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Competition Policy

Information request: Availability of short term export credit insurance for exports to Greece (2015)

Policy field

Competition: State aid

 

Target group

Member States, credit insurers and other interested parties

 

Consultation period

From 27.4.2015 to 24.5.2015

 

Objective of the consultation

As a consequence of the difficult situation in Greece, a lack of insurance or reinsurance capacity to cover exports to Greece was observed in the years 2012-2014. This led the Commission to amend the Communication of the Commission to the Member States on the application of Articles 107 and 108 of the Treaty to short-term export-credit insurance (Communication on short-term export-credit insurance) by temporarily removing Greece from the list of marketable risks countries in 2013, in 2014 and in the beginning of 2015. The most recent modification is due to expire on 30 June 2015.

The Commission shall determine whether the current market situation justifies the expiry of Greece's removal from the list of marketable risk countries as of 1 July 2015, or whether a prolongation is needed.

In order to establish the availability of sufficient private capacity the Commission invites Member States, credit insurers and other interested parties to submit the following information:

  • (a) Private credit insurance capacity: availability of credit insurance from private insurers in all Member States during the period December 2014 – March 2015 (changes in the private capacity, withdrawals from or entries of private credit insurers to that market), data on the exposure to Greece per private insurer, per Member State for the same period (number of requests, acceptance ratio, total insured turnover, and average premium charged).
  • (b) Activity of insurers acting on behalf or with State guarantee or the State itself in provision of short-term credit insurance for exports to Greece during the period December 2014 – March 2015: availability of credit insurance in all Member States, number of requests, acceptance ratio, total insured turnover, and average premium charged in Member States concerned.
  • (c) Sovereign sector ratings: changes in Greece's credit ratings for the last six months.
  • (d) Corporate sector performance in Greece (e.g. insolvencies ratio during the period December 2014 – March 2015, forecasts for the remaining 2015).
  • (e) Other relevant data and information.

 

How to submit your contribution

Please submit your contribution in an electronic format.
e-mail: stateaidgreffe@ec.europa.eu

Please always indicate the reference number in your correspondence: HT.4524

Due to the confidential nature of the information sought received contributions will not be published.
It is important to read the privacy statement attached to this consultation for information on how your personal data and contribution will be dealt with.

 

Contact details

Directorate-General for Competition – Unit D5 State Aids III - Task Force Financial Crisis
For any questions please contact: Ms Dimitra BOURNA (00 32 2 29 88379; e-mail: Dimitra.BOURNA@ec.europa.eu) or Mr. Olivier Philips (00 32 29 61480; e-mail: Olivier.PHILIPS@ec.europa.eu ).