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GREECE the Odyssey to Reinvention Photo: Shutterstock / Nick Pavlakis
Sponsored Report GREECE THE ODYSSEY TO REINVENTION Photo: Shutterstock / Nick Pavlakis GREECE The odyssey to reinvention After a successful conclusion to the Eurogroup’s second review of Greece’s current bailout program, coupled with a major economic transition and substantial regulatory reforms, the country is rapidly reinventing itself. Everything points towards 2017 being the year of the ‘Hellenic Turnaround’ Photo: Shutterstock / Olimpiu Pop All signs suggest that the Greek kets,” according to Minister of Fi- politically.” preneurship, foreign investment economy is on its way back to nance Euclid Tsakalotos. When President Barack Obama and a productive model that adds growth, after seven years of reces- visited Greece in 2016, he said “the value and is export orientated. In sion, during which the country lost Wide-ranging reforms world, I don’t think, fully appreci- 2016, exports grew by 10%, while more than a quarter of its GDP. As part of the original 2015 bailout ates the extraordinary pain these investments increased 12% and, 2017 has already seen its economy program, the Greek government reforms have involved, or the tre- according to Odisseas Athanas- grow by 0.4% in the first quarter recognized that it had to restore mendous sacrifices that you, the siou, CEO of property developer and the country’s government is and safeguard fiscal sustainability, Greek people, have made,” a senti- Lamda Development, “there has forecasting increases of close to 2% implement structural policies for ment echoed by Greek Prime Min- been a substantial -
Mr. Nikos Dendias Minister of Foreign Affairs 1St Vas. Sofias Av. 106 71 Athens, Greece
EUROPEAN COMMISSION Brussels, 18.01.2021 C(2021) 170 final In the published version of this decision, PUBLIC VERSION some information has been omitted, pursuant to articles 30 and 31 of Council This document is made available for Regulation (EU) 2015/1589 of 13 July 2015 information purposes only. laying down detailed rules for the application of Article 108 of the Treaty on the Functioning of the European Union, concerning non-disclosure of information covered by professional secrecy. The omissions are shown thus […] Subject: State Aid SA.54273 (2019/N) and SA.58386 (2020/FC) – Greece E65 Motorway concession – Trikala-Egnatia (North section) Excellency, 1. PROCEDURE (1) On 6 February 2019, Greece pre-notified to the Commission investment aid, for the construction of the North section of the E65 Motorway, and operating aid, for the operation and maintenance of the same motorway section. The Commission registered this pre-notification under the case number SA.53438 (2019/PN). On 12 February 2019, a meeting took place between the Commission services and the Greek authorities. (2) On 2 May 2019, the Greek authorities notified to the Commission aid in favour of Odos Kentrikis Elladas S.A. (“Kentriki Odos S.A.” or “the concessionaire”) for the construction, operation and maintenance of the Trikala-Egnatia section (“the North section”) of the E65 Motorway. (3) On 26 June 2019, after an initial examination, the Commission services sent a first request for information, to which the Greek authorities replied, after obtaining an extension of the deadline, with letters of 27 August 2019 and 13 September 2019. -
Practical Guide to the Production of Audiovisual Works
BRIEF PRACTICAL GUIDE to the production of audiovisual works BRIEF PRACTICAL GUIDE to the production of audiovisual works THE REGION OF EPIRUS AND THE EPIRUS FILM OFFICE Breathtaking mountain peaks. Picturesque villages oozing tradition. Golden beaches with crystal clear and exotic waters. Awe-inspiring gorges, traditional stone bridges, natural and man-made attractions blending harmoniously in a green landscape. These are the sights a visitor can see and experience in the Region of Epirus, colored and expressed differently, depending on the season. Hence, apart from being a popular destination, the Region of Epirus is the proper setting for audiovisual productions. In Epirus you can find everything you want for movies of all genres and styles. What makes it possible are the natural environment and its divergences, the rich history of the area and the imprint it has left behind, as well as the architecture and aesthetics in the urban centers and in the smaller settlements and villages of all the regional units. This contrast and variety make the area an attractive destination for audiovisual productions as sceneries can be found for any kind of film. The exotic scenery on the beaches of Thesprotia, the fog of Ioannina, the picturesque Parga and the famous bridge of Arta are just a few classic examples. Another crucial and important element is the accessibility in the area, which facilitates such ventures. One can reach the Region of Epirus by air, road and sea. The largest airport in the area is the national airport “King Pyrros” located in Ioannina. “King Pyrros” serves some international flights as well. -
Greek Enter- Adequate Funds from the NSRF 2014-2020
Montaz 2013:Layout 1 12/4/2013 2:19 ìì Page 1 THE ATHENS CHAMBER OF COMMERCE AND INDUSTRY Trade with Greece ANNUAL BUSINESS, ECONOMIC AND POLITICAL REVIEW No 44 2013 Although tough, 2013 2013 brings the hope of Greece’s return to growth Trade with Greece Greece with Trade ‘‘Our country is currently leaving the worst of the recession behind’’ Antonis Samaras, Prime Minister of Greece Montaz 2013:Layout 1 12/4/2013 2:22 ìì Page 2 02-03 editorial_2013:01-02 theseis proedrou 21-29.qxd 12/4/2013 2:53 ìì Page 1 editorial Although tough, 2013 brings the hope of Greece’s return to growth Constantine Michalos, President of the ACCI We are in the first months of a new year, a year that will be crucial as far as Greece’s effort to exit the crisis is concerned. The current reality is twofold. he positive side includes developments In this context, the Athens Chamber of T such as the achievement of the 2012 Commerce and Industry has made specific pro- deficit target, the improvement of inter- posals in regard to policies, reforms and actions national sentiment towards Greece and the that must be implemented or, at least, expedited: reduction of uncertainty. But there is also another side to this coin: That of Liquidity: the price that society and the market are still pay- ● Acceleration and completion of the banking ing; the side of the recession, which is bound to system’s recapitalization. persevere for a fifth year in a row; the side of ● Fast and effective completion, within the year, company shutdowns and a jobless rate that of the procedure regarding the repayment of approaches 27%. -
Greece: ECU 130 Million from the Cohesion Fund to Support Projects in the Fields of the Environment and Transport Infrastructure
IP/97/750 Brussels, 11 August 1997 Greece: ECU 130 million from the Cohesion Fund to support projects in the fields of the environment and transport infrastructure The Commission has approved assistance to Greece from the Cohesion Fund worth ECU 56 million to support projects in the field of the environment and ECU 74 million for projects in the field of transport infrastructure. The environmental projects have a total eligible volume of ECU 67.6 million, part- financed at either 80% or 85% by the Cohesion Fund, i.e. ECU 55.6 million. Specifically, the projects approved involve: water supply, waste-water removal and a biological treatment plant at Ptolemaida, water supply and external aqueduct at Yannitsa, overhaul of solid-waste disposal at Ano Liossia, coastal protection works along the low coastline of Salonika, Khalastra and Kalochorio,·increased capacity for the aqueduct at Mornos and water supply for the city of Ioannina. The projects approved in the field of transport are to receive ECU 74 million from the Cohesion Fund, i.e. 85% of eligible total volume, estimated at ECU 87.1 million, and consist of: ring road at Patras and various section of the Via Egnatia. The projects in detail. • Water supply, waste-water removal and biological treatment plant at Ptolemaida This project in Macedonia is designed to complete the sewage system of the city (pop. approx. 40.000) and install a tertiary treatment phase at the sewage treatment plant. The project also comprises some 115 000 metres of water- supply piping and two pumping stations. The total eligible volume of the project is ECU 7.4 million and the aid rate from the Cohesion Fund is 80%, which represents a subsidy of ECU 6 million. -
Jaspers Annual Report 2012
2012 Jaspers Annual Report European Investment Bank 98 -100, boulevard Konrad Adenauer L-2950 Luxembourg 3 (+352) 43 79 – 1 5 (+352) 43 77 04 www.eib.org – U [email protected] Jaspers Annual Report 2012 www.jaspers-europa-info.org Jaspers Annual Report 2012 © EIB – 06/2013 – QH-AN-13-001-EN-C – ISBN 978-92-861-1760-2 – ISSN 1831-3086 – doi:10.2867/24606 – EIB GraphicTeam The EC-1 urban revitalisation project in Lodz, Poland comprises the refurbishment of a power station to develop it into a cultural facility including a science activity centre. In 2012 JASPERS helped resolve key issues during project preparation, reviewed the feasibility study, the EIA and the grant application prior to submission to the European Commission. Contents 4 Activity report 6 Overview 8 Institutional issues 10 Organisational development 14 Operational activities 18 Detailed commentary by sector 29 Financial information 29 The budget for 2012 29 Income and expenditure and payments received 31 Annexes 32 Human resources as at 31 December 2012 33 Status of JASPERS assignments by country and by sector, 31 December 2012 34 Detailed list of assignments completed in 2012 37 List of JASPERS-supported major projects approved by the European Commission in 2012 38 Funding from the European Commission and national budgets for JASPERS-supported applications approved in 2012 39 Summary of assignments completed since 2006 39 Summary financial statement 2012 40 JASPERS’ activity in Croatia 2012 Jaspers Annual Report 1 Sighisoara-Coslariu railway line, Romania Between 2006 – when JASPERS began operations − and end-December 2012, 652 assignments had been completed and as at 31 December 2012, 347 assignments were receiving assistance in all EU beneficiary countries (the 12 Central and Eastern European EU Member States) and sectors of activity (roads, air, maritime and public transport, knowledge economy and energy, water and waste). -
Innovation for a Sustainable World 2017 Annual Report Annual 2017
INNOVATION FOR A SUSTAINABLE WORLD 2017 ANNUAL REPORT ANNUAL 2017 1 cours Ferdinand de Lesseps 92851 Rueil Malmaison Cedex – France Tel.: +33 1 47 16 35 00 Fax: +33 1 47 51 91 02 www.vinci.com VINCI.Group VINCI 2017 ANNUAL REPORT @VINCI CONTENTS 01 2017 highlights 20 Profile 22 Interview of the Chairman and CEO 24 Corporate governance 26 Direction and strategy 30 Stock market and shareholder base 34 Sustainable development 44 CONCESSIONS 46 VINCI Autoroutes 58 VINCI Airports 68 VINCI Highways 72 VINCI Railways 74 VINCI Stadium 76 CONTRACTING 78 VINCI Energies 90 Eurovia 102 VINCI Construction 114 VINCI Immobilier 117 GENERAL & FINANCIAL ELEMENTS 118 Report of the Board of Directors 228 Report of the Vice-Chairman and Lead Director of the Board of Directors 230 Consolidated financial statements 305 Parent company financial statements 323 Special report of the Statutory Auditors on regulated agreements and commitments 326 Persons responsible for the registration document 328 Cross-reference table for the registration document 330 Cross-reference table for the annual financial report 331 Cross-reference table for workforce-related, environmental and social information 333 Glossary In accordance with Article 212-13 of the General Regulation of the Autorité des Marchés Financiers (AMF, the French securities regulator), this document comprises the registration document filed with the AMF on 26 February 2018 under the number D.18-0076. It may be used in support of a financial transaction only if it is supplemented by a prospectus on the transaction officially approved by the AMF. The signatories of this document, prepared by VINCI, are responsible for the information contained therein. -
Evaluation and Future of Road Toll Concessions
Evaluation and future of road toll concessions Presented by PricewaterhouseCoopers Advisory S.p.A. to ASECAP 2014 Table of Contents 1 Introduction 5 1.1 Aim of the Study 5 1.2 Sources of information 5 1.3 Structure of the Study 5 2 Description of the typical toll concession scheme 7 2.1 What is a road toll concession 7 3 Description of the ASECAP network 10 3.1 Presentation of ASECAP 10 3.2 Concession models applied to networks operated by ASECAP members 11 3.3 Value added of the road toll concession 22 3.4 Conclusions 38 4 Issues and Risks 40 4.1 Risk allocation between Concession Authority and Concessionaire 40 4.2 Unforeseen events affecting risk allocation 45 4.3 Aspects affecting social acceptability of toll systems 49 4.4 Cases of evolutions/divergences in the interpretation of the contracts 50 4.5 Conclusions 52 5 Forms of funding 54 5.1 Alternative forms of road tolling 54 5.2 Overview of the financial instruments to support transport infrastructure in Europe 59 5.3 Conclusions 62 6 The European legislative framework affecting the concession sector 64 6.1 EU legislative initiatives in the transport sector 64 6.2 State aid legislation 69 6.3 Conclusions 70 7 Conclusions and recommendations 71 7.1 Advantages of road toll concession scheme 71 7.2 Recommendations 72 Annexes 73 Annex I. Application of the directive 1999/62/EC in the ASECAP members’ network 73 Annex II List of sources 75 Evaluation and future of road toll concessions / Final Report // 3 “ The Concession Model represents the most flexible tool to finance, build and manage road infrastructure ” Key figures* 26.660.884 ETC subscribers 48.265,01 Km in operation 187 Companies 26 billion Toll revenues 27.346 ETC lanes *Source: ASECAP 2014 Statistical Bulletin 4 // Evaluation and future of road toll concessions / Final Report 1. -
Ahif P O L I C Y J O U R N
AHIF P O L I C Y J O U R N A L Spring 2014 Clash of Eagles with Two Heads: Epirus in the 21st Century Panayiotis Diamadis 2013 study into popular opinions in Hellas and Albania produced a series of A fascinating results. It found that while 18.5 per cent of Albanians viewed Greece as the number one threat to their country (pushing Serbia into second place for the first time), so few Greeks saw Albania as a threat that the finding fell within the range of statistical error and was not measured.1 The Epirus issue has remained a smouldering (rather than a flaming) issue for more than a century. It is one that will hopefully never flare into a Skopje-sized problem. At its core is control of the Epirus region. While Epirus is one of the European Union’s most underdeveloped regions,2 its geostrategic importance into the 21st century should not be underestimated. Its coastline controls access to the Adriatic Sea, is suspected of having substantial deposits of petroleum and natural gas, and is being developed as a key corridor for the transport of Caspian Sea natural gas to Italy, the European Union’s largest consumer. The Epirus issue is not a regular feature of newspaper front-pages, nor is it widely-known as a Εθνικό Θέμα (National Issue) in diaspora circles. This is despite the issue of Epirus being around for as long as its more famous Macedonian counterpart. Examination of the status quo, and the modern history of Epirus suggests that bringing Albania into the European Union may prevent escalation of the Epirus issue into another FYROM3-size crisis.