commiss decis octob law greek govern grant aid greek industri greek text authent eec commiss european commun regard treati establish european econom commun subparagraph articl thereof notic accord articl interest parti submit comment regard comment decis octob commun greek govern letter date novemb sg commiss inform greek govern open procedur pursuant paragraph articl eec treati respect law organ financi reconstitut undertak law creat organ financi reconstitut undertak organ oper busi reconstruct organ sa bro purpos bro contribut social econom develop countri financi rejuven undertak pursuant law import applic foreign technolog develop greek base technolog establish oper social mix economi undertak purpos carri object bro administr oper handl undertak undergo rejuven social undertak particip capit exist undertak undertak brought grant loan kind undertak participatori interest likewis provid guarante secur loan issu bond loan greec abroad subject condit procedur laid relev provis acquir bond issu state organ control state likewis loan agreement issu undertak organ bank make share employe repres bodi local govern bodi legal person public law charit institut social bodi privat person loan greek state bank greec financi institut greec abroad guarante unguarante greek state accept deposit legal person public law public organ undertak participatori interest undertak made subject applic law control bro decis minist nation economi render opinion advisori committe occur condit met compani suspend ceas trade financi reason stop make payment receivership temporari administr form liquid debt time sum compani capit visibl reserv manifestli unabl meet oblig interest nation defenc vital import exploit sourc nation wealth request made subject law procedur invok law minist nation economi issu decis publish govern gazett make undertak subject implement law applic undertak applic manpow employ organ applic state bank matur claim undertak applic creditor undertak applic final interim truste receiv issu decis minist nation economi make undertak subject implement law bro administr undertak bro make arrang oblig undertak ensur viabil increas capit subscript convers exist liabil share restructur exist liabil ii busi reconstruct organ set law part organiz structur greek state capit organ subscrib held greek state state local govern bodi employe bodi state control bank public sector undertak bro administ board manag made chairman member chairman member appoint remov decis minist nation economi member gener feder greek worker remaind gener meet sharehold organ public sector law state specif area jurisdict deal administr author organ enjoi except procedur privileg prerog state financi resourc bro obtain directli state initi share capit dr million divid share nomin dr fulli paid state month law come effect decis minist nation economi publish govern gazett capit increas total dr million law state resourc bro subvent budget ministri nation economi public invest programm subsidi gift request receipt handl oper action undertaken bro purpos implement decis minist nation economi pertain rejuven undertak made subject law exempt tax stamp duti levi gener imposit payabl state parti except moni payabl municip commun object special statu financ resourc bro place public sector activ cover decis commiss convei member state letter date septemb sg applic articl eec treati public hold compani capit commun commiss laid clear guidelin intervent type carri bro defin condit intervent public sector consid priori state aid mean articl eec treati state act manner privat person legal entiti open market act intervent priori regard state aid action notifi commiss pursuant condit articl eec treati intervent bro fall categori intervent bro provid state aid compani subject intervent convers outstand debt equiti reliev high level interest payment clean balanc sheet addit financi advantag advantag result directli financi resourc power statu bro semi state para statal bodi compani bro interven restor viabil account larg percentag greek industri product major export compet intra commun trade compani receiv similar benefit flow bro intervent compani receiv state aid mean articl eec treati distort threaten distort competit affect trade member state incompat common market examin law show provis method adopt increas capit compani control bro infring articl seq seq council direct eec direct compani law member state propos measur incorpor state aid infring commun rule state aid provis treati procedur articl grant wide discret commiss produc result contrari rule commiss unabl exercis discretionari power pursuant articl infring elimin iii framework procedur consult interes parti greek govern repli formal letter date januari ref observ receiv govern member state industri feder addit intervent receiv greek compani framework procedur greek govern repli open procedur pursuant articl contest convers compani debt equiti amount aid argu inject fresh monei simpli account oper account compani hand greek govern justifi total oper fact ow structur capit market greec lack stock exchang facil compani difficulti borrow loan high rate interest gener thrust greek govern respons law oper bro repres respons econom situat develop greec contend light econom reform programm applic articl commiss account protocol act access greec state applic articl eec treati account object econom expans rais standard live popul greek govern gave detail explan oper bro inform compani interven express willing inform commiss signific individu case intervent framework separ exchang letter discuss greek govern undertook relev provis law amend make compat provis refer direct compani law iv articl eec treati aid meet criteria laid principl incompat common market except provid articl applic case natur intervent direct attain object paragraph articl list aid compat common market compat treati determin context commun singl member state order ensur proper function common market regard principl embodi articl treati except provid articl constru narrowli aid scheme individu aid award scrutin invok commiss satisfi aid market forc insuffici guid recipi pattern behaviour serv object except regard except provid articl aid promot econom develop area standard live abnorm low employ greec regard meet definit concept region develop except link base essenti provis aid invest major expans convers undertak involv larg scale invest physic natur cost case law intervent bro respect compani fallen financi difficulti consequ restor balanc sheet fall prescript except except provid phase articl aid promot execut import project common european interest appli law intend promot execut project orient pure develop greek economi applic part articl aid remedi disturb economi member state condit appli econom situat greec constantli deterior octob intern extern imbal creat difficult situat demand firm polici measur greek author confront extern payment pressur exchang rate septemb octob introduc econom stabil recoveri programm programm includ measur devalu drachma introduct interest bear import deposit scheme complet overhaul wage index major fiscal adjust tighten credit monetari polici european commun recogn implic situat greec agre measur regard infring eec treati appli measur provid pursuant articl treati greec grant commun loan million ecu permit continu grant subsidi export limit period time time auster programm institut greek compani financi difficulti result previou polici wage limit make worker redund price control interest rate valuat greek drachma regard import greek compani maxim econom perform object auster programm achiev major effort greek govern undertak revers past polici octob stabil programm law oper busi reconstruct organ regard integr part programm individu intervent bro cover compani liquidaton redempt remain account approxim industri employ greec consider larger percentag industri output intern trade larg section greek industri allow liquid major neg effect achiev success auster programm conclud condit articl part appli law oper busi reconstruct organ view protocol greek access treati refer commiss empow decis author gener scheme state aid impos condit result assess scheme includ relev oblig notifi individu signific case consid point view impact intra commun trade competit commiss regard consider commun polici result judgment court case philip morri versu commiss court paragraph assess involv oper except provid articl made commun context commiss requir notif signific individu case applic law part monitor scheme input eventu reassess light hope benefici effect period gener remedi measur greek economi respect posit note commiss approach line broadli analog case gener aid scheme period denmark franc itali term articl aid order consid compat common market natur remedi perceiv disturb economi member state concern case matter grant aid compani basic viabl run difficulti threaten surviv oper result left stronger competit posit vi vi industri member state occur difficulti arisen place aid promot expans product capac shift problem find genuin solut social industri problem face commun aggrav situat medium long term futur effect obstruct compromis specif aid polici exist appli sensit sector applic articl law relev case measur design contribut develop econom area econom activ sens articl interpret commiss decis state aid case econom area object law concept develop econom activ case law present commiss sens develop case system rescu aid involv programm restructur sens capac reduct ration product intervent bro limit scale financi recoveri undertak question law situat oper preced applic state aid rule recent year view conclud law qualifi except term articl part bear mind decis court philip morri case cite aspect law refer commiss retain control applic measur question commiss adopt decis articl commiss object implement law subject condit set greek govern decemb amend relev provis law bring conform articl seq seq direct eec condit appli long present condit law oper bro appli continu appli intervent bro carri propos chang statu statut greek govern notifi individu case intervent firm made subject law emploi person case sensit branch person case sensit branch greek govern ensur case compani control bro pursuant law increas capac combin capac compani merg measur restructur ensur viabil firm question greek govern notifi commiss pursuant articl eec aid propos greek aid scheme firm subject intervent bro greek govern ensur complianc bro specif aid polici appli steel shipbuild synthet fibr sector articl greek govern inform commiss month notif decis measur compli herewith articl decis address hellen republ brussel octob commiss peter sutherland member commiss oj oj ecr