Seen against the background of the reduction in workforce, the closure of mining capacity and the digressive trend of granting of production aid, the information provided by the Spanish authorities has the Commission that the costs to be covered are not too high in relation to the intensity of the restructuring process.

However, up to the date of this Decision nothing has happened to the Commission that the renewed privatisation effort can reach a positive conclusion in the near future and in accordance with the Guidelines.

Until the decision was issued, however, no evidence the Commission that the re-launched privatisation effort could be concluded positively in a short period of time and in line with the Guidelines.

Accordingly, the measures in question cannot be declared compatible with the common market under Article 87(3)(b) EC.

Thirdly, with regard to the capital injection from ARP (measure 61 in part B of the Annex to the decision to initiate the formal investigation procedure), the comments provided by Poland and third parties on the decision to initiate the formal investigation procedure have not the Commission that this measure does not constitute new aid.

The information provided has the Commission that the right prices of coal have been used in the calculation of the revenues.

However, the explanations given by the company were unsatisfactory and could neither the Commission that it did not submit misleading information nor resolve the doubts about the integrity of the remaining data submitted by the company.

The explanations provided by Italy (viz. point 31 above) with regard to the plan accompaniment costs have the Commission that the planned fees are appropriate and have dispelled any doubts that the sums paid to the Moncaro cooperative, which is to perform the relevant services, may be viewed as aid.

In the Commission’s view, the Member States concerned cannot try to dispute that aid is being provided for DMA’s activities and the new ‘mortgage lending structure’ (referred to as ‘development bank’ in this Decision and the notifications) by claiming that such an undertaking will not exist, while at the same time [140] using the term new mortgage lending structure or development bank, which corresponds to an undertaking, in order to the Commission that the operation relating to DMA complies with the rules on State aid.

Moreover, the information provided by the German authorities has not the Commission that the systemic effects that might have resulted from a bankruptcy of Sachsen LB could have reached a size constituting ‘a serious disturbance in the economy’ of Germany within the meaning of Article 87(3)(b) [36].

Companies in need of capital have to potential investors that, the long term, they will be able to earn at least the average rate of return that can be expected of companies with a comparable level of risk and operating in the same economic sector.

Cégétel acknowledges that France Télécom has not enjoyed EPIC status since 1996, but points out that, in reality, the guarantee has not disappeared inasmuch as the state authorities have sought, through their repeated declarations, to the markets that France Télécom would retain, come what may, the support of its reference shareholder and that, if necessary, the State would help the operator to meet its maturities.

In order to the that the Interim Government is fully prepared to follow up on the commitments given, it is essential that early and substantial progress is made in the fulfilment of the agreed commitments.

In order to the that the Interim Government is fully prepared to follow up on the commitments given, it is essential that early and substantial progress is made in the fulfilment of the agreed commitments.

In order to the that the Interim Government is fully prepared to follow up on the commitments given, it is essential that early and substantial progress is made in the fulfilment of the agreed commitments.

In order to the that the Interim Government is fully prepared to follow up on the commitments given, it is essential that early and substantial progress be made in the fulfilment of the agreed commitments.

In order to the that the Interim Government is fully prepared to follow up on the commitments given, it is essential that early and substantial progress be made in the fulfilment of the agreed commitments.

In order to the that the interim government is fully prepared to follow-up on the commitments given, it is essential that early and substantial progress is made in the fulfilment of the agreed commitments.

These three factors the Land that Helaba would be best suited as a banking partner in realising the objectives of the Special Fund Law.

The Commission therefore considers that the State guarantee for members of Arcofin was planned by the Belgian authorities in order to Arcofin to participate in Dexia’s recapitalisation.