natgillin/translations-raw huggingface dataset:
Б. като има предвид, че след това комисията по икономически и парични въпроси на Парламента направи оценка на квалификацията на предложения кандидат, по-специално от гледна точка на условията, посочени в член 283, параграф 2 от Договора за функционирането на Европейския съюз (ДФЕС), и на изискването за пълна независимост на ЕЦБ, в съответствие с член 130 от ДФЕС, и като има предвид, че в рамките на тази оценка кандидатът предостави на комисията автобиография, както и своите отговори на отправения му писмен въпросник;
B. whereas Parliament’s Committee on Economic and Monetary Affairs then proceeded to evaluate the credentials of the nominee, in particular in view of the requirements laid down in Article 283(2) of the Treaty on the Functioning of the European Union (TFEU) and in the light of the need for full independence of the European Central Bank pursuant to Article 130 TFEU, and whereas in carrying out this evaluation, the committee received a curriculum vitae from the candidate as well as his replies to the written questionnaire that was sent to him;
В. като има предвид, че впоследствие, на 12 декември 2011 г. комисията проведе изслушване на кандидата, продължило час и половина, по време на което той направи встъпителна декларация, а след това отговори на въпросите, зададени от членовете на комисията;
C. whereas the committee subsequently held a one-and-a-half-hour hearing with the nominee on 12 December 2011, at which he made an opening statement and then responded to questions from the members of the committee;
ПРИЛОЖЕНИЕ 1: АВТОБИОГРАФИЯ НА Benoît Coeuré
ANNEX 1 : CURRICULUM VITAE OF BenoÎt CoEU ré
Роден на 17 март 1969 г. в Гренобъл, Франция.
Born 17 March 1969 in Grenoble, France.
1985 г. Диплома за завършено средно образование (Baccalauréat), лицей „Стендал“, Гренобъл
1985 Baccalauréat, Lycée Stendhal, Grenoble
1990 г. Висше политехническо училище (Ecole Polytechnique)
1990 Ecole Polytechnique
1992 г. Национално училище по статистика и икономическо управление (Ecole Nationale de la Statistique et de l’Administration Économique)
1992 Ecole Nationale de la Statistique et de l’Administration Économique
Магистърска степен по икономически анализ и политика, Висше училище за социални науки (EHESS), Париж
M.A. in Economic Analysis and Policy, EHESS, Paris
Бакалавърска степен по японски език, Университет Париж 7
B.A. in Japanese, Paris 7 University
Професионална кариера
Professional career
1992—1995 г. Икономист, направление по макроикономическа политика и растеж, Национален институт за статистика и икономически проучвания (INSEE)
1992-1995 Economist, Macroeconomic Policy and Growth Division, INSEE
1995—1997 г. Икономист, Отдел за валутна политика и платежен баланс, Трезор на Франция
1995-1997 Economist, Foreign Exchange Policy and Balance of Payment Unit, French Treasury
1997—2002 г. Икономически съветник на директора на Трезора
1997-2002 Economic adviser of the Director of the Treasury
1999—2001 г. Ръководител на Отдела за валутна политика и икономическа политика, Трезор на Франция
1999-2001 Head of Foreign Exchange Policy and Economic Policy Unit, French Treasury
2002—2006 г. Заместник-главен изпълнителен директор, Agence France Trésor
2002-2006 Deputy Chief Executive, Agence France Trésor
2006—2007 г. Главен изпълнителен директор, Agence France Trésor
2006-2007 Chief Executive, Agence France Trésor
2007—2009 г. Ръководител на отдела за многостранни въпроси и развитие, Трезор на Франция
2007-2009 Head of Multilateral Affairs and Development, French Treasury
2009—2011 г. Заместник-генерален директор на Трезора на Франция
2009-2011 Deputy Director-General of the French Treasury
Други официални постове
Other official positions
Съпредседател на Парижкия клуб (2007—2009 г.)
Co-chair of the Paris Club (2007-2009)
Г-7 — Г-8: Заместник на заместника и отговорен по финансовите въпроси „помощник-шерпа“ за Франция (2007—2009 г.)
G7-G8 Deputy-Deputy and Finance Sous-sherpa for France (2007-2009)
Съпредседател на Работната група на Г-20 по реформата на Световната банка и другите многостранни банки за развитие (2009 г.) и на Работната подгрупа на Г-20 по управление на глобалната ликвидност (2011 г.)
Co-chair of the G-20 Working Group on Reforming the World Bank and the Other Multilateral Development Banks (2009) and of the G-20 sub-Working Group on Global Liquidity Management (2011)
Член на Работна група № 3 на ОИСР (2009—2011 г.)
Member of Working Party No. 3 of the OECD (2009-2011)
Член на подкомисията на ЕС за полици и облигации и на Ръководния комитет на Работната група на ОИСР по управление на дълговете (2002—2007 г.)
Member of the EU sub-Committee on Bills and Bonds and of the Steering Committee of the OECD Working Group on Debt Management (2002-2007)
Член на управителните съвети на CADES (2002—2007 г.) и Френската агенция за развитие (2007—2009 г.)
Member of the Boards of CADES (2002-2007) and French Development Agency (2007-2009)
Член на Френския съвет за икономически анализ, Съвета за пенсионно ориентиране и Съвета за наблюдение на заетостта (2009—2011 г.)
Member of the French Council of Economic Analysis, Pensions Orientation Council and Employment Observation Council (2009-2011)
Медал на националната отбрана (Médaille de la défense nationale) (1988 г.)
Médaille de la défense nationale (1988)
Отвъдморски медал (Médaille d’outre-mer) (1988 г.)
Médaille d’outre-mer (1988)
Кавалер на Националния орден за заслуги (Ordre National du Mérite) (2009 г.);
Chevalier de l’Ordre National du Mérite (2009)
Академични награди
Academic awards
Номиниран за най-добър млад френски икономист (2005 г.)
Nominated for best young French economist (2005)
Please highlight the main aspects of your professional experience in monetary, financial and business matters.
Please highlight the main aspects of your professional experience in monetary, financial and business matters.
From 1995 to 1997, I have been an economist at the French Treasury, preparing for EU, G7 and OECD meetings.
From 1995 to 1997, I have been an economist at the French Treasury, preparing for EU, G7 and OECD meetings.
I have then been the economic adviser to the Director of the French Treasury, in particular during the Asian crisis.
I have then been the economic adviser to the Director of the French Treasury, in particular during the Asian crisis.
From 2002 to 2007, I have been the deputy head, then the head of the debt management office, Agence France Trésor.
From 2002 to 2007, I have been the deputy head, then the head of the debt management office, Agence France Trésor.
In this capacity, I have been in charge of France’s cash management policy and operations, including cash pooling for all local jurisdictions.
In this capacity, I have been in charge of France’s cash management policy and operations, including cash pooling for all local jurisdictions.
I have also been in charge of the issuance strategy and auctions of French debt, and of relations with the relevant stakeholders such as end-investors including central banks, primary dealers, other sovereign issuers, and market infrastructures.
I have also been in charge of the issuance strategy and auctions of French debt, and of relations with the relevant stakeholders such as end-investors including central banks, primary dealers, other sovereign issuers, and market infrastructures.
From 2007 to 2009, I have been responsible for multilateral affairs at the French Treasury, and as such in charge of international financial negotiations, development finance, and international trade policy.
From 2007 to 2009, I have been responsible for multilateral affairs at the French Treasury, and as such in charge of international financial negotiations, development finance, and international trade policy.
Since 2009, I have been deputy director-general and chief economist of the French Treasury, responsible for economic policy advice both in the macroeconomic and structural fields, and for public finance coordination.
Since 2009, I have been deputy director-general and chief economist of the French Treasury, responsible for economic policy advice both in the macroeconomic and structural fields, and for public finance coordination.
In this capacity, I have also been in charge of trade promotion and export credit, and I have been involved in Financial Stability Board discussions.
In this capacity, I have also been in charge of trade promotion and export credit, and I have been involved in Financial Stability Board discussions.
Please highlight the main aspects of your European and international experience.
Please highlight the main aspects of your European and international experience.
European experience : as a junior economist, I have participated in preparatory work for phase III of the Economic and Monetary Union, including initial drafting of the Stability and Growth Pact and the Exchange Rate Mechanism.
European experience : as a junior economist, I have participated in preparatory work for phase III of the Economic and Monetary Union, including initial drafting of the Stability and Growth Pact and the Exchange Rate Mechanism.
As head of the foreign exchange and economic policy division of the French Treasury from 1999 to 2001, I have been in charge of preparing Eurogroup meetings and EU discussions on macro and budgetary surveillance.
As head of the foreign exchange and economic policy division of the French Treasury from 1999 to 2001, I have been in charge of preparing Eurogroup meetings and EU discussions on macro and budgetary surveillance.
As deputy head, then head of the French debt management office from 2002 to 2007, I was a member of the EFC sub-committee on bonds and bills.
As deputy head, then head of the French debt management office from 2002 to 2007, I was a member of the EFC sub-committee on bonds and bills.
International experience : from 2007 to 2009, I have been G7/G8 Finance Sous-Sherpa for France, alternate Governor for France of the African Development Bank and Governor of IFAD, and a member of the board of the French Development Agency and of the Central Bank of Central African States (BEAC).
International experience : from 2007 to 2009, I have been G7/G8 Finance Sous-Sherpa for France, alternate Governor for France of the African Development Bank and Governor of IFAD, and a member of the board of the French Development Agency and of the Central Bank of Central African States (BEAC).
I have accompanied the French Finance Minister in IMF/World Bank and other multilateral meetings and sometimes represented her as head of delegation.
I have accompanied the French Finance Minister in IMF/World Bank and other multilateral meetings and sometimes represented her as head of delegation.
I have co-chaired two working groups of the G-20: on reforming the World Bank and other multilateral financial institutions in 2009 and on global liquidity management in 2011.
I have co-chaired two working groups of the G-20: on reforming the World Bank and other multilateral financial institutions in 2009 and on global liquidity management in 2011.
I have been the Co-Chair of the Paris Club from 2007 to 2009 and in this capacity, I have presided over several debt treatment negotiations such as Congo, Djibouti, Guinée, Liberia, and Seychelles, and led debt discussions with the Argentine government.
I have been the Co-Chair of the Paris Club from 2007 to 2009 and in this capacity, I have presided over several debt treatment negotiations such as Congo, Djibouti, Guinée, Liberia, and Seychelles, and led debt discussions with the Argentine government.
Please highlight the main aspects of your academic background and most relevant publications on monetary and economic policy and financial regulation matters.
Please highlight the main aspects of your academic background and most relevant publications on monetary and economic policy and financial regulation matters.
I studied economics at EHESS and ENSAE in Paris.
I studied economics at EHESS and ENSAE in Paris.
I have taught economic policy and international economics at Ecole polytechnique from 2001 to 2011, and at Sciences Po since 2011.
I have taught economic policy and international economics at Ecole polytechnique from 2001 to 2011, and at Sciences Po since 2011.
I have published articles mainly on exchange rate policies, the international monetary system and on European policies, including in academic journals.
I have published articles mainly on exchange rate policies, the international monetary system and on European policies, including in academic journals.
I have published two textbooks with co-authors: Economie de l’euro (La Découverte, 2002 and 2010) and Politique économique (De Boeck, 2004 and 2009, US version released as Economic Policy: Theory and Practice by Oxford University Press, 2010) and a CEPR report on pension fund reform written together with a Dutch and British colleagues.
I have published two textbooks with co-authors: Economie de l’euro (La Découverte, 2002 and 2010) and Politique économique (De Boeck, 2004 and 2009, US version released as Economic Policy: Theory and Practice by Oxford University Press, 2010) and a CEPR report on pension fund reform written together with a Dutch and British colleagues.
I have also edited collective policy contributions, including most recently Sauver l’Etat (Presses Universitaires de France, 2011) on French public finance consolidation.
I have also edited collective policy contributions, including most recently Sauver l’Etat (Presses Universitaires de France, 2011) on French public finance consolidation.
What are the most important decisions to which you have been party in your professional life?
What are the most important decisions to which you have been party in your professional life?
The most momentous decisions to which I have been party may have been the final discussions before the introduction of the euro, the decisions and reforms around and after the Asian crisis, the G20 Leaders Summits in Washington and London, and the management of the euro area crisis since 2010.
The most momentous decisions to which I have been party may have been the final discussions before the introduction of the euro, the decisions and reforms around and after the Asian crisis, the G20 Leaders Summits in Washington and London, and the management of the euro area crisis since 2010.
That said, as head of the French debt management office, I had to take decisions which did not make history but nevertheless had an impact on either French public finances or the European sovereign bond market, such as developing the market for inflation-protected debt or issuing the first 50-year sovereign bond.
That said, as head of the French debt management office, I had to take decisions which did not make history but nevertheless had an impact on either French public finances or the European sovereign bond market, such as developing the market for inflation-protected debt or issuing the first 50-year sovereign bond.
Do you have any business or financial holdings or any other commitments which might conflict you with your prospective duties, and are there any other relevant personal or other factors that need to be taken account of by the Parliament when considering your nomination?
Do you have any business or financial holdings or any other commitments which might conflict you with your prospective duties, and are there any other relevant personal or other factors that need to be taken account of by the Parliament when considering your nomination?
You have been chosen, among other French candidates, including a central banker, by President Sarkozy, who has very strong views on the role of the ECB.
You have been chosen, among other French candidates, including a central banker, by President Sarkozy, who has very strong views on the role of the ECB.
Will that affect your independence and your actions at the ECB?
Will that affect your independence and your actions at the ECB?
As a candidate to an Executive Board position, I intend to be loyal to the ECB and to abide by its statute.
As a candidate to an Executive Board position, I intend to be loyal to the ECB and to abide by its statute.
Members of the ECB decision-making bodies cannot accept or seek instructions from any government of a Member State, and governments have undertaken to respect this principle and not to seek to influence them.
Members of the ECB decision-making bodies cannot accept or seek instructions from any government of a Member State, and governments have undertaken to respect this principle and not to seek to influence them.
Executive Board members should therefore act in the interest of the EU within the mandate of the ECB as defined by the Treaties.
Executive Board members should therefore act in the interest of the EU within the mandate of the ECB as defined by the Treaties.
Besides, moving from a Treasury to a central bank is not unprecedented and I have interacted closely in my professional career with the Eurosystem and the central banking community – most recently, as co-chair of the G-20 working group on global liquidity management, a group made of Treasury and central bank officials, with my co-chair being a representative of the Central Bank of Mexico.
Besides, moving from a Treasury to a central bank is not unprecedented and I have interacted closely in my professional career with the Eurosystem and the central banking community – most recently, as co-chair of the G-20 working group on global liquidity management, a group made of Treasury and central bank officials, with my co-chair being a representative of the Central Bank of Mexico.
What would be the guiding objectives you will pursue during mandate at the European Central Bank?
What would be the guiding objectives you will pursue during mandate at the European Central Bank?
If confirmed, my guiding objectives would be to contribute to the achievement of the ECB mandate, with a primary objective to maintain price stability, and to protect the independence of the ECB, in the interest of euro area citizens.
If confirmed, my guiding objectives would be to contribute to the achievement of the ECB mandate, with a primary objective to maintain price stability, and to protect the independence of the ECB, in the interest of euro area citizens.
In pursuing these objectives, I would seek as much as possible to encourage collective thinking and base decisions on first principles.
In pursuing these objectives, I would seek as much as possible to encourage collective thinking and base decisions on first principles.
What is your assessment of the monetary policy as it has been implemented by the European System of Central Banks (ESCB) for 12 years?
What is your assessment of the monetary policy as it has been implemented by the European System of Central Banks (ESCB) for 12 years?
What changes, if any, would you promote?
What changes, if any, would you promote?
The Treaty gives the ECB the clear mandate to maintain price stability over the medium term for the euro area as a whole.
The Treaty gives the ECB the clear mandate to maintain price stability over the medium term for the euro area as a whole.
The ECB has been successful, with average inflation around 2% since 1999.
The ECB has been successful, with average inflation around 2% since 1999.
More importantly, inflation expectations in surveys and in financial markets have been below, but close to, 2% over the medium term, despite many exceptional challenges ranging from large increases in commodity prices to downward inflation pressure stemming from the very severe and global economic recession.
More importantly, inflation expectations in surveys and in financial markets have been below, but close to, 2% over the medium term, despite many exceptional challenges ranging from large increases in commodity prices to downward inflation pressure stemming from the very severe and global economic recession.
Today, I see no reason for changing this successful framework.
Today, I see no reason for changing this successful framework.
It is often asserted that due to structural changes in the world economy inflation has shifted from inflation in consumer prices to inflation in asset prices.
It is often asserted that due to structural changes in the world economy inflation has shifted from inflation in consumer prices to inflation in asset prices.
Building on the lessons from the current crisis, should the ECB disregard the evolution of asset prices?
Building on the lessons from the current crisis, should the ECB disregard the evolution of asset prices?
The trend decline in both the level and the variability of goods and service price inflation over the past 30 years - until before the eruption of the financial crisis in 2007 - is due, among other factors including globalisation, to the significant improvement in policymaking and the unchallenged focus by central banks on the need to preserve price stability.
The trend decline in both the level and the variability of goods and service price inflation over the past 30 years - until before the eruption of the financial crisis in 2007 - is due, among other factors including globalisation, to the significant improvement in policymaking and the unchallenged focus by central banks on the need to preserve price stability.
The events of the past four years are a clear testimony of the importance for central banks to monitor asset price developments in order to preserve macroeconomic stability.
The events of the past four years are a clear testimony of the importance for central banks to monitor asset price developments in order to preserve macroeconomic stability.
In their quest for price stability central banks should not target prices of financial or real assets, but rather incorporate the information on eventually unsustainable developments in such prices into their own decisional process so as to neutralise the possible effects of financial crisis on output and price stability.
In their quest for price stability central banks should not target prices of financial or real assets, but rather incorporate the information on eventually unsustainable developments in such prices into their own decisional process so as to neutralise the possible effects of financial crisis on output and price stability.
The ECB’s monetary policy strategy is well equipped in that regard.
The ECB’s monetary policy strategy is well equipped in that regard.
The information embedded in money, credit and asset prices helps the Governing Council to form a view on the likely developments in economic activity originating in the links between asset prices on one side and, respectively, private wealth, the cost of capital and the balance sheet positions of various euro area sectors, on the other side.
The information embedded in money, credit and asset prices helps the Governing Council to form a view on the likely developments in economic activity originating in the links between asset prices on one side and, respectively, private wealth, the cost of capital and the balance sheet positions of various euro area sectors, on the other side.
Moreover, the flexible, medium-term orientation of the monetary policy strategy allows taking into consideration also scenarios of financial instability, including the prevention of asset price bubbles, insofar as they impact on the outlook for price stability in the euro area, as credit and financial imbalances are normally characterised by a rather longer build-up time period as compared to the other more common economic shocks.
Moreover, the flexible, medium-term orientation of the monetary policy strategy allows taking into consideration also scenarios of financial instability, including the prevention of asset price bubbles, insofar as they impact on the outlook for price stability in the euro area, as credit and financial imbalances are normally characterised by a rather longer build-up time period as compared to the other more common economic shocks.
How do you assess the consequences of rising commodity prices for monetary policy?
How do you assess the consequences of rising commodity prices for monetary policy?
Is there a conflict in terms of monetary policy between fighting the recession and remaining vigilant about inflation (expectations)?
Is there a conflict in terms of monetary policy between fighting the recession and remaining vigilant about inflation (expectations)?