98/276/EC: Commission Decision of 18 November 1997 concerning counter-guarantees given by the German Federal State of Sachsen-Anhalt to cover guarantees of the Bürgschaftsbank Sachsen-Anhalt GmbH in favour of companies in difficulty (Only the German text is authentic) (Text with EEA relevance)

• Articles: 4

Article 1

The aid programme Sonderbürgschaftsprogramm Liquiditätssicherung is illegal for having been introduced in breach of Article 93(3). The programme is incompatible with the common market.

Article 2

Germany shall recover all aid granted pursuant to the aid programme. Repayment shall be made in accordance with the procedures and provisions of German law, plus interest payable at the usual reference rate used in the assessment of regional aid schemes, and running from the date on which the aid was granted.

Article 3

Germany shall inform the Commission, within two months of being notified of this Decision, of the measures taken to comply therewith.

Article 4

This Decision is addressed to the Federal Republic of Germany.

Done at Brussels, 18 November 1997.

For the Commission

Karel VAN MIERT

Member of the Commission

(1) OJ C 368, 23. 12. 1994, p. 12.

(2) OJ C 35, 4. 2. 1997, p. 10.