natgillin/translations-raw huggingface dataset:
Der er en detaljeret forklaring af ENS95 i manualen om det offentlige underskud og den offentlige gæld ( Manual on Government Deficit and Debt ) , som blev offentliggjort i begyndelsen af 2000 efter godkendelse i Komitéen for Monetær , Finansiel og Betalingsbalancestatistik ( CMFB ) , der består af repræsentanter fra de nationale centralbanker og statistikmyndigheder i medlemslandene .
A detailed explanation of the application of the ESA 95 is provided in the Manual on Government Deficit and Debt issued at the beginning of 2000 after approval by the Committee on Monetary , Financial and Balance of Payments Statistics ( CMFB ) , which includes representatives of Member States » national central banks and NSIs .
Valutakurser Medlemslandenes valutakurser over for euro er referencekurser , som ECB noterer dagligt kl . 14.15 ( i henhold til den daglige koncertationsprocedure mellem centralbankerne ) .
Exchange rates Exchange rates of the currencies of the Member States under review vis-à-vis the euro are daily reference rates recorded by the ECB at 2.15 p.m. ( following the daily concertation procedure between central banks ) .
Disse referencekurser offentliggøres på ECBs websted og via elektroniske finansielle nyhedstjenester .
These reference exchange rates are published by the ECB on its website and are also available via electronic market information providers .
Valutakurser over for ECU er daglige officielle kurser , som offentliggøres i De Europæiske Fællesskabers Tidende .
Exchange rates vis-à-vis the ECU are daily official rates as published in the Official Journal of the European Communities .
De europæiske krydskurser , der anvendes i denne rapport , er beregnet ud fra euro -/ ECU-kurserne .
European cross rates used throughout this Report are derived from these euro / ECU exchange rates .
De nominelle og reale effektive valutakurser , som er omtalt i denne rapport , er baseret på serier beregnet af Europa-Kommissionen .
The nominal and real effective exchange rates , to which the Report refers , are based on series calculated by the European Commission .
Lange renter Protokol nr. 21 om konvergenskriterierne som nævnt i artikel 121 i traktaten kræver , at rentekonvergens vurderes på grundlag af langfristede statsobligationer eller sammenlignelige værdipapirer observeret i en periode på et år forud for vurderingen under hensyntagen til forskelle i de nationale definitioner .
Long-term interest rates Protocol No. 21 on the convergence criteria referred to in Article 121 of the Treaty
de statistiske data , der skal bruges med henblik på protokollens anvendelse , har EMI med sin ekspertise på området bidraget til at definere den repræsentative statistik for lange renter og indsamle data fra centralbankerne til videresendelse til Europa-Kommissionen .
requires interest rate convergence to be assessed on the basis of long-term government bonds , or comparable securities , observed over a period of one year before the assessment , taking into account differences in national definitions . While Article 5 of Protocol No. 21 assigns responsibility for providing the statistical data for the application of the Protocol to the European Commission , assistance was provided by the EMI in defining representative long-term interest rate statistics , given its expertise in the area , and in collecting the data from the central banks for transmission to the European Commission .
ECB har fortsat EMIs arbejde på dette område .
The ECB has continued the EMI 's assistance .
Selv om medlemslandene benytter samme metoder til beregning af obligationsrenterne , var der markante forskelle i statistikken for lange renter med hensyn til valg af værdipapirer , den benyttede renteformel , valg af løbetid , beskatning og justering for kuponeffekter .
Although the methodology for calculating the yields of bonds is similar across Member States , considerable differences existed in long-term interest rate statistics in respect of the choice of securities , the yield formulae used , the maturities chosen , the treatment of taxation and adjustments for coupon effects .
Formålet med EMIs harmonisering var at udarbejde henstillinger , især med hensyn til disse valg , der var tilstrækkeligt generelle til at tage højde for forskelle på de nationale markeder og alligevel fleksible nok til at give plads til disse markeders udvikling , uden at dataenes sammenlignelighed derved forringedes .
The purpose of the harmonisation exercise carried out by the EMI was to make recommendations , in particular with regard to these choices , which would be general enough to allow for differences in national markets and yet flexible enough to allow those markets to evolve , without the comparability of data being impaired .
Principperne for harmoniseringen var , at obligationsudstederen skulle være staten , at der skulle være en fast kuponrente og tæt på 10 år til udløb , samt at obligationsrenten ikke skulle korrigeres for skat .
The harmonisation principles were that the issuer of bonds should be the central government , with fixed coupon securities of close to ten years to maturity , and that yields should be measured gross of tax .
For at sikre , at der tages højde for markedets dybde , og at der ikke er nogen likviditetspræmie i renten , bør de repræsentative værdipapirer vælges på grundlag af en høj grad af likviditet .
To ensure that the depth of the market is taken into account , and that no liquidity premium is carried into the yield , the representative securities should be chosen on the basis of their high liquidity .
Siden ultimo december 1997 har 11 lande benyttet en benchmarkobligation , mens fire lande har benyttet et udvalg af obligationer med markedets likviditet ved 10-års punktet som bestemmende faktor .
Since end-December 1997 11 countries have been using a benchmark bond and four a sample of bonds , taking the liquidity of the market at the ten-year point as the determining factor .
Særlige obligationer ( fx med indbygget option og nulkupon ) indgår ikke i vurderingen .
« Special feature » bonds ( e.g. embedded option and zero coupon ) are excluded from the assessment .
Valget af meget likvide obligationer kan også ses som en effektiv indirekte måde at minimere effekten af forskellige kuponrenter på .
The selection of highly liquid bonds is also seen as an effective indirect means by which to minimise the effects of different coupon values .
Endelig valgtes en ensartet formel ud fra de eksisterende internationale standarder , nemlig formel 6.3 i „formulae for yield and other calculations » fra International Securities Market Association .
Finally , a uniform formula was chosen from existing international standards , namely formula 6.3 from the « formulae for yield and other calculations » of the International Securities Market Association .
Hvis der er mere end en obligation i udvalget , beregnes den repræsentative rente ved hjælp af et simpelt rentegennemsnit i lyset af de udvalgte obligationers likviditet .
Where there is more than one bond in the sample , the liquidity of the selected bonds warrants the use of a simple average of the yields to produce the representative rate .
Formålet med disse ændringer var at fokusere på den statistiske beregning af konvergensens formodede holdbarhed .
The aim of these changes was to focus on the statistical measurement of the perceived durability of convergence .
Som nævnt ovenfor har cen - tralbankerne gennemført harmoniseringen af de repræsentative lange renter , og der benyttes i denne rapport fuldt harmoniserede data .
As mentioned above , the production of the harmonised representative long-term interest rates has been implemented by the central banks , and fully harmonised data are used in this Report .
Andre faktorer Traktatens artikel 121 , stk . 1 , sidste led , angiver , at Europa-Kommissionens og ECBs beretninger , foruden de fire hovedkriterier , skal omhandle ECUens udvikling , resultaterne af markedsintegrationen , situationen for og udviklingen i betalingsbalancens løbende poster og en redegørelse for udviklingen i enhedslønomkostningerne og andre prisindeks .
Other factors The last paragraph of Article 121 ( 1 ) of the Treaty states that the reports of the European Commission and the ECB shall , in addition to the four main criteria , also take account of the development of the ECU , the results of the integration of markets , the situation and development of the balances of payments on the current account and an examination of the development of unit labour costs and other price indices .
Hvad angår de fire vigtigste kriterier , beskriver protokol nr. 21 mere detaljeret de data , der skal benyttes , og fastsætter , at EuropaKommissionen tilvejebringer de data , der skal benyttes i vurderingen af overensstemmelsen med kriterierne . Derimod er disse „andre faktorer » ikke omtalt i protokollen .
Whereas for the four main criteria Protocol No. 21 describes the data to be used in more detail and stipulates that the European Commission will provide the data to be used for the assessment of compliance with these criteria , there is no reference to these « other factors » in the Protocol .
Hvad angår betalingsbalancen og eksterne nettoaktiver og - passiver , beregnes dataene af de respektive nationale centralbanker i henhold til IMFs 5 . betalingsbalancemanual for de seneste år ( 1997 til 1999 for Grækenlands vedkommende og 1998 og 1999 for Sveriges vedkommende ) .
With regard to balance of payments and net foreign assets and liabilities , the data used are compiled by the respective national central bank following the IMF Balance of Payments Manual , fifth edition , for recent years ( 1997 to 1999 for Greece , and 1998 and 1999 for Sweden ) . Previous years have been compiled by the European Commission
Data for tidligere år er beregnet af Europa-Kommissionen ( Eurostat ) i henhold til tidligere standarder ( IMFs 4 . betalingsbalancemanual ) og udtryk .
ECB Convergence Report -* 2000 ( Eurostat ) according to previous standards ( fourth edition of the IMF Balance of Payments Manual ) and proxies .
Data for enhedslønomkostninger samt nationalregnskabsdeflatorer er udledt af data i henhold til ENS95 .
Unit labour cost data as well as national accounts deflators are derived from data provided under the ESA 95 .
Indeks for producentpriserne er baseret på definitioner , som giver bredt sammenlignelige resultater for medlemslandene og omhandler indenlandsk salg i fremstillingssektoren .
Producer price indices are based on definitions , which provide broadly comparable results among Member States and refer to domestic sales of the manufacturing sector .
Skæringsdato Skæringsdatoen for statistikken i denne Konvergensrapport var den 14 . april 2000 , med undtagelse af HICP , som Europa-Kommissionen ( Eurostat ) offentliggjorde den 18 .
Cut-off date The cut-off date for the statistics included in this Convergence Report was 14 April 2000 , with the exception of the HICPs published by the European Commission ( Eurostat ) on 18 April 2000 .
april 2000 . 60
ECB Convergence Report -* 2000
Indledning af ØMU , inden Rådet foretager sin vurdering i henhold til traktatens artikel 121 , stk . 2 .
Introduction Protocol No. 26 of the Treaty on certain provisions relating to Denmark states that the Danish Government shall notify the EU Council of its position concerning participation in Stage Three of EMU before the Council makes its assessment under Article 121 ( 2 ) of the Treaty .
Danmark har allerede meddelt , at det ikke vil deltage i tredje fase af ØMU , og i overensstemmelse med protokollens artikel 2 betyder det , at Danmark skal behandles som et medlemsland med dispensation .
Denmark has already given notification of the fact that it will not participate in Stage Three of EMU . In accordance with Article 2 of Protocol No. 26 , this means that Denmark is treated as a Member State with a derogation .
Virkninger heraf for Danmark blev uddybet i en afgørelse truffet af stats - og regeringscheferne på topmødet i Edinburgh den 11 . - 12 .
Implications thereof for Denmark were elaborated in a Decision taken by the Heads of State or Government at their Edinburgh summit meeting on 11 and 12 December 1992 .
december 1992 . I afgørelsen fastslås det , at Danmark bevarer sine nuværende beføjelser med hensyn til pengepolitik i henhold til danske love og forskrifter , herunder Danmarks Nationalbanks beføjelser i pengepolitiske anliggender .
This Decision states that Denmark retains its existing powers in the field of monetary policy according to its national laws and regulations , including the powers of Danmarks Nationalbank in the field of monetary policy .
Da traktatens artikel 108 i overensstemmelse med traktatens artikel 122 , stk . 3 , gælder for Danmark , skal Danmarks Nationalbank opfylde kravene til centralbankuafhængighed .
As Article 108 of the Treaty , in accordance with Article 122 ( 3 ) of the Treaty , applies to Denmark , Danmarks Nationalbank has to fulfil the requirements of central bank independence .
I EMIs Konvergensrapport 1998 blev det konkluderet , at dette krav var opfyldt , og det er stadig tilfældet .
In the 1998 EMI Convergence Report it was concluded that this requirement had been fulfilled ; this position has not changed .
Der er hverken behov for regler om Danmarks Nationalbanks juridiske integration eller for en tilpasning af anden lovgivning , så længe Danmark ikke meddeler , at det agter at indføre den fælles valuta .
The legal integration of Danmarks Nationalbank does not need to be provided for and other legislation does not need to be adapted as long as Denmark does not notify that it intends to adopt the single currency .
I henhold til traktatens protokol nr. 25 om visse bestemmelser vedrørende Det Forenede Kongerige Storbritannien og Nordirland er landet ikke forpligtet til at gå over til tredje fase af ØMU , medmindre det meddeler Rådet , at det agter at gøre dette .
According to Protocol No. 25 of the Treaty on certain provisions relating to the United Kingdom of Great Britain and Northern Ireland , the United Kingdom shall be under no obligation to move to Stage Three of EMU unless it notifies the Council that it intends to do so .
I henhold til Storbritanniens meddelelse til Rådet den 30 . oktober 1997 om , at det ikke agtede at indføre den fælles valuta pr. 1 .
Pursuant to the notification given by the United Kingdom to the Council on 30 October 1997 that it did not intend to
1 , skal ECB ( og Europa-Kommissionen ) mindst en gang hvert andet år aflægge beretning om bl . a. foreneligheden mellem den nationale lovgivning i medlemslande med dispensation , herunder den nationale centralbanks ( NCBs ) statut , og traktatens artikel 108 og 109 og ESCB-statutten2 ( i denne rapport også benævnt „juridisk konvergens ") .
1.1 General remarks Article 122 ( 2 ) of the Treaty , 1 read in conjunction with Article 121 ( 1 ) , requires the ECB ( as well as the European Commission ) to report at least once every two years on , inter alia , the compatibility between the national legislation of each Member State with a derogation , including the statutes of its national central bank ( NCB ) , and Articles 108 and 109 of the Treaty and the Statute of the ESCB2 ( in this Report also referred to as « legal convergence ") .
I lyset af disse traktatbestemmelser har ECB undersøgt Grækenlands og Sveriges lovgivning og de lovgivningsinitiativer , som disse medlemslande har taget og / eller skal tage , for at deres nationale lovgivning er forenelig med traktaten og ESCB-statutten .
In the light of these Treaty provisions , the ECB has examined the legal situation in Greece and Sweden and the legislative measures which have been taken and / or need to be taken by these Member States with a view to achieving compatibility of their national legislation with the Treaty and the Statute of the ESCB .
Undersøgelsesresultaterne er anført nedenfor .
The results of this examination are presented below .
Denne rapport bygger på EMIs tidligere rapporter om juridisk konvergens , især EMIs Konvergensrapport fra marts 1998 , men også rapporterne om fremskridt hen imod konvergens fra 1995 og 1996 og den juridiske ajourføring heraf fra oktober 1997 .
This Report draws on the EMI 's previous reports on legal convergence : in particular , the EMI 's Convergence Report of March 1998 , but also the 1995 and 1996 reports on « Progress towards convergence » and the legal update thereof dated October 1997 .
Dette kapitel er for at begrænse omfanget så koncentreret som muligt .
For the sake of brevity , the content of this chapter is deliberately condensed ;
Undersøgelsen af den nationale lovgivnings forenelighed tager udgangspunkt i observationerne i EMIs Konvergensrapport 1998 og behandler derefter de lovændringer , der er gennemført eller er ved at blive gennemført i Grækenland og Sverige .
the examination of the compatibility of national legislation takes , as a starting-point , the observations made in the 1998 EMI Convergence Report and goes on to consider the legislative amendments enacted , or in the process of being enacted , in Greece and Sweden .
Nedenstående tekst bør derfor læses sammen med de relevante dele af EMIs tidligere rapporter om juridisk konvergens i EU-medlemslandene og især med EMIs Konvergensrapport 1998 .
Accordingly , the following text should be read in conjunction with the relevant parts of the EMI 's previous reports on legal convergence in the EU Member States and , in particular , the 1998 EMI Convergence Report for further clarification .
1.2 Danmark og Storbritannien Denne rapport omhandler kun Grækenland og Sverige , da Danmark og Storbritannien er medlemslande med særlig status .
1.2 Denmark and the United Kingdom This Report is restricted to Greece and Sweden , since Denmark and the United Kingdom are Member States with a special status .
Rækkevidden af tilpasning tilfælde af uforenelighed med hensyn til centralbankuafhængighed . Denne rapport indeholder derfor ikke en gentagelse af de karakteristiske træk ved centralbankuafhængighed , der blev beskrevet indgående i EMIs Konvergensrapport 1998 , men henviser blot dertil .
References to the Treaty and to the Statute of the ESCB are references to the Treaty establishing the European Community ( as amended by the Treaty of Amsterdam ) and to the Statute of the European System of Central Banks and of the European Central Bank , unless otherwise indicated . See footnote 1 .
2.1 Områder for tilpasning Med henblik på at afdække de områder , hvor tilpasning af national lovgivning er nødvendig , sondres der mellem : -- NCBernes uafhængighed ( se især traktatens artikel 108 og ESCB-statuttens artikel 7 og 14.2 ) , -- NCBernes juridiske integration i ESCB ( se især ESCB-statuttens artikel 12.1 og 14.3 ) og -- anden lovgivning end NCB-statutter . 2.3 „Forenelighed » over for „harmonisering » I traktatens artikel 109 fastsættes , at den nationale lovgivning skal være „forenelig » med traktaten og ESCB-statutten .
ECB Convergence Report -* 2000 adopt the single currency on 1 January 1999 ( a situation which has not changed ) , certain provisions of the Treaty ( including Articles 108 and 109 ) and of the Statute of the ESCB do not apply to the United
Udtrykket „forenelig » indikerer , at traktaten ikke kræver „harmonisering » af NCB-statutter , hverken indbyrdes eller med ESCB-statutten . Nationale særegenheder kan fortsat eksistere .
Kingdom . Accordingly , there is no current legal requirement to ensure that national legislation ( including the Statute of the Bank of England ) is compatible with the Treaty and the Statute of the ESCB .
ESCB-statuttens artikel 14.4 tillader NCBer at udføre funktioner , som ikke er nævnt i ESCB-statutten , i det omfang disse ikke strider mod ESCBs mål og opgaver . Bestemmelser , der giver mulighed for sådanne yderligere funktioner , ville være et klart eksempel på tilfælde , hvor forskelle i NCB-statutter fortsat kan eksistere .
2 Scope of adaptation concluded that , if the amendments entered into force as they were presented to the EMI in a consultation procedure under Article 117 of the Treaty , there would be no remaining incompatibilities in the area of central bank independence .
Udtrykket „forenelig » betyder snarere , at den nationale lovgivning og NCB-statutterne skal tilpasses , så uoverensstemmelser med traktaten og ESCB-statutten fjernes , og NCBerne integreres i ESCB i det nødvendige omfang .
A review of the present situation ( see Section 5.2 below ) shows that , although minor changes of a mainly presentational nature have occurred , the amendments indeed entered into force on 1 January 1999 and there are , therefore , no remaining incompatibilities in the area of central bank independence .
Selv om nationale traditioner fortsat kan eksistere , skal der navnlig ske en tilpasning af alle bestemmelser , der krænker en NCBs uafhængighed som defineret i traktaten og dens rolle som en integrerende del af ESCB .
Therefore , this Report will not reproduce the features of central bank independence described extensively in the 1998 EMI Convergence Report to which reference may be made .
Traktaten og ESCB-statutten indeholder krav om , at enhver form for uforenelighed med traktaten og ESCBstatutten i national lovgivning skal fjernes . Denne forpligtelse berøres hverken af traktatens og ESCB-statuttens forrang for national lovgivning eller af uforenelighedens art. Forpligtelsen i traktatens artikel 109 gælder alene uforenelighed med bestemmelser i traktaten og ESCB-statutten .
2.1 Areas of adaptation For the purpose of identifying those areas in which adaptation of national legislation is necessary , a distinction is made between : -- the independence of NCBs ( see in particular Article 108 of the Treaty and Articles 7 and 14.2 of the Statute of the ESCB ) ; -- the legal integration of NCBs into the ESCB ( see in particular Articles 12.1 and 14.3 of the Statute of the ESCB ) ;
Derfor omhandler denne rapport ikke den nødvendige tilpasning af national lovgivning i forbindelse med euroens indførelse som følge af Rådets forordnin -
and -- legislation other than statutes of NCBs .
2.2 Centralbankuafhængighed I EMIs Konvergensrapport 1998 blev centralbankuafhængighed behandlet meget indgående .
2.2 Central bank independence The 1998 EMI Convergence Report dealt extensively with central bank independence .
1 . juni 1998 ) , hvilket indebar , at de respektive ændringer ikke alene skulle være vedtaget , men også trådt i kraft på dette tidspunkt .
It stated , inter alia , that incompatibilities in this area needed to be effectively removed at the latest on the date of the ESCB 's establishment ( i.e. on 1 June 1998 ) , which implied that the respective amendments should not only have been adopted , but should also have entered into force by that date .
Hvad angår Grækenland , konkluderede EMI , at dette krav var opfyldt , og at der ikke længere var tale om tilfælde af uforenelighed med hensyn til centralbankuafhængighed .
With regard to Greece , the EMI concluded that this requirement had been fulfilled and that there were no remaining incompatibilities in the area of central bank independence .
En vurdering af den aktuelle situation ( se afsnit 5.1 nedenfor ) viser , at dette stadig er tilfældet .
A review of the present situation ( see Section 5.1 below ) shows that this has not changed .
Hvad angår Sverige , bemærkede EMI , at ovennævnte krav ikke var opfyldt , da de ændringer i statutten for Sveriges Riksbank , der skal sikre bankens uafhængighed , stadig ikke var vedtaget og først ville træde i kraft den 1 .
With regard to Sweden , the EMI noted that the above requirement had not been fulfilled , since amendments to the Statute of Sveriges Riksbank , purported to ensure its independence , were still pending before Parliament and would only enter into force on 1 January 1999 .
januar 1999 .
The EMI also 2.3 « Compatibility » versus « harmonisation » Article 109 of the Treaty requires national legislation to be « compatible » with the Treaty and the Statute of the ESCB .