ukrep mogoče označiti kot selektiven.
Effect on trade between Member States and distortion of competition
Učinki na trgovino med državami članicami in izkrivljanje konkurence
Article 87(1) prohibits aid which affects trade between Member States and which distorts or threatens to distort competition.
Člen 87(1) Pogodbe ES prepoveduje pomoči, ki negativno vplivajo na trgovino med državami članicami in ki izkrivljajo konkurenco ali pa bi jo lahko izkrivljale.
In its assessment of those two conditions, the Commission is required not to establish that the aid has a real effect on trade between Member States and that competition is actually being distorted, but only to examine whether that aid is liable to affect such trade and distort competition [29].
Komisiji v okviru njene pravne presoje ni treba dokazati dejanskega učinka pomoči na trgovino med državami članicami in dejanskega izkrivljanja konkurence, temveč mora dokazati samo, ali pomoči lahko negativno vplivajo na trgovino in izkrivljajo konkurenco [29].
When aid granted by a Member State strengthens the position of an undertaking compared with other undertakings competing in intra-Community trade, the latter must be regarded as affected by that aid.
Če pomoč, ki jo dodeli država članica, okrepi položaj podjetja v razmerju do drugih konkurenčnih podjetij v trgovini znotraj Skupnosti, je treba konkurenco označiti kot izkrivljeno zaradi pomoči.
The Commission recalls that the banking sector has been open to competition for many years.
Komisija je opozorila, da je bančni sektor že več let odprt za konkurenco.
Progressive liberalisation has enhanced the competition that may already have resulted from the free movement of capital provided for in the EC Treaty.
Zaradi vedno večje liberalizacje se je konkurenca, ki je obstajala že na podlagi v Pogodbi ES predvidenega prostega pretoka kapitala, povečala.
Moreover, BAWAG-PSK has branches or subsidiaries in several Member States, notably the Czech Republic, Slovakia, Slovenia, Hungary and Malta.
BAWAG-PSK ima podružnice oz. hčerinske družbe v različnih državah članicah, zlasti v Češki republiki, na Slovaškem, v Sloveniji, na Madžarskem in na Malti.
Conversely, banks from different Member States operate in Austria, either directly through branches or representative offices, or indirectly by controlling Austrian-based banks and financial institutions.
Po drugi strani pa so v Avstriji dejavne tudi banke iz drugih držav članic, bodisi neposredno preko podružnic oz. zastopništev ali posredno preko nadzora nad bankami in finančnimi ustanovami, ki imajo sedež v Avstriji.
To conclude, there is trade between Member States in the banking sector.
V bančnem sektorju nenazadnje obstaja trgovina med državami članicami.
The guarantee strengthens the position of BAWAG-PSK in relation to banks undertakings competing in intra-Community trade.
Jamstvo okrepi položaj BAWAG-PSK v razmerju do drugih bančnih podjetij, s katerimi BAWAG-PSK konkurira v trgovini znotraj Skupnosti.
Therefore, the guarantee is liable to affect such trade and distort competition.
Jamstvo lahko zato negativno vpliva na trgovino med državami članicami in lahko izkrivlja konkurenco.
Existence of an economic advantage
Obstoj gospodarske prednosti
To constitute a State aid, a measure must confer on recipients an advantage.
Eno izmed meril za obstoj državne pomoči je, da ukrep upravičencu daje prednost.
According to paragraph 4.2 of the notice on State guarantees, a State guarantee is not an aid because there is no economic advantage when the four following conditions are met:
V skladu z odstavkom 4.2 Obvestila o državni pomoči v obliki jamstev jamstvo ni državna pomoč, ker ne zagotavlja gospodarske prednosti, če so izpolnjeni naslednji štirje pogoji:
the borrower is not in financial difficulty;
posojilojemalec ni v finančnih težavah;
the borrower would in principle be able to obtain a loan on market conditions from the financial markets without any intervention by the State;
posojilojemalec bi načeloma lahko dobil posojilo na denarnih trgih po tržnih pogojih brez državne intervencije;
the guarantee is linked to a specific financial transaction, is for a fixed maximum amount, does not cover more than 80 % of the outstanding loan or other financial obligation and is not open-ended;
jamstvo je povezano z določeno finančno transakcijo in ima določen najvišji znesek, ki ne zajema več kot 80 % neodplačanega posojila ali druge finančne obveznosti (razen za obveznice in podobne instrumente) in ni neomejeno;
the market price for the guarantee is paid.
plača se tržna cena za jamstvo.
The Commission considers that the condition under (a) is not met in the present case as BAWAG-PSK is in financial difficulty at the time of the granting of the guarantee.
Komisija meni, da pogoj (a) v zadevnem primeru ni izpolnjen, saj je bil BAWAG-PSK v času prevzema jamstva podjetje v težavah.
Moreover, no market operator would have granted the guarantee for a fee of 0,2 % paid by BAWAG-PSK.
Poleg tega noben udeleženec na trgu ni prevzel jamstva za 0,2 %, cene, ki jo je plačal BAWAG-PSK.