Traduction de «Fonds d'avances remboursables » (Français → Anglais) :

Under paragraph 4 of Article 33, FOGASA is required to subrogate itself to the rights and actions of workers in order to obtain repayment of the sums advanced.

However, while Airbus has received repayable financing, Boeing is collapsing under the weight of funding from different countries, and particularly under the enormous weight of military research.

The Commission takes these comments to mean that France disputes the idea that AFR was unable to obtain funds on similar terms on the credit market (which amounts to disputing that the repayable advances conferred an advantage on AFR) and a fortiori that AFR was a firm in difficulty within the meaning of the Guidelines at the time the repayable advances were granted.

The Commission also considers that AFR would have been unable to obtain funding on such favourable terms on the private credit market and, therefore, that the repayable advance constitutes State aid.

While this state of affairs is not Europe’s responsibility, Airbus’ status as a flagship and a symbol of European and world industry does mean that a response is expected from Europe, which should say ‘yes’ to the injection of public capital into these businesses, ‘yes’ to repayable advances; ‘yes’ to loans for research and development; ‘yes’ to taking into account the difficulties presented by the EUR/USD exchange rate and ‘yes’ to reforms of business governance and of shareholders’ agreements. For our tools of intervention, we must use the EIB and the Globalisation Adjustment Fund. At present, it is the skills of its workers that ass ...[+++]ure the company of a future, so let us do likewise through our support for them.

where the electronic money institution carries out one or more of the activities listed in Article 6(1)(e) and it is unknown in advance what proportion of funds is to be used as electronic money, all funds requested by the electronic money holder shall be redeemed.