(2004/C 84 E/0154)

WRITTEN QUESTION P-3930/03

by Alexandros Alavanos (GUE/NGL) to the Commission

(16 December 2003)

Subject:   Retention of privileges by the Agricultural Bank of Greece

Under Article 26(4) of N 1914/1990, ‘all the special arrangements which apply to the Agricultural Bank of Greece, with particular reference to its substantive and procedural privileges, to its immunities in respect of tax and other matters, to its debt instruments, to the guaranteeing of its debts and in general to its legal personality as an entity possessing rights and subject to obligations’ remain in force and are applied unchanged even following the conversion of the Agricultural Bank of Greece (ATE) into a limited liability company. On the basis of this provision the ATE, in its transactions with its customers, makes use of the privileges granted to it by Articles 8 — 15 and 34(8) of N 4332/1929, under which the legal, procedural and substantive guarantees for those dealing with the ATE, and in particular its debtors, are set aside. The Commission has also received a complaint on this subject from the firm Tipopiitiria Thivas A.E. (reply from the Agriculture Directorate-General No 31427/24.11.2003).

Since the retention and application by the ATE of the above-mentioned privileges, which is contrary to Community law, is onerous for those doing business with it and deprives them of all rights of defence, what does the Commission intend to do to put a stop to the violation of the rights of those dealing with the ATE and to eliminate the distortion of competition conditions with respect to other credit institutions?

Answer given by Mr Bolkestein on behalf of the Commission

(26 January 2004)

The Commission confirms that it has just received a complaint concerning the Agricultural Bank of Greece and therefore is conducting a detailed investigation of the problem raised by the Honourable Member and will inform him of the outcome as soon as possible.