27.11.2019

Official Journal of the European Union

C 401/3

COMMUNICATION FROM THE COMMISSION

amending the Annex to the Communication from the Commission to the Member States on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to short-term export-credit insurance

(2019/C 401/03)

I. Introduction

(1)

The Communication from the Commission to the Member States on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to short-term export-credit insurance (1) (‘the Communication’) stipulates in point 13 that State insurers (2) cannot provide short-term export-credit insurance for marketable risks. Marketable risks are defined in point 9 as commercial and political risks with a maximum risk period of less than two years on public and non-public buyers in the countries listed in the Annex to that Communication.

(2)

Because of the lack of private credit insurance or reinsurance capacity to cover exports to Greece, the Commission amended the Communication by temporarily removing Greece from the list of marketable risk countries in 2013 (3). This modification has been prolonged several times since (4). The last prolongation is due to expire on 31 December 2019. Consequently, as of 1 January 2020, Greece would be considered as a marketable risk country.

(3)

In accordance with point 36 of the Communication, the Commission started to review the private credit insurance and reinsurance capacity to cover exports to Greece several months before the expiry of the last modification to determine whether the current market conditions justify Greece to be again on the list of marketable risk countries as of 1 January 2020, or whether the market capacity is still insufficient to cover all economically justifiable risks, so that a prolongation of the exemption from the list of marketable risk countries is needed.

II. Assessment

(4)

By virtue of section 5.2 of the Communication, the Commission’s assessment is based on the criteria laid down in point 33: private credit insurance capacity, sovereign rating and corporate sector performance (in particular insolvencies).

(5)

When determining whether the lack of sufficient private capacity to cover all economically justifiable risks justifies the prolongation of the temporary exemption of Greece from the list of marketable risk countries, the Commission consulted and sought information from Member States, private credit insurers and other interested parties. On 23 September 2019, the Commission published an information request on the availability of short-term export-credit insurance for exports to Greece (5). The deadline for replies was 18 October 2019. The Commission received 22 replies from Member States and no replies from other interested parties.

(6)

The information submitted to the Commission in the context of the public information request did not substantiate that there would be contraction of private credit insurance capacity for exports to Greece. State insurers registered a decrease in the number of credit insurance policies for exports to Greece, which suggests that there is sufficient availability of private insurance. Among the Member States other than Greece, only five explicitly asked for a prolongation of the current exclusion of Greece from the list of marketable risk countries, while three others indicated that Greece should be included back into the list of marketable risk countries. The other 13 replies did not take a firm position on this matter. Most notably, Greece itself expressed the strong wish to be reinserted in the list of marketable risk countries, given that the Greek economy has lately been on a path of steady growth.

(7)

According to the most recent macroeconomic indicators, Greece is experiencing an economic recovery which is expected to continue in the near future. After almost a decade of contraction and stagnation, the economy started growing again in 2017, with real GDP growth estimated at 1,8 % for 2019 and with labour market conditions continuing to improve. Growth continued in the first half of 2019, while the specific composition of Greek exports has cushioned the economy from the deteriorating situation in its export markets. The ongoing recovery is also mirrored by positive developments in the labour market where unemployment rates continued to decline, reaching 16,7 % in August 2019. These are forecast to decrease further over the next years according to the 2019 Autumn Economic Forecast of the European Commission (6).

(8)

Regarding public finances, government bond yields have dropped significantly, with 10-year yields declining from around 3,4 % in May to 1,5 % in September 2019, amid a decline in both risk-free rates and country spreads — signalling diminished risk attached to the investment in Greek government bonds.

(9)

The situation regarding Greek sovereign ratings has improved substantially since the crisis and the outlook is considered stable or positive by the rating agencies. Nevertheless, Greek sovereign bonds are still rated below investment grade. There have been no negative developments regarding credit ratings of the sovereign sector in Greece in the past 6 months. Ratings are generally expected to improve further as economic growth continues.

(10)

The corporate sector performance has not deteriorated in the past 6 months. The share of non-performing business loans (‘business NPLs’) has been declining since 2017 but remains high at 42,6 % in Q2 2019 due to the high starting level and the general loan contraction. The total amount of business NPLs is decreasing faster (-16 % in Q2 2019 compared to same quarter of previous year) and is expected to decrease further due to the NPL securitisation scheme ‘Hercules’ that was approved by the Commission in October 2019. Credit standards for the corporate sector remained unchanged in the first quarter of 2019 and are expected to remain unchanged in Q2 according to the bank lending survey.

(11)

Against this background, taking into account the outcome of the public consultation and, in particular, the contribution of Greece, as well as overall signs of improvement in the Greek economy and positive forecasts, the Commission decides to include Greece back into the list of marketable risk countries as of 1 January 2020.

AMENDMENT TO THE COMMUNICATION

(12)

The following amendment to the Communication from the Commission to the Member States on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to short-term export-credit insurance will apply from 1 January 2020:

—

the Annex is replaced by the following:

‘List of marketable risk countries:

Belgium	Cyprus	Slovakia
Bulgaria	Latvia	Finland
Czechia	Lithuania	Sweden
Denmark	Luxembourg	United Kingdom
Germany	Hungary	Australia
Estonia	Malta	Canada
Ireland	Netherlands	Iceland
Greece	Austria	Japan
Spain	Poland	New Zealand
France	Portugal	Norway
Croatia	Romania	Switzerland
Italy	Slovenia	United States of America’.

(1) OJ C 392, 19.12.2012, p. 1.

(2) A State insurer is defined by the Communication as a company or other organisation that provides export-credit insurance with the support of, or on behalf of, a Member State, or a Member State that provides export-credit insurance.

(3) OJ C 398, 22.12.2012, p. 6.

(4) In 2013, OJ C 372, 19.12.2013, p. 1, in the beginning of 2015, OJ C 28, 28.1.2015, p. 1, in June 2015, OJ C 215, 1.7.2015, p. 1, in June 2016, OJ C 244, 5.7.2016, p. 1, in June 2017, OJ C 206, 30.6.2017, p. 1, in June 2018, OJ C 225, 28.6.2018, p. 1 and most recently in December 2018, OJ C 457, 19.12.2018, p. 9.

(5) https://ec.europa.eu/competition/consultations/2019_export_greece/index_en.html

(6) https://ec.europa.eu/info/sites/info/files/economy-finance/ip115_en_0.pdf

27.11.2019

Official Journal of the European Union

C 401/5

Euro exchange rates (1)

26 November 2019

(2019/C 401/04)

1 euro =

	Currency	Exchange rate
USD	US dollar	1,1020
JPY	Japanese yen	120,09
DKK	Danish krone	7,4720
GBP	Pound sterling	0,85715
SEK	Swedish krona	10,5808
CHF	Swiss franc	1,0993
ISK	Iceland króna	135,40
NOK	Norwegian krone	10,0968
BGN	Bulgarian lev	1,9558
CZK	Czech koruna	25,505
HUF	Hungarian forint	336,16
PLN	Polish zloty	4,3015
RON	Romanian leu	4,7766
TRY	Turkish lira	6,3255
AUD	Australian dollar	1,6251
CAD	Canadian dollar	1,4663
HKD	Hong Kong dollar	8,6256
NZD	New Zealand dollar	1,7165
SGD	Singapore dollar	1,5057
KRW	South Korean won	1 296,87
ZAR	South African rand	16,3384
CNY	Chinese yuan renminbi	7,7576
HRK	Croatian kuna	7,4355
IDR	Indonesian rupiah	15 538,08
MYR	Malaysian ringgit	4,6097
PHP	Philippine peso	56,016
RUB	Russian rouble	70,5445
THB	Thai baht	33,297
BRL	Brazilian real	4,6915
MXN	Mexican peso	21,4669
INR	Indian rupee	78,8165

(1) Source: reference exchange rate published by the ECB.

27.11.2019

Official Journal of the European Union

C 401/8

Publication of an application for registration of a name pursuant to Article 50(2)(b) of Regulation (EU) No 1151/2012 of the European Parliament and of the Council on quality schemes for agricultural products and foodstuffs

(2019/C 401/06)

This publication confers the right to oppose the application pursuant to Article 51 of Regulation (EU) No 1151/2012 of the European Parliament and of the Council (1) within three months from the date of this publication.

PRODUCT SPECIFICATION OF A TRADITIONAL SPECIALITY GUARANTEED

‘WATERCRESS’/‘CRESSON DE FONTAINE’/‘BERROS DE AGUA’/‘AGRIÃO DE ÁGUA’/‘WATERKERS’/‘BRUNNENKRESSE’

EU No: TSG-GB-0062 — 6.12.2010

‘United Kingdom’

1. Name(s) to be registered

‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’

2. Type of product

Class 1.6. Fruit, vegetables and cereals fresh or processed

3. Grounds for registration

3.1. Whether the product:

☒ results from a mode of production, processing or composition corresponding to traditional practice for that product or foodstuff

☐ is produced from raw materials or ingredients that are those traditionally used.

‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ is naturally grown in flowing water to a traditional commercial production method used for over 200 years.

3.2. Whether the name:

☐ has been traditionally used to refer to the specific product

☒ identifies the traditional character or specific character of the product

For centuries even before commercial production commenced in Europe over 200 years ago, the name ‘water-cress’ in the UK, ‘cresson de fontaine’ in France, ‘Berros de Agua’ in Spain, ‘agrião de água’ in Portugal, but also ‘waterkers’ in Holland and ‘Brunnenkresse’ in Germany has been used to specify this variant of the cress family which is grown and harvested in flowing water. Cress is the plant name and water the descriptor.

4. Description

4.1. Description of the product to which the name under point 1 applies, including its main physical, chemical, microbiological or organoleptic characteristics showing the product’s specific character (Article 7(2) of this Regulation)

‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ with the botanical name Nasturtium officinale is a rapidly-growing, aquatic or semi-aquatic, perennial plant native to Europe, the Americas and Asia, and is one of the oldest known leaf vegetables consumed by humans. It is currently a member of the family Brassicaceae.

The botanical synonyms of Nasturtium officinale are Rorippa nasturtium-aquaticum, Nasturtium nasturtium-aquaticum and Sisymbrium nasturtium-aquaticum L. They reflect the true aquatic nature of the plant and how it grows.

The product presented to customers range from overall length of approximately 15cm to 18cm and leaves of 2cm to 5cm for bunch, and for packs overall length of approximately 5cm to 12cm and leaves of 1cm to 3cm.

The traditionally grown crop is cut from flowing water and is characterised by soft mid-green, moist leaves which have an unbroken edge and an oval shape. The stems are crisp, slightly paler in colour and can have some lateral roots extending from the joints of leaves to the stem.

Microbiological properties:

Derived from the environment in which the plant is grown; commercially grown in flowing spring water the crop acquires an epiphytic microbial population characteristically high in benign Pseudomonad sp. The plant is grown in pure flowing water of high microbiological quality.

Physical characteristics:

—	Alternate, pinnately compound leaves with 3 to 11 oblong to oval leaflets, these are shiny, dark green, rounded at the tip, smooth without teeth or with wavy toothed margins. The colour from green (Hex triplet 008000) to dark green (Hex triplet 006400).

—	Creeping or floating stems which are succulent or fleshy

—	Smooth fibrous roots which allow rooting to occur anywhere along the submerged stem, primarily at the nodes.

—

The plant bears white flowers with 4 petals about 3mm to 5mm across, in terminal racemes and in racemes from the axils of the uppermost leaves. Small white and green flowers are produced in clusters. As part of the plants’ natural life cycle flowers occur during the early summer months when day length is approaching its maximum.

—	In comparison Landcress is of the genus Barberea Verna, produces single pinnately divided green leaves on a stem, and during the flowering period has yellow flowers.

Chemical composition:

—

‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ is rich in glucosinolates and unique in high expression of the glucosinolate B-phenylethyl glucosinolate which releases phenylethylisothiocyanate (PEITC) at a percentage of 10mg/100g FW. PEITC is released during chewing and is responsible for the characteristic pungent flavour. The peppery taste characteristic is due to the mustard oils inherent in the plant. Stress affects the levels of PEITC in the plant. If the crop is stressed through low or high temperature, or subject to water shortage the plant produces variant levels of PEITC.

Organoleptical properties:

Comparative testing of ‘Watercress’ against land grown cress have indicated that the colour of ‘Watercress’ is darker/greener than land grown cress, it is significantly more peppery and it has a softer texture.

A further sensory evaluation was conducted in 2009 also indicated that land grown watercress had a weaker and less peppery flavour. Some comments were also recorded as to the water grown sample having darker leaves and a softer texture.

These two assessments demonstrated that on both occasions a professionally conducted evaluation of land versus flowing water grown crops identified differences, and when preference was sought, identified ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ as superior – on organoleptic qualities alone.

Characteristically ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ has a mustard after taste; it is peppery, hot and slightly bitter.

4.2. Description of the production method of the product to which the name under point 1 applies that the producers must follow including, where appropriate, the nature and characteristics of the raw materials or ingredients used, and the method by which the product is prepared (Article 7(2) of this Regulation)

‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ ‘must be grown in and harvested from flowing water using Nasturtium officinale seed. However seed may be sown on a suitable substrate in a propagation facility and the seedlings transferred to the production beds.

The crop can grow all year round in specially constructed beds partly protected from winter cold weather by the flowing water which rises from natural springs or boreholes, typically between 10 to 18 °C, and in summer from the cooler temperature of the water compared to ambient temperatures. The crop will experience physical damage if temperatures drop below 5 °C, in these situations some form of protection is required.

In order to have relatively uniform and consistent levels of PEITC (and therefore relatively uniform flavour) the crop needs stable, stress free growing conditions in terms of temperature, water supply and fertiliser. Having a water based cultivation where constant flowing water is supplied throughout the life cycle of the plant is the ideal way to maintain temperature; the flowing water cooling the crop on hot days and warming it on cold days.

By comparison a land grown crop does not have controlled temperatures. Soil and leaf temperatures can reach 40 °C on hot sunny days and in frosty weather the leaves can suffer freezing damage. These variable levels of stress will result in an irregular PEITC production by the plant and therefore deliver variable flavour.

Water Supply:

Traditionally the source of water has been from deep mineral rich natural springs or boreholes by either natural flows or pumped, however other sources are acceptable if of a suitably high microbiological quality (target zero Ecoli, tolerance,100cfu/100ml; target zero listeria, tolerance 100cfu/100ml, zero Salmonella, zero STEC) and free from surface water contamination. The water must be of a quality appropriate to the production of a minimally processed food, meaning one that may be consumed without cooking.

Bed Design:

The geographical positioning of the production beds will usually be dictated by the source of water and the outlet to the adjoining stream or river. The production beds are constructed with impermeable sides, on an incline of approximately 1 in 300 from the point water enters the bed, and in such a way as to preclude surface water or run-off from adjoining land. Traditionally the incoming water is channelled and regulated into the individual beds by valves, taps or simple openings in the inlet carrier wall. More modern farms have been constructed in such a manner as to allow for pressurised inlet water systems. Bed area varies depending on location and country but typically could be 10 metres wide by 100 metres long. All surface or run-off water must not be allowed to enter the site which can be achieved by ditches or bunds ahead of the fence. There must be no permanent muddy areas which could be a habitat for the mud snail.

Production Methods:

At least annually a new crop should be established from seed to prevent the build up of viruses, some of which are seed-borne. Seeds are either sown directly onto the bed bases, or more usually sown onto compost, or similar material, in a propagation facility and raised to the first true leaf stage (approx. 3cm to 5cm high). Early summer cropping will require new crops from seed to overcome the natural flowering period which occurs at this time of year. During other months product can be harvested from re-growths, a process of allowing the harvested crop to regenerate into a new crop. With a seedling crop, the aim is to establish between 8 000 to 10 000 plants per square metre, with the harvesting density likely to be approximately 2 000. Many growers produce their own seed by allowing some crop to flower and set seed, however seed is available from seed companies.

Direct seeding can be hand or machine spread onto the production beds, equally the seedlings produced in a propagation area can be planted by hand or machine, to achieve the above densities over the bed base which is capable of retaining nutrient enriched moisture allowing for early root infiltration and anchorage.

Thereafter the incoming nutrient enhanced water is allowed to flow over the base where by the crop derives the necessary minerals and trace elements essential for growth; the flow of water is increased as the crop matures to meet the needs of the crop.

Standard horticultural fertilisers with high phosphate content are used to supplement the nutrients from the water and bed base, and are applied as appropriate depending on crop requirements.

To be traditionally grown, the crop must be grown in pure flowing water. Land grown cress which has entered the market over the last few years is grown under plastic or glass in the same way lettuce or any other salad can be grown. Though the method of production is entirely different from water grown ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’, land grown cress is being called ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ because it looks the similar and can be passed off as water grown ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’. However it has not been produced in the same time honoured manner; it is not a traditionally produced speciality product, but simply one of many conventionally farmed leafy salads.

Harvesting:

‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ is cut for sale when the crop is 10 cm to 18cm long and sold bunched, unwashed or washed in packs. The traditional bunched product is characterised by pale stems stripped of leaf and root for 5cm to 6cm and held together by a rubber band or tie, above which the leaves, target 2cm to 5cm form the ‘head’ of the bunch. The more popular washed packs are of separate stems of ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ and are generally less mature than in the bunch, with smaller leaves, target 1cm to 3cm, arranged in a random manner to form a tangle of stems, petioles and leaves.

4.3. Description of the key elements establishing the product’s traditional character (Article 7(2) of this Regulation)

The traditional character of ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ is enshrined in its production method and has been associated with flowing water for thousands of years; historically the crop has always been associated with aquatic production and has remained unaltered by selection and breeding in terms of morphology and flavour. Today it still looks identical to illustrations of the plant dating to Roman times.

Hippocrates, the founder of modern medicine is recorded to have chosen the site for the world’s first hospital, on the island of Kos, close to a stream suitable for cultivating the plant which he regarded as essential to the treatment of his patients. The Romans also grew ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ in flowing water.

Nicholas Culpeper in his book Complete Herbal published in 1653 describes water cress as ‘growing in small rivulets of running water’.

The first commercial cultivation of ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ was recorded in the UK, in 1808, and the crop was grown extensively in the clean, free-flowing streams of southern England during the 1800s. It is a method of commercial production that has remained essentially unchanged, although the method of growing ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ in flowing water dates back to Roman times. Production in France was described by Adophle Chatin in 1866 as ‘These ditches were an immense culture of Fountain Cresson, this culture was established for several years on water sources’.

By the late 1800s ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ was a significant source of employment and revenue, the crop was being supplied to the major conurbations throughout northern Europe. As an example in the UK the railway was extended to Alresford, Hampshire to carry upwards of 30 tonnes a week to the London markets. The restored steam railway is still known as ‘The Watercress Line’ today.

There are several cinematic recordings from the 1930’s showing ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ growing in flowing water.

In all countries, traditional ‘Watercress’/‘Cresson de Fontaine’/‘Berros de Agua’/‘Agrião de Água’/‘Waterkers’/‘Brunnenkresse’ must be grown in flowing water. Pure spring waters rising from underground strata contain all the minerals needed for growth, however there is normally a lack of phosphorus. In northern Europe this was fortuitously available as a slow release phosphate fertiliser in the form of basic slag, a by-product of the traditional steel making process. For almost 200 years the crop was grown using pure spring waters supplemented by bed base applications of basic slag which supplied the phosphate fertiliser and trace elements the crop could not find in the flowing water. Today the steel making process has changed and basic slag is no longer available. Consequently, slow release commercial phosphate fertilizers are now used instead.

Traditionally grown, it is cut from pure flowing water, and is characterised by soft mid green, moist leaves of an oval shape. The stems are crisp and it can have some lateral roots extending from the joints of leaves to the stem. The plants have a characteristic mustard after taste; peppery, hot and slightly bitter.

(1) OJ L 343, 14.12.2012, p. 1.

		ISSN 1977-091X
Official Journal of the European Union		C 401

English edition	Information and Notices	Volume 62 27 November 2019

Contents		page
	II Information
	INFORMATION FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES
	European Commission
2019/C 401/01	Non-opposition to a notified concentration (Case M.9599 — Cobepa/Socotec) ( 1 )	1
2019/C 401/02	Non-opposition to a notified concentration (Case M.9597 — Cinven/Stichting Barentz Beheer/Barentz) ( 1 )	2
2019/C 401/03	Communication from the Commission amending the Annex to the Communication from the Commission to the Member States on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to short-term export-credit insurance	3

	IV Notices
	NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES
	European Commission
2019/C 401/04	Euro exchange rates — 26 November 2019	5

	V Announcements
	PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY
	European Commission
2019/C 401/05	Prior notification of a concentration (Case M.9618 — La Poste/BRT) Candidate case for simplified procedure ( 1 )	6
	OTHER ACTS
	European Commission
2019/C 401/06	Publication of an application for registration of a name pursuant to Article 50(2)(b) of Regulation (EU) No 1151/2012 of the European Parliament and of the Council on quality schemes for agricultural products and foodstuffs	8

	Corrigenda
	Corrigendum to Prior notification of a concentration (Case M.9621 — Suez/Itochu/SFC/EDCO) Candidate case for simplified procedure ( OJ C 395, 22.11.2019 )	13


	(1) Text with EEA relevance.