Traduction de «rapporto di indebitamento » (Italien → Anglais) :

downside leverage

employment relationship under public law

termination of employment with immediate effect | dismissal with immediate effect | dismissal without notice

establishment of an employment relationship

debt ratio | debt-to-GDP ratio | general government debt ratio | government debt ratio | public debt ratio

report analysis results | use data reporting

legislative-executive relations [ executive-legislative | legislative-executive ]

create a bond with the media | develop a relationship with the media | establish a media relationship | establish relationship with the media

interface between buildings, people and the environment | interaction between buildings, people and the environment | relationship between buildings, people and the environment

Within the time-frame put forward in the projections submitted by the French authorities, the foreseeable reduction in the leveraging effect and, in any event, the low impact of the amount of tax on the debt ratio would have led a prudent private investor in a market economy either to reduce the profitability prospects of its investment or to not consider that the equity investment equivalent to the amount of tax was justified by the need to improve the debt situation of EDF in 1997.

While it is reasonable to suppose that a prudent private investor in a market economy would have taken into account the effects of the reduction in EDF's debt ratio, it must be noted that the advantage to EDF of lower-cost borrowing on account of an improved debt/equity ratio is referred to in general terms in some of the documents furnished by France (recitals 101 and 105) and EDF.

However, none of the documents mentions the advantages and the profitability for the state as shareholder of a reduction in EDF's borrowing costs or a lower debt ratio.

6. Notes the ESRB’s statement of views of 9 December 2011 containing its reservations as regards a financial indicator, in which it states that the scoreboard ‘should include short-term liabilities (the sum of liabilities maturing within one year) for the unconsolidated financial sector, net of bank deposits, as a share of total liabilities’ and that ‘this indicator should be preferred to indicators based on flow-of funds equity measures, such as leverage or gearing ratios, because since equity is estimated at market values it is very sensitive to movements of the stock market’; reminds the Commission that Article 4(5) of the MIP Regula ...[+++]tion stipulates that ‘the work of the ESRB shall be taken into due consideration in the drafting of indicators relevant to financial market stability’;