commiss decis novemb aid shipbuild ship repair itali articl law march italian text authent eec commiss european commun regard treati establish european econom commun subparagraph articl thereof parti concern notic submit comment provid articl regard comment august italian govern notifi scheme aid shipbuild ship repair cover period juli decemb commiss decid octob open procedur laid articl eec treati march presid italian republ promulg law introduc notifi aid articl law provid presid italian council minist amend decre element approv commiss make compat common market promulg law fact element notabl articl provid addit aid build stock aid form subject matter present decis telex ministri ship date italian govern offici inform commiss element law juli commiss decid close articl procedur decis author inter alia product aid shipbuild level prevail previou scheme implement period januari decemb extend june product aid ship repair minimum elig contract fix lit million lit million maximum rate reduc point mezzogornio provid law total budget aid shipbuild ship repair sector includ invest aid aid research develop demolit aid set lit million durat scheme aid build stock hand lit million devot top budget lit million commiss consid articl law imprecis italian govern decid implement commiss decid defer assess provis letter date januari italian govern notifi commiss draft decre layng rule award aid provid articl law commiss request addit inform letter date march italian author repli telex date draft notifi italian govern grant year raw materi semi finish product finish product store shipbuild ship repair yard alloc specif order larg yard qualifi yard appli aid provid march year detail inventori categori raw materi semi finish product finish product store warehous slipwai list examin registro italiano naval bodi empow law carri check connect aid italian shipyard check base yard bookkeep record inventori good assign firm order aid discontinu italian author acknowledg stock requir italian yard differ markedli yard member state claim measur question justifi fact cost monei made ty capit warehous store expens itali expens steadili increas crisi deepen point aid consid except temporari cover year preliminari scrutini commiss conclus view condit aid award intens relat cost build ship calcul stock cover aid intend singl ship period storag vari bilater talk italian author admit type product concern rang raw materi finish product stock question account cost singl vessel case grant amount stock repres intens point ad basic rate direct product aid mezzogiorno case stock held ship repair yard turnov rule faster felt maximum intens reduc half give point ad basic rate mezzogiorno commiss consid natur aid foremost yeard order enabl anticip work tantamount aid continu oper pend order effect delai capac cut implemet restructur measur commiss base approv aid exist scheme commiss conclud aid fulfil condit exempt articl eec treati letter date juli request italian govern submit comment member state inform decemb interest parti decemb ii italian govern submit comment procedur letter date septemb state measur question except limit durat challeng commiss interpret purpos intens aid provid articl law italian govern opinion purpos aid limit cost servic sum larg shipyard borrow order build stock cost high itali ow level interest rate aid intens italian govern argu estim made compet depart amount elig assist year scheme oper lit million grant paid amount approxim lit million view time limit payment grant equival repres annual product view fact budget devot grant period lit million averag intens year higher member state submit comment accord procedur iii articl council direct eec april aid shipbuild amend direct eec set condit aid sector consid compat common market progress reduc grant link attain industri restructur object articl state assess compat measur common market commiss account aid member state concern construct sale acquisit ship aid affect shipbuild sector budgetari fund alloc aid crisi aid agre measur provid law favour shipbuild commiss author product aid level contract price larg shipyard shipyard mezzogiorno budget devot aid amount lit million period juli decemb take decis commiss account market condit graviti crisi shipbuild sector itali agre progress reduct aid retent origin rate period aid provid articl law effect reduc cost produc ship ad contract relat aid agre commiss method calcul aid intens base singl ship commiss practic annual product italian author practic maximum rate aid contract author commiss systemat increas point calcul pure budgetari term take account product aid budget lit million turnov lit billion budget million assign aid build stock repres relat turnov figur addit subsidi point articl direct eec maximum level author commiss exceed author exce level except measur specif contract case examin merit articl law cover possibl resort provis submit shipbuild aid scheme commiss italian author undertook implement restructur plan aim reduct product capac measur term employ amount cut spread period aid mechan financ stock limit raw materi extend semi finish finish product foremost system oper aid enabl yard begin build ship receiv order shipyard exist artifici pressur carri structur adjust shipbuild capac member state commun clear state affair contraven spirit articl direct eec paragraph state commiss pai attent adapt shipbuild industri condit constraint prevail market verifi programm adapt industri compar carri member state paragraph state commiss account aid member state concern construct sale acquisit ship affect shipbuild sector examin budgetari fund alloc thereto budget lit million assign product aid larg shipyard shipyard qualifi grant amount invest aim ration restructur fund earmark purpos amount lit million period lit million set research shipyard italian shipbuild industri heavili depend domest shipown indirectli benefit substanti assist grant law amend law respect ship built indisput aid grant stock effect reduc cost build ship enabl yard quot lower price yard commun enjoi advantag spectrum aid measur larg shipyard suffici broad untoward effect addit aid build stock unjustifi iv aid ship repair grant form product aid aid mean articl eec treati agre except provis articl law provid contract relat grant commiss account state italian ship repair industri insert restrict decis increas minimum contract qualifi assist lit million provid law lit million reduc rate award case yard mezzogiorno rate remain fix italian author undertook send commiss restructur plan public sector privat sector order reduc industri size light substanti overcapac exist commun overcapac put dry dock itali case ship repair aid build stock difficult quantifi precis term intens view type repair faster turnov stock low intens effect elimin restrict element commiss introduc system direct product aid event oper aid enabl yard reduc product cost quot competit price yard member state background cutthroat competit due overcapac level price charg countri distort competit commun yard incompat common market author aid ship repair condit commiss express view aid remain except enabl italian govern bring size sector line market requir view situat ship repair sector itali aid assist restructur sector restructur great impact employ region concern higher rate award applic south countri answer account special situat obtain region addit aid form grant build stock run counter object set aid author aid run counter eec treati enabl italian ship repair yard charg abnorm low price compar commun yard contribut attain object laid articl eec treati italian govern give commis found ground establish aid build stock shipbuild industri meet condit requir make compat rule laid direct eec case similar aid ship repair ground found establish compat common market articl eec treati compat aid common market assess commun point view singl member state argument advanc italian govern compens disadvantag suffer italian shipbuild ship repair yard result high rate interest pai amount borrow build stock commiss consid phenomenon inher economi member state parallel special circumst rel weak italian lira compar foreign currenc phenomenon make italian yard attract sector itali depend foreign countri suppli addit aid minimum intens incent anticip order save product cost made commun yard fact bear cost carri stock inher proper function shipbuild ship repair yard aid effect delai restructur larg italian shipyard yard member state bring product capac line demand distort competit commun yard conclus aid provid articl law build stock shipbuild industri fulfil condit benefit provis direct eec aid build stock ship repair industri fulfil condit qualifi exempt articl eec treati aid incompat common market adopt decis articl aid shipbuild ship repair form grant equal year stock raw materi semi finish product finish product provid articl italian law march incompat common market articl italian govern implement provis articl law march inform commiss month date notif decis measur compli therewith articl decis address italian republ brussel novemb commiss peter sutherland member commiss oj oj