Translation of "translation of étant en défaut " (French → English) :

The procedures and penalties relating to settlement fails should be commensurate with the scale and seriousness of such fails whilst being scaled in such a way that maintains and protects the liquidity of the relevant financial instruments.

How default rates are counted in the system is that anybody who has missed three consecutive payments is counted as a defaulter.

When such risks are detected, the Commission can address a recommendation directly to the Member State concerned so that it makes sure it does everything necessary to avoid being judged non-compliant and thereby avoid financial sanctions.

The voluntary participation of private creditors - of which we previously aware that this would be considered as "selective default", and therefore cannot be considered as a surprise - is unique, unprecedented and restricted to Greece.

The Court stated further, at paragraphs 122 and 118 of the judgments in T-109/08 and T-110/08 respectively, that since the marks for which registration was sought consisted of the presentation of a product, there was no language barrier to their registration and it was, therefore, in principle, in all parts of the Community where the inherent distinctive character was missing that the acquisition of distinctive character through use had to be established in order for those marks to be registered in accordance with Article 7(3) of Regulation No 40/94.

Given that the auctioning of allowances consists of their primary issuance into the secondary market instead of allocating them directly to operators and aircraft operators free of charge, it is inappropriate for the clearing system(s) or settlement system(s) to be bound by any obligations of specific performance of the delivery of allowances to successful bidders or their successors in title in the event of any failure in delivery, outside its control.

Thus, further information could have been provided during the proceedings, depriving of its purpose the ground of appeal alleging the absence of a statement of reasons, bearing in mind, however, that the Commission was not entitled to substitute an entirely new statement of reasons for the initial, erroneous, statement (see, to that effect, Berlingieri Vinzek v Commission, paragraph 23 above, paragraph 79, and Case T‑277/02 Pascall v Council [2004] ECR-SC I‑A‑137 and II‑621, paragraph 31).

In the absence of different arrangements, failing a response within a time period, an authorisation should be deemed to have been granted.

One of the responses we got back—and I'm going back a couple of years, and this was before the transition to the banks—was that, whereas in a normal collection process they would search them out and find them and continue with the collection, a simple change of address, making a person in that action inaccessible, was enough to get a person recorded as being in default of a student loan.

This being the case, and because we are in no position to make a rigorous assessment of public policy on drugs, we will examine the question on the basis of a series of indirect indicators.