commiss decis april aid grant greec fertilis compani notifi document number greek text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof notic parti concern submit comment accord articl regard comment commiss attent drawn complaint aid greek author fertilis compani protypo ktimatikif touristiki moretco model real estat tourism pkt anonimi eteria biomihania azotouhon lipasmaton aeval nitrogen fertilis industri nfi octob commiss decid initi procedur provid articl ec treati respect aid consider greek author inform letter octob procedur initi repli receiv commiss letter date januari regist januari text letter greek author publish offici journal european commun prompt reaction interest parti european industri associ field concern chamber commerc member state view interest parti convei greek author observ letter septemb letter commiss ask inform specif point case greek author repli receiv letter date novemb ii recipi pkt drapetsona fertilis df commiss origin inform submit procedur launch pkt call anonimi elliniki eteria himikon proiondon ke lipasmaton hellen chemic product fertilis aeehpl compani hand receiv fail pai outstand debt grd billion nation bank greec nbg fix asset bought nbg grd billion set pkt time bank wrote remain grd billion unpaid debt asset transfer pkt condit main continu oper fertilis factori temporari basi refund purchas price asset nbg inform factori continu oper nbg allow unlimit time payment instal pkt poor financi posit balanc sheet cover year oper show loss greatli exceed compani equiti result net posit neg year financi year close substanti loss pkt novemb ceas engag fertilis product newli establish subsidiari lipasmata drapetsona drapetsona fertilis df df regist loss grd billion reduc equiti approxim grd billion nfi inform commiss hold submit procedur launch nfi belong agricultur bank greec abg control greek state nfi run loss equiti practic nil equiti larg neg ow loss doubt compani meet short term oblig liquid problem arisen aid proceed initi respect measur write abovement grd billion debt nbg indefinit postpon payment instal refund purchas price grd billion paid nbg loan grd million made pkt nbg septemb state guarante grant octob loan grd billion made df nbg januari state aid loan intend cover loss compani sustain grd million grd million note compani set time loan grd million made df nbg state aid grant juli capit inject grd billion abg carri favour nfi support nation electr board enforc payment outstand debt grd billion quota system brought oper synel fertilis market organis greec control state own bank abg purpos ensur level outlet turnov pkt df nfi achiev ordinari market condit iii interest parti unanim back commiss posit stress difficulti commun produc face greek fertilis market state support local compani receiv iv posit greek author proceed summaris nbg write aeehpl debt asset compani hand receiv liquid virtual entireti nbg admit creditor claim prior commenc receivership respect loan grant compani wound payment purchas price factori pkt made increas equiti amount equal annual instal amount increas cover sharehold nbg instal paid balanc paid agre payment date statement discharg respect payment pass commiss difficulti face pkt subsequ df due annul council state govern order grant aeehpl compani authoris modernis plant annul state order product unit ceas oper environment reason contamin activ dens popul area led fall product meant sale made reach break point purpos nbg loan greek state guarante enabl compani cope oper difficulti face product unit shut factori oper temporari basi prefectur piraeu order ceas oper good juli latest word object state contribut enabl firm restructur scale product environment reason greek author aid measur consider regard compat treati virtu exempt allow articl commun rule state aid environment protect point refer oper aid aid affect trade member state greec share trade minim fluctuat nfi februari chief sharehold abg increas equiti launch invest plan modernis plant view manufactur product increas product compani hope improv financi situat scheme produc result hope compani fail overcom financi difficulti august fact forc close oper bank contribut fall categori state aid bank object invest subsidiari maximis profit synel privat compani time fertilis market liberalis impos product quota fertilis manufactur suppli payment term fix agreement vari depend quantiti fertilis purchas synel nationwid compani custom greec factor determin choic supplier compar advantag physic locat pkt df competit term cost transport product central southern greec competitor establish northern greec exist state aid mean articl treati oper nbg greek state abg nation electr board synel consid context action nbg complaint case nbg indirectli control greek state complaint tangenti relat case refer activ nbg claim bank intent purpos ident greek state larg extent share belong state legal person govern public law inform complaint true state hold approxim bank capit hold organis control state total state hold remain divid great sharehold real control run bank sourc board director elect gener meet sharehold total board member governor deputi governor bank simultan chairman vice chairmen board appoint govern appear gener meet member board repres public interest bishop repres greek church constitut separ state case state aid case nn nn greec commiss ask greek author nbg public sector privat sector bodi answer receiv bank emerg articl law nbg longer public sector state longer hold capit major stake direct state particip bank capit total state particip share held public sector confer special right board director elect freeli control gener meet sharehold provis entitl state appoint member board repeal law law repeal provis requir public sector organis repres gener meet sharehold ministri financ labour share repres greek author maintain longer argu act bank govern bodi act state bank decis constitut state aid commiss take account composit bank capit larger share belong privat sector inform pass show major member board director nbg repres public sector commiss conclud bank control greek state board director decis fall scope articl treati commiss notifi greek author conclus context case april write grd billion debt favour aeehpl defer pkt debt payment nbg greek author deni place constitut state aid measur commiss close procedur respect matter loan grant pkt df remain consid bank grant loan firm state guarante state guarante favour pkt df guarante ministeri decis octob januari june publish greek govern gazett ad hoc measur favour undertak product unit mean articl ec treati procedur greek author assur guarante grd million loan author produc letter ministri financ ministri econom affair date octob show guarante loan question withdrawn lack rate secur conclud pkt receiv state guarante loan grd million commiss close procedur relat matter observ procedur greek author deni guarante favour pkt evid cancel produc df constitut aid constitut oper aid grant purpos meet environment requir greek author maintain state contribut consider impact trade member state greec share trade limit scope commiss procedur conclud greek author contradict line argument measur question constitut aid mean articl treati argument stand greec fact share albeit slight intra commun trade commiss state initi procedur commiss show trade commun fertilis market substanti million tonn million tonn greec export member state account term volum intra commun trade term volum greec import intra commun trade sector commiss conclud survei fertilis market inform import member state meet depend estim countri requir import trade stress parti plai part procedur european fertilis produc associ involv case greec fertilis import fluctuat tonn tonn involv type fertilis produc greec tonn member associ question produc associ involv procedur greec import tonn fertilis member state roughli domest consumpt greek author acknowledg df export part product member state commiss conclud state intervent purpos sustain compani viabil effect product export state intervent question affect trade member state distort rule competit survei commun industri report fertilis trade western europ shrank half hit fall consumpt slightli higher price financi situat produc western europ deterior rise import european union competit oversea market produc central eastern europ develop led factori restructur close rapidli trend continu member state todai commun fertilis industri emploi peopl figur drop mid industri recov competit technic financi posit servic european market term quantiti qualiti fertilis demand forecast market appear stabl futur trend appar survei commun industri year report product stabilis come year number year excess product capac low demand purpos state intervent speed restructur industri question greec process carri member state commiss conclud aid distort competit view share interest parti submit comment stress suffer compar disadvantag compar undertak receipt aid state support enabl carri sell loss figur suppli parti greek author disput difficulti face pkt df prevent nfi sell output price prevail market price sourc firm question pursu steadi polici systemat charg lower price charg supplier forgotten grievanc prompt complain act case conclud aid form state guarante affect trade member state state guarante favour df constitut state aid caught articl ec treati analysi suffici demonstr measur consider state aid commiss felt advis add comment content put forward greek author greek author refer figur ground suppos guarante question aid mean articl treati point explicitli make assert letter novemb greek author df wound asset suffici auction cover liabil nbg liabil parti greek author object df real estat immov properti grd billion certifi declar submit piraeu revenu offic declar date consist purchas price paid nbg pkt asset question grd billion greek author purchas properti nbg place basi public call bid figur market estim fact sum order enter pkt balanc sheet greek author charg regist df properti respect loan made df nbg cover difficulti object compani land immov properti state lastli nbg charg df properti grd billion letter januari greek author certifi problem aros compani creditworthi ascertain pkt df compani turnov properti liquid mortgag posit obtain requisit work capit bank rememb greek author point assert secur df offer enabl obtain loan intend cover loss need recours state guarante matter refer requir detail commentari begin df set exclus purpos exploit factori plant belong pkt leasehold term owner demonstr read df balanc sheet refer land build immov asset df possess grd billion fix properti asset make df slender fix asset grd million grd million figur equiti posit neg cover debt grd billion grd billion current figur properti asset slightli higher grd billion grd billion note contrast happen state guarante grd million loan favour pkt evid greek state requir df mortgag drapetsona fertilis factori immov properti imagin pkt guarantor df mortgag part abovement fix properti asset maintain demonstr greek author procedur case pkt guarante unwil offer secur state return state guarante grd million loan refer nbg notic charg df properti asset grd billion document produc greek author show mortgag registri certifi juli nbg charg amount pkt regist charg question relat properti asset df set time greek author explain grant financ pkt onward df nbg made basi financi credit criteria pure bank relat kind term interest rate secur loan grant work capit nbg appli respect compani creditworthi similar undertak consider legitim econom rational loan purpos grant work capit undertak realiti enabl settl current debt carri structur order improv posit plan fertilis factori close doubt bank institut made long term loan df letter novemb greek author quot guarante loan grd billion grd billion drapetsona factori loan amount nbg cover loss quot assert call detail commentari firstli impli loan state consent act guarantor compani fact greek author letter novemb loan grd billion made df januari date ministeri decis approv guarante issu text decis futur tens refer grant loan state quot loan grant servic accord nation bank nbg document septemb quot df obtain capit market state guarante curiou nbg wait januari date state guarante instruct quot term loan septemb point df exist date set novemb commiss find hard nbg account financi credit situat compani propos make loan bulk nbg client financi credit situat df bank nation bank speak account financi risk attach compani difficulti adjust lend term risk perfectli understand nbg reserv treatment df compani receiv state guarante remov risk creditor bank hard claim df problem obtain loan normal market term account show succe pai debt grd billion fell due payment year logic explan sought note balanc sheet auditor state grd billion cover state guarante mean short term debt bank repres payment due guarante state balanc sheet show df face difficulti repai bank loan due date repay grd billion debt state guarante arriv repres short term bank debt evid remain amount short term bank debt cover state guarante greek author put forward claim view commiss find greek author fail show df obtain loan cover oper loss guarante greek state result guarante question affect trade member state distort competit made fertilis factori cope oper difficulti face cut product capac state impos made imposs achiev suffici sale reach break point guarante consider imped natur restructur industri greec process place member state temporarili artifici aliv compani incap show profit irrevoc requir busi addit artifici keep pkt df run make imposs nation commun produc assum share market guarante consider constitut aid mean articl treati greek author unabl show procedur df obtain loan purpos cover oper loss state guarante primarili extrem difficult financi posit beneficiari compani evid emerg examin procedur overturn view state procedur launch guarante coincid amount guarante minu commiss amount loan paid order secur guarante privat individu continu engag loss make activ state guarante activ limit period time entail loss ow inabl achiev suffici sale reach break point understand circumst sharehold bank nbg prefer advanc loan df state guarante restructur compani capit case bank ran risk lose invest regard compani balanc sheet decis relat grant guarante commiss rule possibl substanti part state guarante loan obtain df activ order grant guarante provid state undertak pai nbg instal loan repaid month due date payment addit balanc sheet df overdu debt grd billion includ interest consist loan state guarante increas nfi capit debt nation electr board februari abg nfi princip sharehold increas compani equiti grd billion grd balanc sheet compani carri programm invest modernis plant view manufactur product greek author repres oper normal commerci oper invest programm involv instal mechan equip autom fill bag line build warehous store raw ancillari materi compani hope improv financi situat increas product greek author admit programm fail oper question mistaken choic abg conclud capit inject discuss state aid shown abg behav privat investor normal market condit principl appli determin state own undertak behav privat investor market condit contain commiss commun member state applic articl eec treati articl commiss direct eec transpar financi relat member state public undertak public undertak manufactur sector examin nfi account reveal compani question began show loss earli year balanc sheet commiss copi evid suggest abg investor expect satisfactori yield invest year compani posit deterior act greek author abg commiss detail rationalis plan drawn bank order restor nfi long term viabil shown abg invest produc return greek author copi studi drawn ministri industri product fertilis factori greec studi list nfi problem suggest number solut difficulti enumer includ fact part product unit shut stop oper fact upturn fertilis product sale low reach break point grd billion debt nation electr board call solut concern studi recommend maintain plant estim cost grd million modernis estim cost grd million solv ammonia procur problem improv sale figur domest market area access low transport cost reach agreement synel ensur volum sale lastli endeavour work agreement nation electr board requir compani pai debt entail increas price fertilis inevit compani busi difficulti end compani equiti posit continu bare posit grd million capit grd billion end neg approxim grd million end increas capit refer remain neg roughli grd million end equiti grd billion reason trend accumul loss financi year compani posit appar deterior hand receiv balanc sheet commiss copi articl law appli nfi articl board director conven gener meet month end trade year total equiti compani half nomin capit gener meet decid wind compani step middl abg wound nfi step restructur year novemb bank decid restructur capit subsidiari nfi capit inject suffici make major chang compani financi posit equival quarter accumul loss make improv equiti posit obviat applic articl compani equiti posit remain highli neg lastli cover differ compani current asset liabil contribut cover cost modernis plant estim greek author studi refer note abg invest programm greek author entail increas fertilis sale appar account remain point studi question note inform commiss possess purpos capit inject financ purchas raw materi modernis plant partial confirm found balanc sheet note product cost rose grd million compar reserv rose grd million period equip machineri grd million build construct roughli grd million interpret correctli argument view purpos capit inject alter compani structur rationalis expenditur attempt factori oper increas product case capit inject nfi abg make compani viabl commiss notifi rationalis measur kind sharehold adopt greek law guidelin report ministri industri failur addit measur reason compani bankrupt state bank abg allow nfi financi posit deterior take action year decis act action suffici restor compani viabil conclud bank behav privat investor normal market condit grd billion increas nfi capit regard state aid mean articl treati ii measur nation electr board secur payment monei ow nfi put grd billion includ interest greek author state creditor avail legal recours provid law debt relat consumpt electr nation electr board institut action nfi singl member athen court instanc context present proceed greek author state case heard decemb rule addit nation electr board greek court lodg applic interim protect measur nfi regist notic charg nfi properti grd billion nfi settl part debt period april decemb involv sum approxim grd million view act conclud nation electr board requisit step secur collect monei ow nfi commiss close procedur relat matter action synel procedur initi complain report synel control state bank abg inform continu pass commiss procedur initi complain made clear control partial previou decis relat aid synel commiss found control abg agricultur cooper associ context procedur greek author state synel privat undertak action fall scope articl ec treati fact synel supplier payment term depend amount fertilis purchas physic locat supplier conflict rational market distort competit complain refer li fact supplier pkt sell product loss confirm interest parti submit comment procedur maintain synel sell price nation market directli link price charg supplier commiss reserv investig point provis treati vi shown state aid df capit contribut nfi constitut state aid mean articl ec treati consid law compat common market aid grant undertak commiss notifi advanc violat articl treati aid found unlaw compat aid favour df aid measur form state guarante loan grd billion grd million commun rule state aid environment protect greek author aid measur question compat rule section section commiss make except gener rule approv oper aid reliev firm cost result pollut nuisanc except made field wast manag relief environment tax case aid compens extra product cost comparison tradit cost temporari principl degress provid incent reduc pollut introduc effici resourc quickli observ initi procedur greek author state letter date januari factori oper temporarili object state contribut meet fix oper cost environment reason state order perman reduct product greek author fix cost grd billion annum relat oper environment protect plant filter wast water process unit solid wast dispos grd million purchas essenti materi spare part short term mainten grd million staff cost grd million cost reduc cut product greek author compani reduc staff employe work reduc end word purpos aid unproduct compani state artifici viabil restructur part move reduc product environment reason final shut altogeth shutdown schedul place year time letter novemb greek author final shutdown juli order decis prefectur piraeu june letter purpos aid cover loss aris product cut order author enabl staff made redund gradual text decis grant state aid object loan guarante cover loss success financi year except invok greek author inapplic case fact author requir closur pollut product unit extra product cost comparison tradit cost commun rule requir maintain aid grant degress provid incent reduc pollut introduc effici resourc quickli cost reduc futur bring pollut method product plan introduc method case purpos aid cover compani fix oper cost addit cost aris pollut type activ view reduc gradual evid aid degress purpos cover compani fix cost case factori difficulti aris fact product cut order state ground pollut accompani reorganis compani activ account oper condit reorganis pointless plan time pkt set factori ceas oper complet year commun guidelin state aid rescu restructur firm difficulti greek author invok guidelin mention fail attempt restructur difficulti face drapetsona factori possibl refer indirectli set guidelin rule df pkt subsidiari set novemb pkt fertilis product busi pkt occupi develop real estat pkt owner plant rent df set novemb df publish account cover period januari decemb turnov achiev pkt march decemb appear df part pkt liabil asset circumst commiss doubt df assum undefin portion pkt liabil regard compani difficulti mean guidelin refer regard difficulti commiss consid altern condit assess aid compat met df inherit unspecifi part pkt financi burden continu show loss oper expenditur cover actual turnov add difficult situat df debt increas financi year df made loss grd billion approxim grd billion durat exist compani articl abovement law show posit net posit compani final wound august aid form state guarante consider regard rescu aid compat guidelin confin essenti run undertak cover part fix cost oper loss purpos recipi compani viabl case aid greatli exce time limit gener speak month draft rationalis measur guidelin question case guarante cover loan period half year instanc half time rationalis measur drawn rate commiss notifi effect lastli rescu aid except oper case oper repeat cover loss success financi year compat aid restructur aid point commiss notifi restructur plan enabl factori restor long term viabil inform greek author letter januari appear decis close factori oper good prefectur piraeu issu decis effect june decis issu letter refer state fact factori oper temporari basi expect shutdown oper year time greek author complain agre point object pkt develop land view build purchas land factori stand logic conjunct busi object pkt want land factori built make sens refer long term viabil undertak manag factori df undertak extrem parlou condit plan shut oper wind compani fact df hand receiv natur consequ condit undertak condit restructur plan make compani viabl submit commiss compli examin condit laid guidelin aid measur form guarante approv restructur aid oper aid aid consider regard region invest aid purpos carri product invest regard oper aid oper aid grant area state articl treati articl cover territori greec commun method applic articl region aid commiss accept oper aid condit aid limit time design overcom structur handicap undertak locat articl area ii aid grant promot durabl balanc develop econom activ lead surplu product capac sector commun level result commun sector problem origin region problem iii aid grant violat specif rule aid grant compani difficulti iv annual report aid appli commiss show total expenditur type aid sector aid relat aid design promot export member state exclud regard possibl appli commun guidelin state aid rescu restructur compani difficulti condit met doubt aid possibl promot durabl balanc develop econom activ born mind restructur deterior posit compani announc factori shut aid measur form guarante df cover loan grd billion million approv oper aid cover exempt laid articl treati exempt articl purpos promot execut import project common european interest aid consider allow exempt laid articl meet condit approv aid rescu restructur compani difficulti lastli elig exempt articl purpos promot cultur heritag conserv exempt laid articl treati allow aid grant individu consum make good damag caus natur disast except occurr aid question compat common market compat aid favour nfi state end financi year compani equiti posit posit grd million compar nomin capit grd billion end posit neg approxim grd million end increas capit refer remain neg grd million end net posit neg grd billion undertak question regard difficulti mean commun guidelin state aid rescu restructur compani difficulti capit inject grd billion regard restructur aid aid intend modernis plant view manufactur product artifici fertilis specif invest programm compris instal mechan equip autom load bag line construct warehous raw ancillari materi simpl refer fact purpos invest improv compani financi posit mean increas product forecast yield notifi commiss indic favour result abg expect subsidiari nfi greek author commun commiss copi compani annual product record put compani ceas oper juli commiss restructur plan restor compani state long term viabil reason period time basi realist assumpt futur oper condit df concern condit restructur plan restor viabil submit commiss met examin condit laid commun guidelin state aid rescu restructur compani difficulti sine qua guidelin compli aid allow exempt laid rule provid articl ground invok respect df aid approv oper aid ground exempt provid articl allow argument appli exempt provid articl aid compat common market vii commiss find greec unlawfulli appli aid df nfi violat articl treati aid incompat common market articl ec treati confirm judgment court justic european commun juli case commiss germani februari case deufil commiss septemb case commiss germani commiss requir member state recov recipi aid unduli grant aid measur question repeal aid paid recov greek author state guarante favour df reason state guarante aid element coincid amount guarante loan state procedur initi greek author recov amount df commiss amount loan paid compani secur state guarante deduct capit inject grd billion nfi greek state recov amount question compani adopt decis articl state guarante favour lipasmata drapetsona drapetsona fertilis ae cover loan grd billion grd million grant pursuant ministeri decis januari june constitut state aid mean articl treati capit inject grd billion agrotiki trapeza ellado agricultur bank greec subsidiari viomihania azotouhon lipasmaton nitrogen fertilis industri constitut state aid mean articl treati aid measur question found unlaw put effect prior notif commiss violat articl treati articl aid measur question incompat common market qualifi exempt provid articl treati articl greec measur recov aid refer articl recoveri lipasmata drapetsona effect deduct commiss equival sum guarante compani question requir pai order secur state guarante articl recoveri effect accord substant procedur requir greek law sum recov bear interest date aid disburs actual recoveri interest calcul basi refer rate determin grant equival region aid system greec articl month notif decis greec inform commiss measur compli articl decis address hellen republ brussel april commiss karel van miert member commiss oj footnot oj ref fek fek fek offic offici public european commun offic offici public european commun oj fertilis week march nfi put sale receiv begin fertilis week june letter greek author date novemb oj footnot oj oj ecr ecr ecr