Kommissionen kan ikke acceptere Tysklands argument, at risikoen for tab var mindre end ved en investering i aktiekapital, fordi BayernLB, allerede inden den særlige formue blev overdraget, disponerede over en stor egenkapital og dermed slet ikke var afhængig af kapitalen.
The Commission cannot accept Germany's argument that the risk of loss was lower than that for a share-capital investment because BayernLB already had substantial own funds at its disposal before the special-purpose reserve was transferred and was therefore not at all dependent on that capital.