natgillin/translations-raw huggingface dataset:
Therefore no grounds for compatibility can normally be found for aid in support of credit insurers operating in the area of marketable risks.
74,15-odstotno škodno presežkovno pozavarovanje, ki ga je družba SACE družbi SACE BT zagotovila 5. junija 2009, vključuje pomoč, ki krši člen 108(3) Pogodbe in je nezdružljiva z notranjim trgom.
Nevertheless, the Commission will demonstrate that the three aid measures would in any event not meet any of the conditions to be found compatible under Article 107(3) of the Treaty.
Element pomoči v ukrepu ustreza razliki med provizijo pozavarovanja, ki bi jo zasebni pozavarovatelj zaračunal za tako velik delež pozavarovanja, in provizijo, ki se je zaračunala družbi SACE BT.
Compatibility under the Community Guidelines on State aid for rescuing and restructuring undertakings in difficulty (‘the Rescue and Restructuring Guidelines’) [158]
V skladu s svojo prakso [165] Komisija meni, da bi morala biti provizija za tako velik delež pozavarovanja in tveganja vsaj za 10 % višja od provizije, ki jo zaračunajo zasebni pozavarovatelji za manjši delež pozavarovanja in tveganja.
The Rescue and Restructuring Guidelines define rescue aid as a short-term aid, granted in principle for a period of no longer than six months to give the beneficiary the necessary breathing space to develop a detailed restructuring or liquidation plan.
Za znesek v višini 1,56 milijona EUR, ki ga je SACE BT plačala SACE, pomoč, ki jo je treba izterjati, znaša 156000 EUR.
By its nature, rescue aid is temporary and reversible.
Člen 3
Rescue aid consists usually of loan guarantees or loans granted to an ailing firm while its future is being assessed.
Dokapitalizacija SACE BT, izvedena 18. junija 2009 v obliki prenosa 29 milijonov EUR za kritje izgub SACE BT, zabeleženih leta 2008, je pomoč, ki krši člen 108(3) Pogodbe in je nezdružljiva z notranjim trgom.
As regards the possibility to find the second measure compatible as rescue aid, the Commission notes that the second measure does not present the characteristics of a liquidity support nor had as primary objective to keep SACE BT afloat.
Člen 4
Therefore, the second measure cannot be qualified as rescue aid.
Dokapitalizacija SACE BT, izvedena 4. avgusta 2009, ko je generalna skupščina delničarjev SACE BT odobrila prenos 41 milijonov EUR SACE na kapitalski račun SACE BT („versamento in conto capitale“), je pomoč, ki krši člen 108(3) Pogodbe in je nezdružljiva z notranjim trgom.
As regards the third and fourth measures, they cannot be qualified as rescue aid since they are a permanent and irreversible capital injection.
Člen 5
Under the Rescue and Restructuring Guidelines, the beneficiaries of restructuring aid:
Italija od družbe SACE BT izterja nezdružljivo pomoč, kot je opredeljena v členih 2, 3 in 4.
have to show that they can achieve long-term viability without State aid within a reasonable period of time;
Zneskom, ki jih je treba izterjati, se prištejejo obresti od datuma, ko so bili dani na razpolago SACE BT, do datuma dejanske izterjave, in sicer:
need to demonstrate that they would contribute at least 50 % of the costs of restructuring for large firms (or less in the case of small or medium-sized enterprises) from their own resources.
156000 EUR od 5. junija 2009 (člen 2), 29 milijonov EUR od 18. junija 2009 (člen 3) in 41 milijonov EUR od 4. avgusta 2009 (člen 4).
have to provide measures to address the distortions of competition caused by the aid, in particular through capacity reductions and through divestments going beyond those required to restore viability.
Obresti se izračunajo na podlagi obrestnoobrestnega računa v skladu s poglavjem V Uredbe Komisije (ES) št. 794/2004 [166].
However, the Commission notes that the second, third and fourth aid measures do not fulfil such conditions to be found compatible as restructuring aid under the Rescue and Restructuring Guidelines.
Pomoč se izterja takoj in učinkovito.
It observes for instance the following problems:
Italija zagotovi izvršitev tega sklepa v štirih mesecih od datuma uradnega obvestila o tem sklepu.
Firstly, the business plan of 2009 for 2010-2011 does not demonstrate that it would lead to long-term market-conform profitability of SACE BT (see sections V.1.1.3, V.1.1.4 and V.3.4 assessment);
Člen 6
Compatibility under the Export-credit Communication and the Temporary Framework
podroben opis že sprejetih in načrtovanih ukrepov za uskladitev s tem sklepom;
As the second, third and fourth measures have been unlawfully granted in 2009, in accordance with the Commission notice on the determination of the applicable rules for the assessment of unlawful State aid [159], the Commission is assessing their compatibility according to the provisions of the Export-credit Communication applicable at that time (i.e. the 1997 Export-credit Communication, subsequently amended and prolonged in 2001 [160], 2004 [161] and 2005 [162]) [163].
dokumente, ki dokazujejo, da se je od družbe SACE BT zahtevalo vračilo pomoči.
Under point 4(2) of the Export-credit Communication, the Member States were requested to amend their export-credit insurance systems for marketable risks in such a way that the granting of certain types of State aid to public or publicly supported export-credit insurers in respect of such risks is ended within one year of the publication of this Communication.
Italija obvešča Komisijo o napredku v zvezi z že sprejetimi nacionalnimi ukrepi za uskladitev s tem sklepom, dokler pomoč iz členov 2, 3 in 4 ni v celoti izterjana.
Among the prohibited measures mentioned in point 4(2)(d) of the Export-credit Communication is ‘award of aid or provisions of capital or other forms of finance in circumstances in which a private investor acting under normal market conditions would not invest in the company or on terms a private investor would not accept’.
Italija na zahtevo Komisije takoj predloži vse informacije o že sprejetih in načrtovanih ukrepih za uskladitev s tem sklepom.
Therefore, the third and the fourth measures, consisting in recapitalisation, are not compatible under the Export-credit Communication.
Prav tako predloži podrobne informacije o zneskih pomoči in obresti na terjatev, ki so bili od SACE BT že izterjani.
As regards the second measure, in recital 142 of the opening decision, the Commission expressed its doubts on the compatibility of that measure with the Export-credit Communication and the Temporary Framework.
Ta sklep je naslovljen na Italijansko republiko.
The escape clause provided in the Export-credit Communication (reiterated in the Temporary Framework) aims at addressing temporary lack of insurance coverage available to exporters.
V Bruslju, 20. marca 2013
It thus allows for the State supported insurance or reinsurance to be provided in line with the State aid rules during the crisis subject to the following:
Za Komisijo
a Member State should demonstrate the lack of coverage in the market for the provision of short-term export-credit insurance to the exporters by providing sufficient evidence of the unavailability of cover for the risk in the private insurance market, the scheme is open to all operators and the State charges a price in line with the one that would be charged by private operators for the risks covered (in case practice this provision was interpreted that the State by covering residual risk should apply a higher fee).
Podpredsednik
First, in order for Italy to comply with the escape clause, the Commission provided that Italy should submit the respective evidence.
UL C 177, 17.6.2011, str. 6.
However, Italy decided not to make use of the escape clause.
Glej opombo 1.
SACE replied that it did not find relevant the request of the Commission to submit information that might prove lack of coverage on the market for exporters.
Dodaten izvod v angleškem jeziku je bil poslan 4. januarja 2012.
Second, Italy and SACE repeated their position that the provision of reinsurance by SACE was open to all market operators, as stipulated in the by-laws of SACE.
Dodaten izvod v angleškem jeziku je bil poslan 2. februarja 2012.
In this case, SACE intervened by providing reinsurance coverage in favour of SACE BT, an insurer, and allegedly available to other private insurers.
Tržna tveganja so opredeljena glede na spodnji merili:
However, we have no evidence that there was lack of coverage in the market for the provision of short-term export-credit insurance to the exporters.
geografski položaj (sedež dolžnika v EU in/ali območju OECD) in (ii) trajanje (obdobje tveganja je krajše od dveh let).
As the limited availability of cover would seem to have affected also other operators in the market, the Commission does not have evidence whether other operators than SACE BT had also difficulties to obtain reinsurance cover on the market and, if so, whether they could obtain reinsurance cover from SACE under the same conditions as well.
UL C 281, 17.9.1997, str. 4.
In practice, none of the operators requested this.
Od 1. januarja 2013 Komisija uporablja novo sporočilo o kratkoročnem zavarovanju izvoznih kreditov, objavljeno 19. decembra 2012 (UL C 392, 19.12.2012, str. 1).
Without this information, the Commission cannot conclude that the measure is proportional to the objective, i.e. to remedy the serious disturbance in the economy of Italy.
Omogočil je ustanovitev Inštituta storitev zavarovanja na področju zunanje trgovine – SACE.
It has to be therefore concluded that, instead of applying a measure opened to all operators, Italy implemented a selective measure in favour of one operator, SACE BT.
UL C 217, 2.8.2001, str. 2.
Third, as regards the premium charged, as indicated previously, SACE did not charge a higher price but a price equal to the private reinsurers, whilst it assumed a higher risk (because residual and much larger) that the market participants were not ready to insure, given the situation on the market and SACE BT's financial situation.
Uporabo ločenega računovodstva do vzpostavitve zavarovanja tržnih tveganj družbe SACE je SACE načrtovala že 3. decembra 2003, in sicer med razpravami v okviru priprave začetnega poslovnega načrta.
Finally, the Commission observes that the aid amount calculated for the second measure, i.e. EUR 156000, cannot be declared compatible with the internal market on the basis of the conditions provided in point 4.2.2 of the Temporary Framework because the second measure was not granted in the form of a scheme and because there was no declaration on de minimis aid.
Glej str. 13 Priloge št. 11 k predloženi dokumentaciji Italije z dne 5. marca 2012.
In conclusion, the aid as it was granted under the second measure is not in line with the provisions of the Export-credit Communication and the Temporary Framework.
Glej str. 68–69 letnega poročila za leto 2004, ki je dostopno na:
Compatibility under the Recapitalisation Communication and the Restructuring Communication
http://www.sace.it/GruppoSACE/export/sites/default/download/ar_bilanci/AR_e_bilanci/annual_report2004.pdf.
In recital 144 of the opening decision, the Commission raised doubts on the compatibility of the third and fourth measures with the Recapitalisation Communication and the Restructuring Communication for the financial sector during the crisis.
Letno poročilo družbe SACE za leto 2004.
As the second measure was also granted during the financial crisis, the Commission will also assess its compatibility under this legal framework.
Glej prilogi 5 in 6 k dopisom („Nota Integrativa“) k računovodskim izkazom družbe SACE za leto 2004, ki kažeta finančne odnose med SACE in njenimi nadzorovanimi subjekti.
As following Italy's and SACE's comments to the opening decision the Commission found the submitted information still insufficient to allow for a complete assessment of the measures as potential restructuring aid, in February 2012 the Commission offered Italy the possibility to provide additional elements on potential compatibility ground, by submitting a fully-fledged restructuring plan, in line with the Restructuring Communication.
Ti računovodski izkazi kažejo bistveno povečanje kapitala SACE BT zaradi sredstev, ki jih je družba SACE zagotovila leta 2004 (povečanje družbenega kapitala v višini 100 milijonov EUR in druga povečanja v višini 5,8 milijona EUR).
The Commission's letter set out the main elements that the restructuring plan should include with references to the relevant points of the Restructuring Communication.
Izgube družbe SACE BT v višini 152087 EUR (konec leta 2004) in 1573090 EUR (konec leta 2005) je kril organizacijski sklad („Fondo di organizzazione“).
The Commission found that the documents submitted by Italy included only a compilation of internal documents of SACE which aimed at reiterating Italy's position that the three measures implemented in 2009 are not imputable to the State and comply with the MEIP.
Za leta 2005, 2006 in 2007 se je štelo, da so tveganja v državah OECD v celoti tržna, tveganja v državah, ki niso države OECD, pa netržna.
The Commission notes that, at the time the three measures were granted, Italy did not envisage the possibility to submit a restructuring plan to the Commission according to the requirements of the Restructuring Communication.
SACE je 14. januarja 2009 naznanila vključitev SACE Surety v SACE BT.
Italy argues that such restructuring measures were not either requested by the national supervisory authority, ISVAP.
Glej Prilogo št. 14 – ISVAP:
According to point 10 of the Restructuring Communication, the restructuring plan should identify the difficulties and weaknesses of the aid recipient and outline how the proposed restructuring measures remedy the beneficiary's problems.
Zapisnik ugotovitev inšpekcijske preiskave pri družbi SACE BT z dne 11. oktobra 2010 („Verbale degli accertamenti ispettivi effettuati presso SACE BT, 11.10.2010“), str. 11, predložena dokumentacija Italije z dne 5. marca 2012.
In this respect, Italy argues that SACE BT's crisis was not caused by internal processes, changes in demand or other factors that would impose a deep rethinking of the business model and a subsequent restructuring, but rather by the significant increase of claims triggered by the crisis.
Informacije so dostopne na spletni strani SACE.
The Commission does not find this information sufficient, in particular because SACE BT suffered severe losses in 2008 and 2009.
Uspešnost na področju zavarovanja zavarovatelja se meri kot kombinirani količnik, ki je količnik med izgubami in stroški zavarovalnih premij.
Also, private reinsurers have raised concerns regarding the situation of the company when refusing to participate in the reinsurance coverage of SACE BT for 2009.
Kombinirani količnik, ki je nižji od 100 odstotkov, kaže donosnost na področju zavarovanja, če pa je višji od 100 odstotkov, pa kaže izgubo na področju zavarovanja.
Moreover, SACE BT had not succeeded to become profitable in its first years of operation (2005-2007) contrary to the forecasts of the business plan.
Družba s kombiniranim količnikom nad 100 % je lahko kljub temu donosna zaradi dohodkov od naložb.
This demonstrates that the difficulties encountered by SACE BT were not only triggered by the financial crisis, but also by its own weaknesses.
V segmentu neživljenjskega zavarovanja in zlasti v primeru zavarovanja kreditov se pričakuje, da bo kombinirani količnik manjši od 100 odstotkov.
As regards the restoration of long-term viability, the Commission notes that starting with 2009 SACE BT was subject to some transformations in the organisation, management and business processes.
Kapitalska naložba v SACE BT v višini 105,8 milijona EUR je bila zabeležena v letnih računovodskih izkazih družbe SACE za leto 2004 (kot naložbe v nadzorovane subjekte).
Among the measures taken to improve its situation, SACE BT increased premiums, reduced costs, changed its management.
Struktura pozavarovanja za tržna tveganja družbe SACE BT, kot jo je odobril upravni odbor 22. aprila 2008, vključuje kvotno pozavarovanje in škodno presežkovno pozavarovanje (glej Prilogo št. 14 – ISVAP: Zapisnik ugotovitev inšpekcijske preiskave pri družbi SACE BT z dne 11. oktobra 2010 („Verbale degli accertamenti ispettivi effettuati presso SACE BT, 11.10.2010“), str. 55, predložena dokumentacija Italije z dne 5. marca 2012).
Moreover, SACE BT sold its participation in KUP on 25 February 2009.
Kvotno pozavarovanje je oblika pozavarovanja, pri kateri cedent cedira dogovorjen odstotek vsakega tveganja, ki ga zavaruje in ki spada v razrede poslovanja, za katere velja pozavarovalna pogodba.
However, the Commission considers that these measures were insufficient to expect a restoration of SACE BT's long-term viability.
Pogodba o škodnem presežkovnem zavarovanju je pogodba, pri kateri pozavarovanje krije le določeno škodo (ali skupino škode), ki presega dogovorjeno raven, ti. retencijo, in običajno krije le do dogovorjenega limita.
The projections done at the time in the business plan for 2010-2011, approved on 4 August 2009 (when the fourth measure was implemented), for solely two years ahead showed break-even in the second projected year 2011, but not a return to profitability.
Glej SACE – Odgovor na zahtevek po informacijah, 15. september 2011, str. 11.
There was therefore no evidence of possibility to achieve appropriate profitability within a reasonably short period, in principle, not exceeding five years, i.e. not later than by the end of 2014.
Za namene izračuna povprečnega donosa iz lastniških instrumentov je bila pri ugotavljanju čistega dobička upoštevana figurativna davčna ugodnost („effetto fiscale figurativo“) (glej str. 163 začetnega poslovnega načrta).
Moreover, the underlying assumptions should have been explained and stress-tested.
Sodba Sodišča z dne 16. maja 2002 v zadevi Stardust Marine, C-482/99, Recueil, str.
Italy did not submit information in this respect.
I-4397.
Italy submitted an update of the business plan for 2011-2013, approved on 24 November 2011, i.e. two years after the measures had been granted.
Sodba Splošnega sodišča, T-68/03, ZOdl 2007, II-2911 – Olympiaki Aeroporia Ypiresies AE proti Komisiji Evropskih skupnosti.
SACE BT's objective of gradually improving profitability (ROE) so as to reach […], as stated by the company's Board of Directors of 24 November 2011, was not supported by sufficiently detailed and robust financial projections as required in the Restructuring Communication.
Sodba Splošnega sodišča, T-422/03, ZOdl 2008, II-1161 – SIC proti Komisiji.
As per the financial projections as of end-2011, SACE BT expects to achieve a pre-tax ROE of only […] % in 2013, which correspond to a (post tax) ROE of […] %.
Glej Prilogo 1 k Odgovoru ministra za gospodarstvo in finance z dne 15. septembra 2011.
The latter is manifestly below the cost of capital previously estimated by Italy to be of around [5-10] %.
ministrstvo za gospodarstvo in finance, Odgovor na zahtevek po informacijah, predložen 5. marca 2012, str. 2.
In line with points 22-23 of the Restructuring Communication, the restructuring plan should have demonstrated that the aid granted is limited to the minimum necessary, i.e. the aid restores viability of SACE BT, but does not allow it to expand in the new markets or market segments.
SACE – Odgovor na zahtevek po informacijah, točka 9, predložen 5. marca 2012, str. 2.
On the contrary, according to the submitted data, during the crisis, SACE BT slightly increased its market presence in the credit and surety (‘cauzioni’) market in Italy, moving from sixth position in 2008 to fifth in 2010 (at the same time, for instance, Atradius reduced its market presence from third position to sixth) (see Table 6).
Poseben cilj gradiva, pripravljenega za sestanek upravnega odbora SACE 28. aprila 2004, je bilo zagotoviti ocene „prostega kapitala“ družbe SACE zaradi dotacije kapitala družbi SACE 2 – bodoči SACE BT.
In short, the basic elements of a restructuring plan, such as identification of the difficulties, viability under base case and stressed scenario, limitation of the aid to the minimum necessary and compensatory measures are entirely missing.
Glej Prilogo 1 – „Comunicazione dell'AD al CdA di SACE S.p.A. in vista della riunione del CdA del 28 aprile 2004“ – k Pripombam družbe SACE, predloženim 5. maja 2011 v Odgovoru na sklep o začetku postopka.
In conclusion, even if the measures submitted by Italy and the adjusted business plan for 2011-2013 were to be accepted as a restructuring plan, they do not fulfil the restructuring plan requirements of the Restructuring Communication.
Za podatke glej str. 4 Pripomb družbe SACE, predloženih 5. maja 2011 v Odgovoru na sklep o začetku postopka.
As regards the Recapitalisation Communication, it defines the terms which a recapitalisation instrument has to comply with.
ministrstvo za gospodarstvo in finance, Odgovor na zahtevek po informacijah, predložen 5. marca 2012, str. 2.
If these terms are complied with, the aid can be temporarily approved.
Pripombe družbe SACE, predložene 5. maja 2011 v Odgovoru na sklep o začetku postopka, str. 8, in zapisnik srečanja med predstavniki SACE BT, SACE, italijanskimi organi in službami Komisije 13. julija 2011.
In order to be definitively approved, such recapitalisation aid has to be accompanied by a restructuring plan complying with the Restructuring Communication.
Glej npr. poglavje II, str. 7, začetnega poslovnega načrta.
However, no plan complying with the Restructuring Communication existed.
Glej Pripombe družbe SACE, predložene 5. maja 2011 v Odgovoru na sklep o začetku postopka, str. 9.
Consequently, it is not necessary to assess whether the terms of the third and fourth measures comply with the Recapitalisation Communication since in any event they could not be found definitively compatible.
SACE je ponovila stališča, ki jih je Italija izrazila pred sklepom o začetku postopka.
Conclusion on compatibility
Glej odstavek 1 na str. 15 predložene dokumentacije Italije z dne 12. februarja 2008.
The Commission did not find any grounds for the compatibility of the second, third and fourth measures.
V začetnem poslovnem načrtu je bilo predvideno, da bo SACE BT leta 2008 imela 12,6-odstotni delež na italijanskem trgu s premijami v višini 67,2 milijona EUR.
The Commission concludes that Italy did not use the opportunity to provide the needed elements to claim the aid granted under the second, third and fourth measures as compatible restructuring aid.
Glej SACE – Odgovor na zahtevek po informacijah, 15. september 2011, str. 17.
The submitted documents do not meet the requirements of the Restructuring Communication as the cumulative requirements for compatibility of restructuring aid, i.e. establishment of long-term viability, limitation of the aid to the minimum necessary and measures to limit distortions of competition, are not met.
Glej Prilogo 1 k Odgovoru družbe SACE, 15. september 2011, str. 8.
CONCLUSION
Priloga 8 k Pripombam družbe SACE, predloženim 5. maja 2011 v Odgovoru na sklep o začetku postopka.
The Commission finds that the initial capital allocation of EUR 100 million in the form of share capital and the capital contribution into reserves (so-called ‘Fondo di organizzazione’) in the amount of EUR 5,8 million by SACE for the establishment of SACE BT in 2004 (first measure) did not confer an advantage to SACE BT and thus do not constitute State aid within the meaning of Article 107(1) of the Treaty.
Glej priloge 5–7 k Pripombam družbe SACE, predloženim 5. maja 2011 v Odgovoru na sklep o začetku postopka.
The Commission finds that Italy has unlawfully implemented the aid granted under the second, third and fourth measure in breach of Article 108(3) of the Treaty and concludes that the aid has to be recovered,
Glej Prilogo 2 k Odgovoru družbe SACE, predloženemu 15. septembra 2011, v kateri so bile omenjene številne pobude za prevzeme v sodelovanju z drugimi subjekti, tj. KUP (z družbo SA Ducroire) v sporočilu z dne 19. julija 2006, TINUBU SQUARE (z ONDD in CESCE) v sporočilih z dne 19. julija in 8. septembra 2006, MEHIB (z družbo SA Ducroire) v sporočilih z dne 8. februarja in 18. junija 2007, ali za samostojne prevzeme, tj. CGIC (z možnostjo, da se matična družba SACE lahko odloči, da sodeluje kot ponudnik namesto SACE BT) v sporočilu z dne 15. septembra 2008.
HAS ADOPTED THIS DECISION:
Glej Prilogo 1 k Odgovoru družbe SACE, predloženemu 15. septembra 2011, str. 8.