The prospect that, to the VPP, a favourable outcome to the case might be secured for the Sardinian plant, a prospect which was created by the Commission and not dissipated in a sufficiently timely manner, may have altered Alcoa’s perception of the risk of recovery of the aid to the Sardinian plant following the opening of the proceedings, and this may in turn have influenced its business strategy in terms of investments and the siting of activities.

to the state aid, the companies will undertake an otherwise loss-making project consisting in the construction and sale or rental of apartments and commercial premises.

The complainant argued that to the State aid and State ownership, FBN and ABN AMRO N (including their subsidiaries such as MoneYou and Mees Pierson) offered unsustainably high interest rates on individual savings and deposit accounts, thereby destabilising the Dutch banking market.

As regards […] (*), the project […] (*), which related to innovative catalysts […] (*) allowed new pathways to be explored to the State aid, whilst the project […] (*), which aimed to explore the limits of the technology (variation in loads in particular) in order to […] (*), succeeded in enlarging its spectrum beyond the existing performances.

In its complaint, TF1 raised this issue, claiming that to the State aid they receive, France 2 and France 3, acting ‘outside the profitability constraints of their competitors, are able to offer introductory prices and artificial reductions on their advertising slots or sponsorship activities in order to retain the custom of advertisers’.

Furthermore, the programmes of France Télévisions, the broadcasting of which can be maintained to the state support, are picked up in other Member States, such as Belgium and Luxembourg.

Further indication of the appropriate market rate can be derived from Chapter 17.3(2) of the Guidelines which identifies the amount of aid, i.e. the cash grant equivalent, for an individual guarantee, as the difference between the market rate and the rate obtained to the State guarantee after any premiums have been deducted.

As for the amount of the state aid involved in such guarantee, point 3.2 of the notice on guarantees establishes that the cash grant equivalent for an individual guarantee should be calculated in the same way as the grant equivalent of a soft loan, the interest subsidy representing the difference between the market rate and the rate obtained to the state guarantee after any premiums paid have been deducted.

Therefore, since ETVA run no risks ( to the State counter guarantees) while receiving a fee of 0,4 % per quarter, this measure would have been acceptable to a market economy investor in similar circumstances.

Indeed, it is to the latter guarantee that a private investor accepted to purchase HSY and that the civil activities of HSY were thereby saved.

The balancing of the Cooperativa Agricola Moderna Scrl’s accounts was artificial, and was achieved thanks to the cooperative members’ absorbing a substantial proportion of the losses by accepting lower rates of remuneration [8] for the production from their land and to the failure to set aside the necessary depreciation fund reserves, which – although it is permitted under Italian law [9] – demonstrates that the undertaking was unable to finance the normal process of renewing production equipment from its own cash flow.

The ‘Kaki Ribera del Xúquer’ also has a characteristic deep red colour and a sweet flavour at maturity, which is reached at an earlier stage to the prevailing conditions in the area.

The French authorities’ proposal therefore has value only as an additional means of clarification for creditors since the proposal would incidentally remove any risk of the State’s strict liability being incurred to the exception of accepted risk.

Though for a certain period the Union industry had been able to offset the negative effects of this pressure to the exceptionally positive market conditions in the years of 2007 and 2008, this was no longer possible when the economic crisis substantially reduced the level of demand.

to the continued subsidisation, the prices of the imports would most likely undercut the Union industry prices.

Much progress has been made in recent years towards the establishment of the CEAS to the introduction of common minimum standards.

Much progress has been made in recent years towards the establishment of the CEAS, to the introduction of common minimum standards.

In any event, the annual accounts of AGVO and EVO indicate that EVO could maintain its presence on the market, despite its precarious financial situation, only to the support of the City [11].

In its comments of 11 April 2003, Bouygues Telecom points out that the structure of the mobile telecommunications market in France is due to a capitalistic investment strategy (together with an aggressive commercial strategy) carried on by Orange to the detriment of its operational profitability, to the support granted to it by the State through France Télécom, notably via the aid at issue in the present case.

On the subject of France Télécom, the document states that: ‘ to the State's resolute support and to the appointment of Thierry Breton, France Télécom has been more than just saved from a life-threatening situation.’