natgillin/translations-raw huggingface dataset:
Men hvilke er de? Det er de yderst velkendte strukturproblemer, der advarer os om, at operationen i forbindelse med vekselkurserne i sig selv ikke er nok; det er nødvendigt at behandle spørgsmålene i forbindelse med reservevalutaen, der allerede er blevet understreget.
In stressing the interlocking nature of the causes of monetary read justment, I wanted to draw attention in particular to the need to coordinate the measures to be taken to rectify the very distinct weakness of monetary Europe in recent weeks.
Hvordan kan man foregive, at en valuta som dollaren, der kun har for pligtelser indadtil — og undertiden er det, som vi ved, forpligtelser, der mere er baseret på spillekort end på granithvordan kan man foregive, at denne valuta kan garantere ligevægten i et internationalt monetært system, der ikke har eksisteret i 23 år?
It is quite wrong to hide from reality by pretending that such and such a measure in isolation can restore confidence in the EMS.
Hvordan kan man foregive, at valutaerne kan klare dette længe, kan udsuge hinanden, som det er sket?
The present situation calls for overall measures.
Denne sidste epidose har kostet en svag valuta som liren mere end tusind milliarder lire fra reserven, som er blevet »brændt af«, uden at man rigtig ved til hvad.
We can try to order these measures as follows according to their degree of feasibility: The first would be a drive to complete the EMS.
Hvordan kan man foregive, at de mange renteniveauer og renteforskelle ikke befordrer og ikke til skynder til spekulation?
The slowness of progress on the way to completing the EMS has been brought home to us only too forcefully here already for me to need to go over it again.
Hvordan kan man foregive, at mangelen på et virkeligt monetært og finansielt samarbejde kan undgå at blive en byrde og en af gørende strukturel faktor?
Since the few minor changes that were agreed to at the meeting of Ministers in Palerma, the prospects have not improved.
Hvis begivenhederne i de seneste uger ikke har tjent andet formål, så har de i det mindste vist, at ingen — lige meget hvor stor deres stolthed er — alene er i stand til at forsvare en kamp, der er tabt på forhånd.
Now, as several motions for resolutions before the House today assert, it is urgent for a number of noninstitutional improvements to be made to the EMS, in particular those concerning arrangements for intramarginal intervention operations, which have already been referred to, and which have too often taken place in dollars and not in a Community currency, or those
Den manglende færdiggørelse af det europæiske monetære system og dets heraf følgende svaghed er i dag indlysende.
First let us take the external causes. The principal cause, at least on the surface, of the monetary fluctuations in recent weeks, has been the very steep fall in the exchange-rate of the dollar, interspersed with alarmist commentaries by the American authorities on the budget deficit and the United States trade balance.
Endnu en gang må man konstatere en mangel på europæisk monetær politik over for dollaren, en mangel der blev særlig synlig under de seneste måneders udarbejdelse af den amerikansk-japanske aftale — G2-, og herfra stammer Fællesskabets lidt ydmygende afhængighed på det monetære plan.
The crisis of confidence in the dollar has thus forced the banks to intervene to stabilize the EMS currencies. Despite the use of the very short-term financing facilities provided for under the EMS, the need for a realignment has nevertheless had to be acknowledged.
Det andet punkt og middel til afhjælpning af situationen er forøget konvergens mellem medlemsstater nes økonomier og det tredje punkt en fælles holdning over for dollaren.
Besse calling for the definitive transfer of 20% of reserves to the EMCF, or for a ceiling on ECUs placed in circulation. tion.
Franz (PPE). — (DE) Hr. formand, det europæiske monetære system har på trods af al kritik udviklet sig, til at holde Det europæiske Fællesskab sammen.
But it must also be said that it is difficult to understand why there are still restrictions on the private use of the ECU in the Federal Republic.
Det har ført til en stabil zone i en verden med store valutasvingninger.
It is not possible to explain convincingly to anyone why people can open pound sterling or US dollar accounts in Germany whereas if German nationals need ECU accounts for their business transactions, they have to open them in Brussels, Luxembourg or Hongkong.
Mere en 40% af udenrigshandelen i Det europæiske Fællesskabs lande kan afvikles til re lativt stabile kurser.
The German restrictions, which as Karl Otto Pohl rightly says are not dogma, are widely regarded in other countries as an example of a German egoism, German reluctance to accept progress in the European Community, as an alibi for Germany's own mistakes but also as grounds for wrongly alleging that the Federal Republic is only halfhearted in its support of the EMS and the ECU.
Udover de ydre valutamæssige årsager — dollarens situation, Uroen i det internationale valutasystem og EMS' svaghed — er der en utilstrækkelig konvergens mellem medlemsstaternes økonomier til fordel for større vækst.
Today we might well ask if the weakening of the EMS on account of the instability of the system is not such as ultimately to threaten the stability of the private ECU system.
Den næsegrus beundring af DM'en illustrerer på grusom vis den manglende succes for Kommissionens samarbejdsstrategi til vækst og den utilstrækkelige økonomiske solidaritet og konvergens mellem staterne i Fællesskabet.
In fact, the EMS is being more and more steadily converted into a German mark area, with all the disruption that imbalance represents for Germany's neighbours, accentuating the 'Finlandization' of their economies.
Ideen om en fælles europæisk valuta, som næsten den overvejende del af befolkningen i Det europæiske Fællesskab er positiv indstillet over for, har som følge af, at det europæiske monetære system fungerer godt, fået et mærkbart opsving.
The second point and the second remedy would be increased convergence of the economies of the Mem ber States for more growth, and the third a common position in response to the dollar.
Den tyske forbundsbankpræsident har ret i, at For bundsrepublikken føler sig som et loyalt medlem af EMS, der uden undtagelse opfylder de i fællesskab aftalte pligter.
The EMS has helped lower inflation rates and bring financial stability to the EEC Member States.
Der rejser sig blot det spørgsmål, om dette er tilstrækkeligt, hvis vi anser en styrkelse af det europæiske monetære system for nødvendig.
The Minister of Finance rightly pointed out that no complicated changes of law would be needed in order to lift the restrictions, but only a new interpretation of Article 3 of the Currency Law.
Man skal ikke tilsløre virkeligheden og udbrede den opfattelse, at en isoleret foranstaltning kan gen oprette tilliden til EMS.
FRANZ (PPE). — (DE) Mr President, despite all the criticism, the European Monetary System has proved to be a cornerstone of the European Community.
Den nuværende situation kræver samlede foranstaltninger.
It has produced an area of stability in a world of major currency fluctuations.
Man kan forsøgsvis opstille foranstaltningerne i nedenstående rækkefølge efter deres grad af gennemførlighed.
More than 40% of the foreign trade of the Member States of the European Com munity can be carried out with relatively stable rates.
Den første er færdiggørelsen af EMS.
Nor were any other serious drawbacks to be found.
Den langsomhed, hvormed færdiggørelsen af EMS finder sted er allerede blevet fremhævet, så jeg skal ikke opholde mig længe ved dette punkt. Efter at der blev truffet beslutning om nogle få mekanismer på ministermødet i Palermo, har der næppe været nogen perspektiver.
So once again, our request, our call to the Deutsche Bundesbank is: Let the words of Gerhard Stoltenberg and Karl Otto Pohl be followed by deeds; lift these restrictions; quickly do that at least as a sign of your will to integration, for the sake of progress in Europe!
Det må imidlertid også nævnes, at de begrænsninger, der fortsat findes for den private anvendelse af ECU i Forbundsrepublikken, er uforståelige.
On that occasion, Karl Otto Pohl rightly referred to the great contribution the German central bank makes to European monetary cooperation.
Ofte opfattes de tyske be grænsninger, der med rette ikke er noget dogme for Karl Otto Pohl, af andre lande som et eksempel på tysk egoisme, tysk tilbageholdenhed i forbindelse med fremskridt i Det europæiske Fællesskab, som et alibi for egne fejl, men også som grundlag for den forkerte påstand om, at Forbundesrepublikken kun halvhjertet står bag EMS og UCU.
It was rightly pointed out that it is urgently necessary to include the pound sterling in the EMS exchange rate mechanism; it would also be desirable to include the currencies of those other EEC Member States which have not yet joined the EMS and to abolish all capital transaction controls and the higher margin of fluctuation of the exchange rate of the Italian lira.
Man har hidtil hævdet, at udviklingen af den private ECU uundgåeligt ville medføre, at den officielle ECU og EMS blev styrket.
It is certainly true that we should not disparage the European Monetary System too much.
I dag kan man spørge sig selv, om den private ECU ikke er truet som følge af svækkelsen af EMS og forværringen i systemets ustabilitet.
There has been far less volatility of currencies in Europe than if there had been no EMS, and I also believe that as a result we have lower interest rates than we would have if there were no EMS.
Stabilitet er faktisk den største fordel ved ECU'en, og det er let at forstå, hvorfor operationerne i ECU af lidt mindre omfang i den seneste tid.
But it is also true that the latest realignment has illustrated the defects of the present system.
Det er lideledes helt sikkert, at det europæiske monetære systems aktuelle tilstand forsyner modstanderne af pund ster lings indtræden i EMS med argumenter, hvilket ellers delvis kunne bringe ligevægt i systemet igen.
There have in fact been four realignments in the past one and a half years, and the last one, I am afraid, one could only describe as messy.
EMS bliver mere og mere til et DM-ilråde med alle de skadevirkninger for naboerne til Forbundsrepublikken Tyskland til følge, somdenne uligevægt giver an ledning til, idet deres økonomier »finladndiseres».
It is clear that speculators made money by a one-way option of buying Deutschmarks and selling French francs.
Må jeg spørge, hvad er der sket med anden etape af EMS'en?
It is difficult not to conclude, therefore, that the European Mone tary System needs strengthening.
den private anvendelse af ECU vil blive ophævet.
May I say the following about these matters.
EMS har medvirket til at sænke inflationstakten og til EF-medlemsstaternes stabilitetspolitik.
The realignment of the EMS central rates on 12 January differs from previous central rate adustments in two respects.
Finansministeren gjorde med rette opmærksom på, at det med henblik på en ophævelse af begrænsningen ikke er nødvendigt med omstændelige lovændringer, men kun en ny fortolkning af valutalovens artikel 3.
First, the earlier corrections to the central rates were always the consequence of the different trends of the basic economic data in the Member States.
Vor tværpolitiske arbejdsgruppe » Europæisk valuta « har i de seneste to år i alle enkeltheder påvist, at der ikke er nogen risiko for inflation som følge af ophævelsen af den tyske begrænsning. Der ser heller ikke ud til at være andre graverende ulemper.
Secondly, in comparison to internal factors, external factors had a decisive influence on the realignment of the rates in January, namely the fall of the dollar rate from the already low level of DM 2.03 in mid-December to DM 1.92 on 9 January.
Vor anmodning, vort krav er således også i dag rettet mod den tyske forbundsbank: Sæt handling bag Gerhard Stoltenbergs og Karl Otto Pöhls ord, ophæv disse be grænsninger, giv hurtigt i det mindste denne impuls til vilje til enhed, til fremskridt i Europa!
That led to considerable tension between the Deutschmark and the Dutch guilder on the one hand and the rest of the currencies in the exchange rate mechanism on the other.
Da jeg er den eneste talsmand for Storbritannien ind til nu, er jeg blevet spurgt: Hvad med pundet?
In his resolution and in the compromise resolution Mr Herman puts forward a series of very modest pro posals in paragraph 4.
Jeg mener ligesom hr. Herman det modsatte.
Of course we support them, but I ask this question of the Commission.
Pundet er med i det europæiske monetære system.
What has happened to the second stage of the European Monetary System?
Jeg læser i avisen, at en hr. Geoffrey Littler var dybt involveret i for handlingerne om justeringen i det europæiske monetære udvalg.
My calculations say that the second stage of the European Monetary System should have come into effect six years ago.
Hans stilling ville have været en hel del stærkere, hvis pundet allerede havde været med i det europæiske monetære system.
Had it done so, we should have had a European Monetary Fund with permanently available reserve which would have prevented these effects from taking place and we would have had the basis for a common European policy vis-à-vis the dollar and vis-à-vis the yen.
Patterson (ED). — (EN) Hr. formand, må jeg begynde med at minde Parlamentet om, hvad hr. Tindemans har fortalt os her i eftermiddag.
With the disappearance of a whole range of provisions to regulate the foreign exchange markets and to restrict capital transactions in France and Italy since early 1986, capital mobility has clearly increased compared with the first seven years of the EMS.
Han sagde, at det ikke nytter at klage over virkningen af faldet i dollaren, det er vor egen skyld, fordi vi ikke har skabt en europæisk valutaunion. Han spurgte retorisk, hvor direktøren for den europæiske centralbank var henne, da krisen kom.
Since December 1986, the pressure exerted by the dollar on the cohesion of the EMS has been further increased by two politico-economic factors within the Community, by unexpected strikes and by student unrest in one Mem ber State and by the expectation in another that the exchange rates would be revalued after the forthcoming elections.
For det andet mener jeg, at konklusionen er langt mere vidtgående.
I was asked, as I am the only British spokesman so far, what about sterling?
Hvis pundet havde været med i kursmekanismen, ville det ikke blot have været den tyske mark, som havde lidt under dollarens fald, men også pundet.
There has been a certain amount of comment that the recent events have weakened the case for sterling entering the ERM.
Med andre ord ville pundet selv have afbalanceret kurserne.
I believe the opposite, like Mr Herman.
Vi ser frem til en hurtig ændring af situationen, når vi har vundet det næste valg i mit land.
Sterling is in the European Monetary System.
Van Dijk (ARC). - (NL) Hr. formand, vi er ikke imod aftaler som led i EMS, da disse i det mindste bruges til at beskytte befolkningen mod dollarkursens uberegneligheder.
I read in my newspapers that a Mr Geoffrey Littler was closely involved in the negotiations on the realignment within the European Monetary Committee.
Den forelagte kompromisbeslutning har imidlertid et indhold, der varetager banker nes interesser, og som tilstræber en udvikling på det økonomiske og monetære samarbejdes område, der ikke er i en alternativ politiks interesse, som vi for står den. Derfor vil vi forkaste den forelagte kompromisbeslutning. misbeslutning.
His position would have been a great deal stronger had sterling already been inside the European Monetary System in the first place, but it also strengthens Mr Herman's case that here is a British official participating in the realignment discussions when sterling is not participating in the exchange rate mechanism.
Det er bestemt rigtigt, at vi ikke bør tale alt for ned sættende om det europæiske valutasystem.
Secondly, I think the conclusion is much more pointed.
Der har været langt mindre svingninger i valutakurserne i Europa end hvis der ikke havde været nogen EMS, og jeg tror også, at vi som resultat heraf har lavere ren tesatser, end vi ville have laft, hvis der ikke var nogen EMS.
Had sterling been in the exchange rate mechanism, it would have been not merely the Deutschmark which would have suffered the effects of the dollar decline but also sterling.
Men det er også rigtigt, at den sidste justering har vist svaghederne i det nuværende system.
In other words, sterling would have balanced the exchange rate mechanism itself.
Det er klart, at spekulanterne tjente penge på den særdeles lette løsning at købe tyske mark og sælge franske franc.
We look forward to a rapid change ,in the situation once we have successfully won the next general election in my country.
Lad os se på årsagerne. Det var tydeligt nok valuta systements sårbarhed over for udefra kommende be givenheder, som fremskyndede denne krise.
During the discussions in Brussels, these factors had to be looked at against the backdrop of the trend of the basic economic data since the last central rate correction in Otmarsum in April 1986.
Da dollaren faldt, gik man over til mark, og det var grunden til, at det var nødvendigt at foretage en justering.
It emerged that the trends of the economic indices of competitiveness, i.e. prices and costs, in the various Member States were rather similar.
Det er derfor vanskeligt ikke at konkludere, at der er behov for en styrkelse af det europæiske valutasystem. stem.
In the eyes of the foreign exchange market operators, these differences may have overshadowed the successes achieved with the convergence of prices and costs.
Narjes, næstformand i Kommissionen. — (DE) Jeg vil gerne indledningsvis henvise til forhandlingen i for middags, hvor man kom ind på valutasamarbejdet og udviklingen i det monetære system, og især også til hr. Delors' indlæg, herunder hans bekendtgørelse, at Kommissionens årsprogram vil blive offentliggjort den 18. februar.
VAN DIJK (ARC). — (NL) Mr President, we are not opposed to agreement within the EMS frame work, if that framework is at least used to protect the population from the vagaries of the dollar exchange rate.
Vedrørende de spørgsmål tillader jeg mig at konstatere følgende: Den nye fastsættelse af centralkurserne i EMS den 12. januar adskiller sig fra tidligere centralkurstilpasninger i to henseender.
The tenor of the compromise resolution put for ward, however, seeks to safeguard the interests of the banks and to pursue developments in the field of economic and monetary cooperation which are not in the interests of an alternative policy as we understand it.
I sit forslag til beslutning og i det fælles forslag til beslutning fremsætter hr. Herman en række yderst beskedne forslag i punkt 4.
In view of the external pressure on the EMS and the negligible divergence of the economic indices, the Brussels decisions can be regarded as a technical reaction to the turbulent exchange rate relations outside the EMS.
Naturligvis støtter vi dem, men jeg vil gerne stille følgede spørgsmål til Kommissionen : Hvad er der sket med anden etape af det europæiske monetære system?
Their technical character is reflected both by the narrowness of the difference between the old and the new central rates and by the direction of the rate adjustment.
Efter mine beregninger burde den være begyndt for seks år siden. Hvis det var sket, ville vi have haft en europæisk valuta fond med permanente reserver, som ville have for
The description of the central rate adjust ment as a revaluation of the Deutschmark, the Dutch guilder and the Belgian and Luxembourg franc makes it clear that the internal efforts to achieve convergence within the Community are not in danger.
blev ophævet, selv ikke under de overordentlig spekulative spændinger på valutamarkederne, er efter Kommissionens mening et positivt tegn på, at den politiske vilje er til stede.
Mrs Lenz on behalf of the Group of the European People's Party, Mr Cervetti and others, on behalf of the Communist and Allies Group, Mrs Veil and Mr Gawronski, on behalf of the Liberal and Democratic Reformist Group, and Mr Schwalba-Hoth and Mr Staes, on behalf of the Rainbow Group, on the Ministerial Conference in Guatemala City.
Ud fra communiqueet fra januar kan man slutte, at ministrene er enige i denne vurdering af centralkurstilpasningen.
The fact that the Belgian and Luxembourg franc was also upvalued reflects the very remarkable results achieved in Belgium and Luxembourg in the area of price level stability, production costs and balance on current account.
De henviser til, at de vil fortsætte· koordineringen af deres politik, og har desuden op fordret den monetære komité og udvalget af centralbankdirektører til at undersøge foranstaltninger til en styrkelse af funktionsmekanismerae.
But just because of its technical character as a reaction to the instability of the international monetary system caused by the dollar, the realignment of the central rates can only be successful if it does not remain an isolated measure.
I denne forbin delse er det efter Kommissionens mening vigtigt at fremme ECUens internationale rolle.
It must be backed by con stant efforts to maintain and expand the cooperation between the Member States in their economic and monetary policy.
Med bortfaldet i begyndelsen af 1986 af en lang række bestemmelser i Frankrig og Italien til reglementering af valutamarkederne og begrænsning af kapital transaktionerne, er kapitalmobiliteten blevet væsentligt større i Fællesskabet i sammenligning med EMS's første syv år.
Doc. B2-1449/86 by Mr Kuijpers and Mr Vandemeulebroucke, on behalf of the Rainbow Group, on the position of the European Community on the Conference with countries of Central America and the Contadora Group in Guatemala in February. ary.
Fra december blev det pres, som dollaren udøvede på sammenholdet i EMS, desuden yder ligere forstærket af to politisk-konjunkturelle faktorer i Fællesskabet, i det ene tilfælde som følge af uforudsete arbejdsnedlæggelser, studenteruroligheder i én medlemsstat og som følge af visse forventninger i ret ning af en nyfastsættelse af valutakurserne efter det nært forestående valg i en anden.
The Commission regards the fact that the progress in liberalizing capital transactions was not reversed even in face of the extremely speculative tensions on the foreign exchange markets as a positive sign of the necessary political resolve that exists.
Centralkurstilpasningen har trods dollarkursens yder ligere tydelige nedgang indtil videre igen skabt ro i EMS's valutakursrelationer.
LOMAS (S). — Mr President, this is a motion that can receive, I think, the support of the whole House and can help to develop further our relations with Central America.
Den forholdsvis minimale justering af centralkurserne gør det muligt, at markedskurserne mellem de valutaer, der deltager i valutakursmekanismen, kan udvikles kontinuerligt.
There has been some progress recently in this region with the signing of the cooperation agreement between the European Community and the Central American nations.
Formanden. — Forhandlingen under ét er afsluttet.
Here, the Commission thinks it is important to promote the international role of the ECU.
(Ved successive afstemninger vedtoges ændringsforslag nr. 1 (l), der trådte i stedet for beslutningsforslag dok.
It would be surprising if there were not differences in a delegation made up of socialists and members who are not socialists.
Disse nævnte faktorer skulle under drøftelsen i Bru xelles ses på baggrund af udviklingen i de økonomis ke nøgletal efter den sidste centralkursjustering i Otmarsum i april 1986.
So far, the central rate adjustment has restored peace to exchange rate relations in the EMS in spite of a further marked fall in the dollar rate.
Det viste sig her, at nøgletallene for konkurrenceevnen, dvs. priser og omkostninger, i vidt omfang har udviklet sig ensartet i medlemsstaterne.
This relatively slight correction to the central rates allows the market rates of the currencies within the ERM to develop at a steady rate.
B2-1412/86, B2-1414/86, B2-1426/86 og B2-1448/86 og forkastedes forslag til beslutning dok.
No I1replacing motions for resolutions Docs. B2-1412/86, B2-1414/86, B2-1426/86 and B2-1448/86 with a new