natgillin/translations-raw huggingface dataset:
ÄåäïìÝíïõ üôé ï ëüãïò ôïõ ÷ ñÝïõò õðåñâáßíåé óÞìåñá ôï 75 % ôïõ ÁÅÐ , ç åðßôåõîç ôïõ óõíïëéêïý ðëåïíÜóìáôïò ðïõ ðñïâëÝðåôáé ãéá ôï 1998 êáé ç äéáôÞñçóÞ ôïõ ôá åðüìåíá Ýôç èá ìðïñïýóáí íá åðéöÝñïõí ìåßùóç ôïõ ëüãïõ ôïõ ÷ ñÝïõò óå åðßðåäï ÷ áìçëüôåñï ôïõ 60 % ôïõ ÁÅÐ ôï 2003 .
Given the current debt ratio of above 75 % of GDP , achieving the overall surplus forecast for 1998 and maintaining it in subsequent years would reduce the debt ratio to below 60 % of GDP in 2003 .
Ùò ðñïò ôïõò Üëëïõò ðáñÜãïíôåò , ï ëüãïò ôïõ åëëåßììáôïò õðåñÝâç ôï ëüãï äçìüóéùí åðåíäýóåùí / ÁÅÐ ôï 1996 , åíþ õðï ÷ þñçóå êÜôù áðü ôï åðßðåäï áõôü ôï 1997 .
With regard to other factors , the deficit ratio exceeded the ratio of public investment to GDP in 1996 , while falling below that level in 1997 .
Ìå ôçí ðñïûðüèåóç üôé ôï íïìïó ÷ Ýäéï , ãéá ôï óêïðü áõôü , èá øçöéóôåß üðùò åß ÷ å óôéò 24 Ìáñôßïõ 1998 , óôï êáôáóôáôéêü ôçò ÔñÜðåæáò èá áðïìåßíïõí äýï áóõìâáôüôçôåò ìå ôïõò üñïõò ôçò ÓõíèÞêçò êáé ôïõ Êáôáóôáôéêïý ãéá ôï Ôñßôï ÓôÜäéï .
Assuming that the draft law to this effect is adopted as it stood on 24 March 1998 , there will be two remaining incompatibilities with Treaty and Statute requirements for Stage Three in the Bank s statute .
3.15 ÇíùìÝíï Âáóßëåéï Óýìöùíá ìå ôïõò üñïõò ôïõ Ðñùôïêüëëïõ áñéè . 11 ôçò ÓõíèÞêçò , ôï ÇíùìÝíï Âáóßëåéï Ý ÷ åé ãíùóôïðïéÞóåé óôï Óõìâïýëéï ôçò ÅÅ üôé äåí ðñïôßèåôáé íá óõììåôÜó ÷ åé óôï Ôñßôï ÓôÜäéï ôï 1999 .
3.15 United Kingdom The United Kingdom , in accordance with the terms of Protocol No. 11 of the Treaty , has notified the EU Council that it does not intend to move to the third stage in 1999 .
ÊáôÜ ôçí ðåñßïäï áíáöïñÜò , ôï ÇíùìÝíï Âáóßëåéï ðÝôõ ÷ å ðëçèùñéóìü ( ÅíÄÔÊ ) 1,8% , äçë . áñêåôÜ ÷ áìçëüôåñï áðü ôçí ôéìÞ áíáöïñÜò ðïõ ðñïâëÝðåé ç ÓõíèÞêç .
Over the reference period the United Kingdom has achieved a rate of HICP inflation of 1.8% , which is well below the reference value stipulated by the Treaty .
¼ óïí áöïñÜ ôéò ðñïïðôéêÝò , ðñïâëÝðåôáé ðëçèùñéóìüò 2-2 , 5 % ôï 1998 êáé ôï 1999 .
Looking ahead , forecasts project inflation at 2-2‰ % in 1998 and 1999 .
Ôï åðßðåäï ôùí ìáêñïðñüèåóìùí åðéôïêßùí Þôáí 7,0% , äçë . êÜôù áðü ôçí áíôßóôïé ÷ ç ôéìÞ áíáöïñÜò .
The level of long-term interest rates was 7.0% , i.e. below the respective reference value .
Ôï 1997 ôï ÇíùìÝíï Âáóßëåéï ðÝôõ ÷ å ëüãï äçìïóéïíïìéêïý åëëåßììáôïò 1,9% ôïõ ÁÅÐ , äçë . åðßðåäï áñêåôÜ êÜôù áðü ôçí ôéìÞ áíáöïñÜò , êáé õðÜñ ÷ åé ðñïïðôéêÞ ãéá ðåñáéôÝñù ìåßùóç óå 0,6% ôï 1998 .
23 In 1997 the United Kingdom achieved a fiscal deficit ratio of 1.9% of GDP , i.e. a level well below the reference value , and the outlook is for a further decline to 0.6% in 1998 .
ÅðéðëÝïí , ï ëüãïò ôïõ äçìüóéïõ ÷ ñÝïõò ìåéþèçêå óå 53,4% ôïõ ÁÅÐ ôï 1997 , 29 ðáñáìÝíïíôáò Ýôóé êÜôù áðü ôçí ôéìÞ áíáöïñÜò 60 %, êáé õðÜñ ÷ åé ðñïïðôéêÞ ãéá ðåñáéôÝñù ìåßùóç óôï 52,3% ôï 1998 .
In addition , the fiscal debt ratio decreased to 53.4% of GDP in 1997 , thus remaining below the 60 % reference value and the outlook is for a further decline to 52.3% in 1998 .
¼ óïí áöïñÜ ôç äéáôçñçóéìüôçôá ôùí äçìïóéïíïìéêþí åîåëßîåùí óôï ìÝëëïí , áí ðñáãìáôïðïéçèïýí ôá ðñïâëåðüìåíá äçìïóéïíïìéêÜ áðïôåëÝóìáôá , ôï ÇíùìÝíï Âáóßëåéï èá ðñÝðåé íá åßíáé óå èÝóç íá áíôáðïêñéèåß óôï ìåóïðñüèåóìï óôü ÷ ï ôïõ Óõìöþíïõ Óôáèåñüôçôáò êáé ÁíÜðôõîçò ðïõ èá ôåèåß óå éó ÷ ý áðü ôï 1999 , âÜóåé ôïõ ïðïßïõ ç ÷ þñá ðñÝðåé íá äéáèÝôåé ó ÷ åäüí éóïóêåëéóìÝíï Þ ðëåïíáóìáôéêü ðñïûðïëïãéóìü , êáé ï ëüãïò ôïõ ÷ ñÝïõò èá ìðïñïýóå íá ìåéùèåß ðåñáéôÝñù êÜôù áðü 60 %. Ùò ðñïò ôïõò Üëëïõò ðáñÜãïíôåò , ôï ÇíùìÝíï Âáóßëåéï ðñáãìáôïðïßçóå ìéêñü
Regarding the sustainability of fiscal developments , looking ahead , with fiscal balances as projected , the United Kingdom should comply with the medium-term objective of the Stability and Growth Pact , effective from 1999 onwards , of having a budgetary position that is close to balance or in surplus , and the debt ratio would fall further below 60 %.
ðëåüíáóìá óôï éóïæýãéï ôñå ÷ ïõóþí óõíáëëáãþí ôï 1997 êáé Ý ÷ åé èåôéêÞ êáèáñÞ åîùôåñéêÞ èÝóç .
With regard to other factors , the United Kingdom has recorded a small current account surplus in 1997 , and has a net foreign asset position .
1996 1997 ( ä ) 1998 ( å ) Äáíßá ( óô ) 1996 1997 ( ä ) 1998 ( å ) Ãåñìáíßá 1996 1997 ( ä ) 1998 ( å ) ÅëëÜäá 1996 1997 ( ä ) 1998 ( å ) Éóðáíßá 1996 1997 ( ä ) 1998 ( å ) Ãáëëßá 1996 1997 ( ä ) 1998 ( e ) Éñëáíäßá 1996 1997 ( ä ) 1998 ( å ) Éôáëßá 1996 1997 ( ä ) 1998 ( å ) Ëïõîåìâïýñãï 1996 1997 ( ä ) 1998 ( å ) Ïëëáíäßá 1996 1997 ( ä ) 1998 ( å ) Áõóôñßá 1996 1997 ( ä ) 1998 ( å ) Ðïñôïãáëßá 1996 1997 ( ä ) 1998 ( å ) Öéëáíäßá 1996 1997 ( ä ) 1998 ( å ) Óïõçäßá 1996 1997 ( ä ) 1998 ( å ) ÇíùìÝíï 1996 Âáóßëåéï 1997 ( ä ) 1998 ( å )
United Kingdom 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d ) 1996 1997 1998 ( d )
Ðëçèùñéóìüò Ìáêñïðñüèåóìï âÜóåé ôïõ åðéôüêéï ( â ) ÅíÄÔÊ ( á ) 1,8 6,5 1,4 5,7 2,1 7,2 1,9 6,2 1,2 6,2 1,4 5,6 7,9 14,4 5,2 9,8 3,6 8,7 1,8 6,3 2,1 6,3 ** ** 1,2 5,5 2,2 7,3 *** *** 1,2 6,2 4,0 9,4 1,8 6,7 *** *** 1,2 6,3 1,4 5,6 1,4 6,2 1,8 5,5 1,8 6,3 * * 1,1 5,6 2,9 8,6 1,8 6,2 ** ** 1,1 7,1 1,3 5,9 * * 0,8 8,0 1,9 6,5 2,5 7,9 1,8 7,0 -
1.8 1.5 1.4 2.1 1.9 1.9 1.2 1.5 1.4 7.9 5.4 5.2 3.6 1.9 1.8 2.1 1.3 1.2 2.2 1.2 1.2 4.0 1.9 1.8 1.2 1.4 1.4 1.4 1.9 1.8 1.8 1.2 1.1 2.9 1.9 1.8 1.1 1.2 1.3 0.8 1.8 1.9 2.5 1.8 1.8 **
ôïìÝá ( ã ) - 3,2 # - 2,1 # - 1,7 # - 0,7 # 0,7 # 1,1 - 3,4 # - 2,7 # - 2,5 - 7,5 - 4,0 # - 2,2 - 4,6 # - 2,6 # - 2,2 - 4,1 # - 3,0 # - 2,9 # - 0,4 # 0,9 # 1,1 - 6,7 # - 2,7 # - 2,5 # 2,5 # 1,7 # 1,0 # - 2,3 # - 1,4 # - 1,6 - 4,0 # - 2,5 # - 2,3 - 3,2 # - 2,5 # - 2,2 - 3,3 # - 0,9 # 0,3 - 3,5 # - 0,8 # 0,5 - 4,8 # - 1,9 # - 0,6
# # - 3.2 - 2.1 - 1.7 - 0.7 0.7 1.1 - 3.4 - 2.7 - 2.5 - 7.5 - 4.0 - 2.2 - 4.6 - 2.6 - 2.2 - 4.1 - 3.0 - 2.9 - 0.4 0.9 1.1 - 6.7 - 2.7 - 2.5 2.5 1.7 1.0 - 2.3 - 1.4 - 1.6 - 4.0 - 2.5 - 2.3 - 3.2 - 2.5 - 2.2 - 3.3 - 0.9 0.3 - 3.5 - 0.8 0.5 - 4.8 - 1.9 - 0.6
ôïìÝá ( ã ) 126,9 122,2 118,1 70,6 65,1 # 59,5 60,4 61,3 61,2 111,6 108,7 107,7 70,1 68,8 67,4 # 55,7 # 58,0 # 58,1 72,7 66,3 # 59,5 124,0 121,6 118,1 # 6,6 # 6,7 # 7,1 77,2 72,1 70,0 69,5 66,1 64,7 65,0 62,0 # 60,0 # 57,6 # 55,8 # 53,6 76,7 76,6 74,1 # 54,7 # 53,4 # 52,3
# # # 126.9 122.2 118.1 70.6 65.1 59.5 60.4 61.3 61.2 111.6 108.7 107.7 70.1 68.8 67.4 55.7 58.0 58.1 72.7 66.3 59.5 124.0 121.6 118.1 6.6 6.7 7.1 77.2 72.1 70.0 69.5 66.1 64.7 65.0 62.0 60.0 57.6 55.8 53.6 76.7 76.6 74.1 54.7 53.4 52.3
# = Ýëëåéììá åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ðïõ äåí õðåñâáßíåé ôï 3 % ôïõ ÁÅÐ , áêáèÜñéóôï ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ðïõ äåí õðåñâáßíåé ôï 60 % ôïõ ÁÅÐ .
# = General government deficit not exceeding 3 % of GDP ; general government gross debt not exceeding 60 % of GDP .
Ãéá ôçí ÅëëÜäá , âë . õðïóçìåßùóç óôïí Ðßíáêá 12 ôçò ÷ þñáò .
For further explanation of the Greek data , see note in Table 12 for Greece .
( ä ) Ðëçèùñéóìüò ( ÅíÄÔÊ ) êáé ìáêñïðñüèåóìá åðéôüêéá : ÄùäåêÜìçíï Ýùò ÉáíïõÜñéï 1998 .
( d ) Twelve-month period ending January 1998 for HICP inflation and long-term interest rate ;
Ðëåüíáóìá Þ Ýëëåéììá êáé áêáèÜñéóôï ÷ ñÝïò ôïõ åõñýôåñïõ êõâåñíçôéêïý ôïìÝá : ÅõñùðáúêÞ ÅðéôñïðÞ ( ðñïâëÝøåéò Üíïéîçò 1998 ) .
European Commission ( spring 1998 forecasts ) projections for general government surplus or deficit and general government gross debt .
( å ) Ðëåüíáóìá Þ Ýëëåéììá êáé áêáèÜñéóôï ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá : ÐñïâïëÝò ÅõñùðáúêÞò ÅðéôñïðÞò ( ðñïâëÝøåéò Üíïéîçò 1998 ) .
( e ) See footnote ( c ) in Table 4 for Denmark .
õðïóçìåßùóç ( ã ) óôïí Ðßíáêá 4 ãéá ôç Äáíßá .
Denmark Germany ( c )
31 Ðßíáêáò Â
Greece Spain
( ã ) ÅíïðïéçìÝíç Ãåñìáíßá áðü ôï 1992 êáé ìåôÜ .
( c ) Unified Germany from 1992 onwards ;
Éóïæýãéï ôñå ÷ ïõóþí óõíáëëáãþí áðü ôï 1991 êáé ìåôÜ .
current account balance from 1991 onwards .
( ä ) 1997 : ïéêïíïìßá ôçò áãïñÜò .
( d ) 1997 : market economy . 26
ÔéìÞ áíáöïñÜò êáé Åíáñìïí . Äåßêôåò Ôéìþí ÊáôáíáëùôÞ ( 12ìçíïò êéíçôüò ìÝóïò åôÞóéùí åêáôïóôéáßùí ìåôáâïëþí ) ÂÝëãéï Ãåñìáíßá Äáíßá ÅëëÜäá ÔéìÞ áíáöïñÜò * 3 ÷ þñåò ìå ôéò êáëýôåñåò åðéäüóåéò **
Reference value and Harmonised Indices of Consumer Prices ( 12-month moving average of annual percentage changes ) Belgium Denmark 8 Greece Germany Reference value * 3 best performers ** 8 Spain France Italy Ireland Reference value * 3 best performers **
ÔéìÞ áíáöïñÜò * 3 ÷ þñåò ìå ôéò êáëýôåñåò åðéäüóåéò ** Ëïõîåìâïýñãï Áõóôñßá
Portugal Austria Reference value * 3 best performers ** 8
ÔéìÞ áíáöïñÜò * 3 ÷ þñåò ìå ôéò êáëýôåñåò åðéäüóåéò **
United Kingdom Reference value * 3 best performers **
* Ìç óôáèìéêüò áñéèìçôéêüò ìÝóïò ôùí 3 ÷ ùñþí ìå ôï ÷ áìçëüôåñï ðëçèùñéóìü óõí 1,5 åêáôïóô . ìïíÜäá .
* Unweighted arithmetic average of the three best-performing countries according to the price criterion plus 1.5 percentage points .
** Ìç óôáèìéêüò áñéèìçôéêüò ìÝóïò ôùí 3 ÷ ùñþí ìå ôï ÷ áìçëüôåñï ðëçèùñéóìü . 33
** Unweighted arithmetic average of the three best-performing countries according to the price criterion .
ÄéÜãñáììá B ÄçìïóéïíïìéêÜ ìåãÝèç êáé ôéìÝò áíáöïñÜò ôïõ ÌÜáóôñé ÷ ô ( ùò ðïóïóôü ôïõ ÁÅÐ )
Performance in relation to Maastricht Treaty fiscal reference values ( as a percentage of GDP )
á ) Ðëåüíáóìá (+) / Ýëëåéììá (-) åõñýôåñïõ êõâåñíçôéêïý ôïìÝá 1996 1997 1998 ( á ) BEË
( a ) General government surplus (+) / deficit (-) 1996 3 0 - 3 - 6 - 9 BE DK DE GR ES FR IE IT LU NL AT PT FI SE UK 1997 1998 ( a )
BEË ÄÁÍ ( â )
( b ) General government gross debt 140 120 100 80 60 40 20 0 BE DK ( b ) DE GR ES FR IE IT LU NL AT PT FI SE UK
ÇÂ ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ ( ðñïâëÝøåéò Üíïéîçò 1998 ) .
Source : European Commission ( spring 1998 forecasts ) .
( â ) Âë . õðïóçìåßùóç ( ã ) óôïí Ðßíáêá 4 ãéá ôç Äáíßá .
( b ) See footnote ( c ) in Table 4 for Denmark . 28
ÔéìÞ áíáöïñÜò êáé ìáêñïðñüèåóìá åðéôüêéá ( 12ìçíïò êéíçôüò ìÝóïò , ðïóïóôÜ åðß ôïéò åêáôü ) ÂÝëãéï Ãåñìáíßá Äáíßá ÅëëÜäá ÔéìÞ áíáöïñÜò * 3 ÷ þñåò ìå ôéò êáëýôåñåò åðéäüóåéò ** Éóðáíßá Éñëáíäßá
Reference value and long-term interest rates ( 12-month moving average in percentages ) Belgium Denmark 14 13 12 11 10 9 8 7 6 5 Q1 Q2 1997 Luxembourg Netherlands 14 13 12 11 10 9 8 7 6 5 Q1 Q2 1997 Q3 Q4 1998 Portugal Austria Q3 Q4 1998 Reference value * 3 best performers ** 14 13 12 11 10 9 8 7 6 5 Q1 Q2 1997 Q3 Q4 1998 Finland Sweden Greece ( a ) Germany Reference value * 3 best performers ** 14 13 12 11 10 9 8 7 6 5 Q1 Q2 1997 Q3 Q4 1998 Spain France Italy Ireland Reference value * 3 best performers **
ÔéìÞ áíáöïñÜò * 3 ÷ þñåò ìå ôéò êáëýôåñåò åðéäüóåéò **
Reference value * 3 best performers **
Óïõçäßá ÇíùìÝíï Âáóßëåéï 3 ÷ þñåò ìå ôéò êáëýôåñåò åðéäüóåéò ** ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ .
Source : European Commission .
( á ) Âë . åðåîÞãçóç óôïí Ðßíáêá 12 ãéá ôçí ÅëëÜäá .
( a ) For further explanation of the data used see Table 12 for Greece .
* Ìç óôáèìéêüò áñéèìçôéêüò ìÝóïò ìáêñïðñüèåóìùí åðéôïêßùí ôùí ôñéþí ÷ ùñþí ìå ôï ÷ áìçëüôåñï ðëçèùñéóìü óõí 2,0 åêáôïóôéáßåò ìïíÜäåò .
* Unweighted arithmetic average of the long-term interest rates of the three best-performing countries according to the price criterio plus 2.0 percentage points .
** Ìç óôáèìéêüò áñéèìçôéêüò ìÝóïò ìáêñïðñüèåóìùí åðéôïêßùí ôùí ôñéþí ÷ ùñþí ìå ôï ÷ áìçëüôåñï ðëçèùñéóìü . 35
** Unweighted arithmetic average of the long-term interest rates of the three best-performing countries according to the price criterion .
ÊñéôÞñéá óýãêëéóçò 1
Convergence criteria
Ç åîÝôáóç ôçò ïéêïíïìéêÞò óýãêëéóçò ôï 1998 : âáóéêÜ èÝìáôá ìðïñåß áêñéâÝóôåñá íá äéáðéóôùèåß êáôÜ ðüóïí ôá óçìåñéíÜ åðéôåýãìáôá ïöåßëïíôáé ðñùôßóôùò óå ðñáãìáôéêÝò äéáñèñùôéêÝò ðñïóáñìïãÝò . Óôç óõíÝ ÷ åéá , êáé óôï âáèìü ðïõ êñßèçêå óêüðéìï , åîåôÜæïíôáé ïé ðñïïðôéêÝò ãéá ôï ìÝëëïí .
1 Key aspects of the examination of economic convergence in 1998 This chapter aims at summarising , country by country , the evidence which is available from a comprehensive examination of economic convergence , referring to a number of economic criteria related to the development of prices , government financial positions , exchange rates and long-term interest rates , and taking into account other factors .
¼ óïí áöïñÜ ôçí åîÝëéîç ôùí ôéìþí , ïé äéáôÜîåéò ôçò ÓõíèÞêçò êáé ç åöáñìïãÞ ôïõò áðü ôï ÅÍÉ óêéáãñáöïýíôáé óôï Ðëáßóéï 1 .
First , the evidence of the period 1990 to 1997 is reviewed from a backward-looking BOX 1 perspective ;
Óôï êåßìåíï ðïõ áêïëïõèåß , ôá Ðëáßóéá 1-4 õðåíèõìßæïõí åí óõíôïìßá ôéò äéáôÜîåéò ôçò ÓõíèÞêçò êáé ðáñÝ ÷ ïõí ìåèïäïëïãéêÝò ëåðôïìÝñåéåò ðïõ oñéïèåôïýí ôçí åöáñìïãÞ ôùí åí ëüãù äéáôÜîåùí åê ìÝñïõò ôïõ ÅÍÉ .
In this context it is highlighted that the sustainability of favourable developments hinges critically on appropriate and lasting policy responses to existing and future challenges .
Êáô  áñ ÷ Üò áíáóêïðïýíôáé ïé ìÝ ÷ ñé óÞìåñá åîåëßîåéò , ìå óôïé ÷ åßá ðïõ áöïñïýí ôï äéÜóôçìá 1990-1997 .
As regards price developments , the Treaty provisions and their application by the EMI are outlined in Box 1 .
ÐËÁÉÓÉÏ 1 Ç åîÝëéîç ôùí ôéìþí 1 .
Price developments 1 .
Ïé äéáôÜîåéò ôçò ÓõíèÞêçò Óýìöùíá ìå ôï ¢ ñèñï 109 É ( 1 ) , áðáéôåßôáé :  åðßôåõîç õøçëïý âáèìïý óôáèåñüôçôáò ôéìþí .
Treaty provisions Treaty Article 109j ( 1 ) requires : the achie vement of a high degree of price stability ;
6 , ó ÷ åôéêÜ ìå ôá êñéôÞñéá óýãêëéóçò ðïõ áíáöÝñïíôáé óôï ¢ ñèñï 109 É ( 1 ) ôçò ÓõíèÞêçò , ïñßæåé ôá åîÞò :  Ôï êñéôÞñéï ôçò óôáèåñüôçôáò ôùí ôéìþí , ðïõ áíáöÝñåôáé óôï ¢ ñèñï 109 É , ðáñÜãñáöïò 1 , ðñþôç ðåñßðôùóç , ôçò ÓõíèÞêçò , óçìáßíåé üôé Ýíá ÊñÜôïò-ÌÝëïò Ý ÷ åé óôáèåñÝò åðéäüóåéò óôï èÝìá ôùí ôéìþí êáé ìÝóï ñõèìü ðëçèùñéóìïý , êáôáãåãñáììÝíï åðß Ýíá Ýôïò ðñéí áðü ôïí Ýëåã ÷ ï , ðïõ äåí õðåñâáßíåé åêåßíï ôùí ôñéþí , ôï ðïëý , Êñáôþí-Ìåëþí ìå ôéò êáëýôåñåò åðéäüóåéò áðü Üðïøç óôáèåñüôçôáò ôéìþí , ðåñéóóüôåñï áðü 1,5 åêáôïóôéáßá ìïíÜäá .
Article 1 of Protocol No. 6 on the convergence criteria referred to in Article 109j ( 1 ) of the Treaty , stipulates : The criterion on price stability refer red to in the first indent of Article 109j ( 1 ) of this Treaty shall mean that a Member State has a price performance that is sustainable and an average rate of inflation , observed over a period of one year before the examination , that does not exceed by more than 1‰ percentage points that of , at most , the three best-performing Member States in terms of price stability .
¸ ôóé , ó ÷ åôéêÜ ìå ôï ñõèìü ðëçèùñéóìïý , ùò ðåñßïäïò áíáöïñÜò óôçí ðáñïýóá ¸ êèåóç ëáìâÜíåôáé ôï äéÜóôçìá Öåâñïõáñßïõ 1997-Éáíïõáñßïõ 1998 .
Hence , with respect to the rate of inflation , the reference period considered in this Report is February 1997 to January 1998 .
¼ ôáí ïñéóôéêïðïéÞèçêå ç ¸ êèåóç , ïé ôñåéò ÷ þñåò ìå ôï ÷ áìçëüôåñï ðëçèùñéóìü ( âÜóåé ôïõ ÅíÄÔÊ ) , óôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò , Þôáí ç Áõóôñßá ìå 1,1% , ç Ãáëëßá ìå 1,2% êáé ç Éñëáíäßá ìå 1,2% .
At the time this Report was finalised , the three countries with the lowest HICP inflation rates observed over the reference period were Austria ( 1.1% ) , France ( 1.2% ) and Ireland ( 1.2% ) ;
¢ ñá , ï ìÝóïò ñõèìüò ðëçèùñéóìïý åßíáé 1,2% êáé , åÜí ðñïóôåèåß 1,5 åêáôïóôéáßá ìïíÜäá , ðñïêýðôåé ôéìÞ áíáöïñÜò 2,7% .
as a result , the average rate is 1.2% and , adding 1‰ percentage points , the reference v alue is 2.7% .
Ï ðëçèùñéóìüò ìåôñÞèçêå ìå âÜóç óôïé ÷ åßá ôùí ÅíÄÔÊ , ïé ïðïßïé áíáðôý ÷ èçêáí ðñïêåéìÝíïõ íá áîéïëïãçèåß ç óýãêëéóç ùò ðñïò ôç óôáèåñüôçôá ôùí ôéìþí óå óõãêñßóéìç âÜóç ( âë . ÐáñÜñôçìá 2 ôïõ ðáñüíôïò êåöáëáßïõ ) .
Inflation has been measured on the basis of the data from HICPs , which were developed for the purpose of assessing convergence in terms of price stability on a comparable basis ( see Annex 2 to this chapter ) .
ÐñïêåéìÝíïõ íá åîåôáóôåß áíáëõôéêüôåñá ç äéáôçñçóéìüôçôá ôçò åîÝëéîçò ôùí ôéìþí , ï ìÝóïò ñõèìüò ðëçèùñéóìïý ( ÅíÄÔÊ ) ðïõ óçìåéþèçêå óôçí ðåñßïäï áíáöïñÜò , äçë . óôï äùäåêÜìçíï Öåâñïõáñßïõ 1997Éáíïõáñßïõ 1998 , åðéóêïðåßôáé õðü ôï öùò ôùí åðéäüóåùí áðü Üðïøç óôáèåñüôçôáò ôéìþí óôç äéÜñêåéá ôçò äåêáåôßáò ôïõ 1990 .
To allow a more detailed examination of the sustainability of price developments , the average rate of HICP inflation achieved over the twelve-month reference period from February 1997 to January 1998 is reviewed in the light of the performance during the 1990s in terms of price stability .
¼ óïí áöïñÜ ôéò äçìïóéïíïìéêÝò åîåëßîåéò , ïé äéáôÜîåéò ôçò ÓõíèÞêçò êáé ç åöáñìïãÞ ôïõò åê ìÝñïõò ôïõ ÅÍÉ êáèþò êáé ôá äéáäéêáóôéêÜ èÝìáôá óêéáãñáöïýíôáé óôï Ðëáßóéï 2 .
Concerning fiscal developments , the Treaty provisions and their application by the EMI as well as procedural issues are outlined in Box 2 .
ÐËÁÉÓÉÏ 2
BOX 2
ÄçìïóéïíïìéêÝò åîåëßîåéò 1 .
Fiscal developments 1 .
Ïé äéáôÜîåéò ôçò ÓõíèÞêçò Óýìöùíá ìå ôï ¢ ñèñï 109 É ( 1 ) ôçò ÓõíèÞêçò , áðáéôåßôáé :  óôáèåñüôçôá ôùí äçìüóéùí ïéêïíïìéêþí .
Treaty provisions Treaty Article 109j ( 1 ) requires : the sustainability of the go vernment financial position ;
ÁõôÞ êáôáäåéêíýåôáé áðü ôçí åðßôåõîç äçìïóéïíïìéêÞò êáôÜóôáóçò ÷ ùñßò õðåñâïëéêü äçìïóéïíïìéêü Ýëëåéììá , êáôÜ ôçí Ýííïéá ôïõ ¢ ñèñïõ 104 Ã ( 6 ).
this will be apparent from having achieved a government budgetary position without a deficit that is excessive , as determined in accordance with Article 104c ( 6 ) .
Ôï ¢ ñèñï 2 ôïõ Ðñùôïêüëëïõ áñéè . 6 ïñßæåé üôé ôï êñéôÞñéï áõôü  óçìáßíåé üôé ôç óôéãìÞ ôçò åîÝôáóçò äåí Ý ÷ åé ëçöèåß áðüöáóç ôïõ Óõìâïõëßïõ ãéá ôï ÊñÜôïò-ÌÝëïò , üðùò áíáöÝñåôáé óôï ¢ ñèñï 104 Ã ( 6 ) ôçò ðáñïýóáò ÓõíèÞêçò , üóïí áöïñÜ ôçí ýðáñîç õðåñâïëéêïý åëëåßììáôïò .
Article 2 of Protocol No. 6 stipulates that this criterion shall mean that at the time of the examination the Member State is not the subject of a Council decision under Article 104c ( 6 ) of this Treaty that an excessive deficit exists . 33
Ôï ¢ ñèñï 104 Ã êáèïñßæåé ôç äéáäéêáóßá ôïõ õðåñâïëéêïý åëëåßììáôïò .
Article 104c sets out the excessive deficit procedure .
Óýìöùíá ìå ôï ¢ ñèñï 104 Ã ( 2 ) êáé ( 3 ) , ç ÅõñùðáúêÞ ÅðéôñïðÞ êáôáñôßæåé Ýêèåóç åÜí Ýíá ÊñÜôïò-ÌÝëïò äåí ðëçñïß ôéò ðñïûðïèÝóåéò ãéá äçìïóéïíïìéêÞ ðåéèáñ ÷ ßá , åéäéêüôåñá åÜí : á ) ï ëüãïò ôïõ ðñïâëåðüìåíïõ Þ õöéóôÜìåíïõ äçìïóéïíïìéêïý åëëåßììáôïò ðñïò ôï áêáèÜñéóôï åã ÷ þñéï ðñïúüí õðåñâáßíåé ìéá ôéìÞ áíáöïñÜò ( ðïõ óýìöùíá ìå ôï Ðñùôüêïëëï ïñßæåôáé óå 3 % ôïõ ÁÅÐ ) , åêôüò åÜí : - åßôå ï ëüãïò áõôüò óçìåéþíåé ïõóéáóôéêÞ êáé óõíå ÷ Þ ðôþóç êáé Ý ÷ åé öèÜóåé óå åðßðåäï ðáñáðëÞóéï ôçò ôéìÞò áíáöïñÜò - åßôå , åíáëëáêôéêÜ , ç õðÝñâáóç ôçò ôéìÞò áíáöïñÜò åßíáé áðëþò Ýêôáêôç êáé ðñïóùñéíÞ êáé ï ëüãïò ðáñáìÝíåé êïíôÜ óôçí ôéìÞ áíáöïñÜò .
According to Article 104c ( 2 ) and ( 3 ) the Commission shall prepare a report if a Member State does not fulfil the requirements for fiscal discipline , in particular if a ) the ratio of the planned or actual government deficit to gross domestic product exceeds a reference value ( defined in the Protocol as 3 % of GDP ) , unless : either the ratio has declined substantially and continuously and reached a level that comes close to the reference value ; or , alternatively , the excess over the reference value is only exceptional and temporary and the ratio remains close to the reference value ;
â ) ï ëüãïò ôïõ äçìüóéïõ ÷ ñÝïõò ðñïò ôï áêáèÜñéóôï åã ÷ þñéï ðñïúüí õðåñâáßíåé ìéá ôéìÞ áíáöïñÜò ( ðïõ óýìöùíá ìå ôï Ðñùôüêïëëï ïñßæåôáé óå 60 % ôïõ ÁÅÐ ) , åêôüò åÜí ï ëüãïò ìåéþíåôáé åðáñêþò êáé ðëçóéÜæåé ôçí ôéìÞ áíáöïñÜò ìå éêáíïðïéçôéêü ñõèìü .
b ) the ratio of government debt to gross domestic product exceeds a reference value ( def ined in the Protocol as 60 % of GDP ) , unless the ratio is sufficiently diminishing and approaching the reference value at a satisfactory pace .
ÔÝëïò , óýìöùíá ìå ôï ¢ ñèñï 104 Ã ( 6 ) , ôï Óõìâïýëéï ôçò ÅÅ , ìå åéäéêÞ ðëåéïøçößá , ìåôÜ áðü óýóôáóç ôçò ÅðéôñïðÞò , áðïöáóßæåé , ìåôÜ áðü óõíïëéêÞ åêôßìçóç , åÜí õößóôáôáé Þ ü ÷ é õðåñâïëéêü Ýëëåéììá óå Ýíá ÊñÜôïò-ÌÝëïò .
Finally , according to Article 104c ( 6 ) , the EU Council , on the basis of the recommendation from the Commission , shall , acting by qualified majority , decide , after an overall assessment , whether an excessive deficit exists in a Member State .
ÄéáäéêáóôéêÜ èÝìáôá êáé åöáñìïãÞ ôùí äéáôÜîåùí ôçò ÓõíèÞêçò Ðñþôïí , üóïí áöïñÜ ôç äéÜôáîç ôïõ Ðñùôïêüëëïõ áñéè . 6 , ¢ ñèñï 2 , üôé  ôï êñéôÞñéï ôçò äçìïóéïíïìéêÞò êáôÜóôáóçò ...
Procedural issues and application of Treaty provisions First , with regard to the provision of Protocol No. 6 , Article 2 , that the criterion on the go vernment budgetary position ...
óçìáßíåé üôé ôç óôéãìÞ ôçò åîÝôáóçò äåí Ý ÷ åé ëçöèåß áðüöáóç ôïõ Óõìâïõëßïõ ãéá ôï ÊñÜôïòÌÝëïò , üðùò áíáöÝñåôáé óôï ¢ ñèñï 104 Ã , ðáñÜãñáöïò 6 , üóïí áöïñÜ ôçí ýðáñîç õðåñâïëéêïý åëëåßììáôïò , óçìåéþíåôáé üôé ôï Óõìâïýëéï ôçò ÅÅ ( ECOFIN ) èá áíáèåùñÞóåé åðßóçìá ôïí êáôÜëïãï ôùí ÷ ùñþí ðïõ Ý ÷ ïõí  õðåñâïëéêü Ýëëåéììá , áöïý ðñþôá äçìïóéåõèåß ç ðáñïýóá ¸ êèåóç , ìåôÜ áðü óýóôáóç ôçò ÅõñùðáúêÞò ÅðéôñïðÞò .
shall mean that at the time of the examination the Member State is not the subject of a Council decision under Article 104c ( 6 ) of this Treaty that an excessive def icit exists , it should be noted that the EU Council ( ECOFIN ) will officially revise the list of countries having an excessi ve deficit onl y after publication of this Report , on the basis of a recommendation of the Commission .
Åöüóïí ïé åí ëüãù åðéêåßìåíåò áðïöÜóåéò ôïõ Óõìâïõëßïõ ôçò ÅÅ èá ðñïçãçèïýí ôùí ôåëéêþí áðïöÜóåùí ðïõ èá ëÜâïõí ïé Áñ ÷ çãïß Êñáôþí Þ ÊõâåñíÞóåùí , ç ¸ êèåóç ôïõ ÅÍÉ äåí ó ÷ ïëéÜæåé ðåñáéôÝñù ôéò ðñïãåíÝóôåñåò áðïöÜóåéò ðïõ åëÞöèçóáí ôïí Éïýíéï 1997 .
Since it will be these forthcoming decisions by the EU Council which will precede the final decisions to be taken by the Heads of State or Government , the EMI Report does not comment further on the earlier decisions taken in June 1997 .
* Óýìöùíá ìå ôéò áðïöÜóåéò ôïõ Óõìâïõëßïõ ôçò ÅÅ ôïí Éïýíéï 1997 , üëá ôá ÊñÜôç-ÌÝëç ôçò ÅÅ , åêôüò áðü ôç Äáíßá , ôçí Éñëáíäßá , ôï Ëïõîåìâïýñãï , ôçí Ïëëáíäßá êáé ôç Öéëáíäßá , Ý ÷ ïõí óÞìåñá õðåñâïëéêü Ýëëåéììá .
* Second , with regard to Article 104c , the EMI , in contrast to the Commission , has no formal role in the excessive deficit procedure .
- Äåýôåñïí , üóïí áöïñÜ ôï ¢ ñèñï 104 Ã , ôï ÅÍÉ , áíôßèåôá ìå ü , ôé éó ÷ ýåé ãéá ôçí ÅõñùðáúêÞ ÅðéôñïðÞ , äåí Ý ÷ åé åðßóçìï ñüëï óôç äéáäéêáóßá ôïõ õðåñâïëéêïý åëëåßììáôïò .
Third , for the purpose of examining convergence , and in advance of the decisions to be taken by Ministers in the excessive deficit procedure , the EMI expresses its view on f iscal developments .
Ôñßôïí , ìå óêïðü ôçí åîÝôáóç ôçò óýãêëéóçò , êáé ðñéí áðü ôéò áðïöÜóåéò ðïõ èá ëÜâïõí ïé Õðïõñãïß êáôÜ ôç äéáäéêáóßá ôïõ õðåñâïëéêïý åëëåßììáôïò , ôï ÅÍÉ åêöÝñåé ãíþìç ãéá ôéò äçìïóéïíïìéêÝò åîåëßîåéò . Ùò ðñïò ôç äéáôçñçóéìüôçôá , ôï ÅÍÉ åîåôÜæåé âáóéêïýò äåßêôåò ôùí äçìïóéïíïìéêþí åîåëßîåùí áðü ôï 1990 Ýùò ôï 1997 , åîåôÜæåé ôéò ðñïïðôéêÝò êáé ôéò ðñïêëÞóåéò ãéá ôá äçìüóéá ïéêïíïìéêÜ êáé äßäåé Ýìöáóç óôç óýíäåóç ôçò ðïñåßáò ôïõ åëëåßììáôïò ìå åêåßíç ôïõ ÷ ñÝïõò .
With regard to sustainability , the EMI examines key indicators of fiscal developments from 1990 to 1997 , considers the outlook and challenges for public finances and focuses on the links between deficit and debt developments . Fourth : ( a ) in cases where a deficit ratio is considered by the EMI to have declined both substantiall y and continuously , it pro vides its view with regard to the Treaty provision of the ratio having reached a level that comes close to the reference v alue .
ÐÝìðôïí , üóïí áöïñÜ ôç äéÜôáîç ôçò ÓõíèÞêçò , óýìöùíá ìå ôçí ïðïßá ï ëüãïò ôïõ äçìüóéïõ ÷ ñÝïõò ðïõ õðåñâáßíåé ôï 60 % ôïõ ÁÅÐ ðñÝðåé  íá ìåéþíåôáé åðáñêþò êáé íá ðëçóéÜæåé ôçí ôéìÞ áíáöïñÜò ìå éêáíïðïéçôéêü ñõèìü , ôï ÅÍÉ åîåôÜæåé ôéò ðáëáéüôåñåò êáé ôéò ôñÝ ÷ ïõóåò ôÜóåéò êáé , ðñïêåéìÝíïõ ãéá ÷ þñåò üðïõ ï ëüãïò ôïõ ÷ ñÝïõò õðåñâáßíåé ôçí ôéìÞ áíáöïñÜò , ðáñÝ ÷ åé ìéá óåéñÜ áðü åíäåéêôéêïýò õðïëïãéóìïýò .
Fifth , with regard to the Treaty provision that a debt ratio of above 60 % of GDP should be suf ficiently diminishing and approaching the reference value at a satisfactory pace , the EMI e xamines past and current trends , and , for countries in which the ratio exceeds the reference value , it provides a number of illustrative calculations .