commiss decis aid grant greek govern cement manufactur halki cement compani 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 summer report appear greek press greek govern decid grant aid halki cement compani hereinaft refer halki aid form convers debt capit basi decis governor bank greec date april amend decis date juli letter date august commiss inform greek govern capit halki debt public institut constitut state aid put effect prior notif approv commiss accord articl eec treati greek govern repli letter date octob convers halki debt capit place sharehold meet place shortli meet expect decid increas halki capit greek govern agre commiss convers halki debt notifi pursuant articl commiss remind greek govern halki letter date novemb necess earli notif convers debt capit danger aid grant unlawfulli aid subject recoveri order halki repli letter date decemb state sharehold meet decid novemb increas compani capit dr million sharehold preferenti right particip share issu expir decemb repli notif receiv greek govern basi inform time commiss view transform capit halki debt part constitut state aid view grave financi situat compani commiss note halki net worth drop minu dr million end due loss sustain year commiss consid halki increas debt ow public enterpris constitut state aid compani appar show lenienc halki longer consid conform normal market behaviour commiss decid april initi procedur provid articl eec treati letter date april gave notic greek govern submit observ ii greek govern submit observ procedur letter date august state decis date april halki made subject provis law provid liquid liquid compani expect place end letter date octob commiss remind greek govern comment alleg aid element halki outstand debt ow public creditor receiv repli confirm halki liquid envisag letter date august commiss letter date februari request inform order termin procedur inform notabl concern halki liquid envisag august debt public enterpris product export member state greek govern warn debt write public creditor order facilit compani constitut state aid commiss prior approv greek govern fail repli context consult interest parti govern member state sector feder cement manufactur submit observ support commiss action observ submit greek govern letter date octob invit comment comment receiv iii public servic author show abnorm lenienc compani collect claim action lack constitut state aid basi inform provid greek govern framework articl procedur aid grant heracl gener cement compani commiss note halki loss make year loss amount dr billion dr billion dr billion dr billion turnov dr billion heavi loss forc compani bankruptci realiti halki continu oper creditor fail collect claim halki long short term debt increas dr billion dr billion dr billion dr billion end letter date april greek govern invit submit observ framework procedur commiss note possess breakdown halki liabil basi inform time commiss drew conclus public bank energi compani show lenienc halki conform normal market behaviour halki increas debt ow public enterpris constitut state aid specif remind octob februari greek govern fail provid inform halki debt statement commiss reason letter date april absenc statement inform contrari commiss draw conclus assumpt set letter greek govern date april correct public enterpris agenc bank energi compani shown lenienc halki conform normal market behaviour halki increas debt ow public enterpris constitut state aid halki allow oper favour condit competitor cost ultim greek govern plan transform halki debt capit consid constitut state aid view compani financi difficulti fact halki made subject decis april provis law liquid alter apprais liquid greek govern august expect place end year place due lack inform commiss unabl calcul estim aid element halki outstand increas debt circumst stem lack cooper shown greek govern commiss oblig close present procedur adopt decis basi inform dispos judgment court justic juli case belgium commiss iv aid question incompat common market mean articl eec treati cement tradeabl good low price weight ratio make competit short distanc product site transport land practic intern trade cement cross border small radiu seaborn larg vessel larger distanc product cement commun reach million tonn million tonn million tonn greek product account commun product greec export approxim half product cement tradition countri middl east northern africa due inter alia increas local product tradit export market greek cement compani divert increas portion product member state unit state america greec export million tonn countri tonn member state export million tonn countri million tonn member state greec export million tonn countri million member state halki largest greek manufactur cement heracl gener cement compani titan cement compani halki share sale domest market halki particip greek cement export member state shown submiss made interest parti framework procedur greek govern fail provid inform commiss request halki export member state commiss unabl give indic size export financi assist state strengthen posit enterpris compar compet commun deem affect enterpris aid greek govern grant halki intend grant compani affect trade member state distort threaten distort competit mean articl eec treati notifi decis grant aid draft commiss greek govern fail fulfil oblig pursuant articl eec treati case aid grant prior notif aid found incompat common market commiss requir member state recov aid recipi greek govern fail provid inform framework procedur aid measur beneficiari thereof decis make halki subject liquid provis law commiss oblig verifi basi inform possess derog provid articl appli aid vi except gener incompat aid set articl eec treati inapplic case view natur aid direct attain object articl articl treati list aid consid compat common market compat treati view context commun singl member state order ensur proper function common market account principl laid articl eec treati except principl articl set paragraph articl interpret strictli aid scheme individu aid award examin invok commiss establish aid free plai market forc induc potenti recipi act manner contribut attain object sought appli except case contribut attain object aid essenti end tantamount grant undu advantag industri firm member state financi posit bolster affect trade member state distort competit justifi mean articl view aid halki fall categori except provid articl regard except provid articl aid promot econom develop area standard live abnorm low underemploy whilst greec regard meet definit concept region develop except link base essenti provis aid invest expans convers undertak involv invest physic natur cost aid form uncollect claim transform claim capit restructur order restor halki viabil fall requir derog greek govern claim case except provid part articl aid halki promot execut import project common european interest greek govern claim case applic part articl aid remedi disturb economi member state commiss decid decis eec disturb greek economi constantli deterior econom situat octob subsequ auster programm set greek govern commiss state regard law oper integr part programm commiss note compani individu intervent place put liquid remain commiss decid greek govern ensur measur restructur ensur viabil firm question halki made subject law april commiss note greek govern liquid compani commun commiss form restructur measur condit law appli fulfil aid halki remedi disturb greek economi mean articl respect exempt provid articl oper aid form claim public enterpris collect transform claim capit facilit develop econom activ econom area contrari allow public enterpris collect claim halki let claim increas allow public enterpris waiv claim restructur compani greek govern preserv statu quo halki permit postpon adapt allow compet equal term cement manufactur greec member state postpon liquid bankruptci shown part iv decis greek export member state increas markedli year framework procedur italian competitor halki note compani increas export cement itali tonn tonn probabl tonn figur reject greek govern fail comment observ interest parti submit letter date octob commiss consid oper aid advers affect trade condit commun cement sector extent contrari common interest aid meet condit set articl incompat common market conclus alter fact aid compani question ceas forc ceas activ greek author envisag liquid halki vii mention part commiss demand beneficiari aid refund aid grant commiss prior approv aid found incompat common market reason part iii commiss unabl quantifi aid element halki outstand debt duti greek govern implement measur compli decis determin amount aid abolish basi gener busi practic amount equal differ volum halki present debt public enterpris agenc volum debt public enterpris agenc regard accept compani halki size creditworthi measur adopt calcul amount aid abolish commun commiss month enabl verifi conform adopt decis articl aid award greek govern halki cement compani allow public enterpris agenc collect claim compani allow claim increas illeg award breach rule set articl eec treati incompat common market fulfil criteria exempt provid articl eec treati abolish greek govern hand refrain implement propos grant aid transform debt compani capit articl greek govern recoveri abolish aid refer sentenc articl articl greek govern inform commiss month date notif decis measur compli herewith articl decis address hellen republ brussel commiss leon brittan vice presid european court report oj