natgillin/translations-raw huggingface dataset:
Áõôü áíôéðáñáâÜëëåôáé ðñïò ôá óçìáíôéêÜ óõíïëéêÜ åëëåßììáôá ôï 1997 êáé ôá ðñïçãïýìåíá Ýôç .
This compares with significant overall deficits in 1997 and the years before . In countries with debt ratios of significantly above 60 % but below 80 % of GDP , keeping
Óôéò ÷ þñåò ðïõ Ý ÷ ïõí ëüãï ÷ ñÝïõò / ÁÅÐ óçìáíôéêÜ õøçëüôåñï ôïõ 60 % áëëÜ êÜôù ôïõ 80 %, åÜí äéáôçñçèåß ï ëüãïò ôïõ åëëåßìáôïò óôá óçìåñéíÜ åðßðåäá äåí èá ìåéùèåß ï ëüãïò ôïõ ÷ ñÝïõò óå åðßðåäï êÜôù ôïõ 60 % ìÝóá óå åýëïãï ÷ ñïíéêü äéÜóôçìá , ðñÜãìá ðïõ óõíåðÜãåôáé üôé ÷ ñåéÜæåôáé íá õðÜñîåé ðåñáéôÝñù , óå ïñéóìÝíåò ðåñéðôþóåéò óçìáíôéêÞ , äçìïóéïíïìéêÞ åîõãßáíóç .
the deficit ratio at current levels would in most cases not bring down the debt ratio to below 60 % within an appropriate period of time , which indicates the need for further , in some cases substantial , consolidation .
Ïé óõíèÞêåò êáôÜ ôï ðñþôï åîÜìçíï ôïõ 1998 åðÝôñåøáí íá åäñáéùèåß ç êïéíÞ áõôÞ êáôÜóôáóç åíþ óôá ëïéðÜ ìÝëç ìðüñåóå íá äéáôçñçèåß ç êáèïäéêÞ ðïñåßá ôùí âáóéêþí åðéôïêßùí ôïõò .
The conditions in the first part of 1998 have allowed this common position to be firmly consolidated and the remaining members have been able to maintain the downward trend in their key interest rates .
Áõôü õðïäçëþíåé üôé óôéò ÷ þñåò ðïõ Ý ÷ ïõí åðéëåãåß ãéá ôçí ðåñéï ÷ Þ ôïõ åõñþ , ôåßíåé íá äéáìïñöùèåß ìéá de facto êïéíÞ êáôåýèõíóç íïìéóìáôéêÞò ðïëéôéêÞò , ìÝóá óå Ýíá ðåñéâÜëëïí ðåñßðïõ óôáèåñþí ôéìþí êáé óõíáëëáãìáôéêþí éóïôéìéþí .
This suggests that a de facto common monetary policy stance is tending to emerge in the selected euro area countries , against a background of broadly stable prices and exchange rates .
Ôï áñãüôåñï ìÝ ÷ ñé ôï ôÝëïò ôïõ 1998 , ôá âñá ÷ õðñüèåóìá åðéôüêéá áõôþí ôùí ÷ ùñþí
By the end of 1998 at the latest , those countries » short-term interest rates will have converged to a common level which will be consistent with the objective of maintaining price stability in the euro area .
Óôï äéÜóôçìá ðïõ áðïìÝíåé ìÝ ÷ ñé ôç ëÞîç ôïõ Äåýôåñïõ Óôáäßïõ , ôï Äéïéêçôéêü Óõìâïýëéï êáé ç ÅêôåëåóôéêÞ ÅðéôñïðÞ ôçò ÅÊÔ èá ðåñáôþóïõí ôéò ðñïðáñáóêåõáóôéêÝò åñãáóßåò ðïõ áðáéôïýíôáé ãéá ôçí Üóêçóç ôçò åíéáßáò íïìéóìáôéêÞò ðïëéôéêÞò óôçí ðåñéï ÷ Þ ôïõ åõñþ áðü ôçí 1ç Éáíïõáñßïõ 1999 .
During the remainder of Stage Two , the Governing Council and the Executive Board of the ECB will finalise the preparations needed for the conduct of the single monetary policy in the euro area as of 1 January 1999 .
ÅðéðëÝïí , óýìöùíá ìå ôï ¢ ñèñï 44 ôïõ Êáôáóôáôéêïý ôïõ ÅÓÊÔ / ÅÊÔ , ç ÅÊÔ èá áíáëÜâåé üóá êáèÞêïíôá ôïõ ÅÍÉ ðñÝðåé íá óõíå ÷ ßóïõí íá åêôåëïýíôáé óôï Ôñßôï ÓôÜäéï ôçò ÏÍÅ , åöüóïí èá õðÜñ ÷ ïõí êñÜôç-ìÝëç ìå ðáñÝêêëéóç .
Furthermore , in accordance with Article 44 of the ESCB / ECB Statute , the ECB is to take over the tasks of the EMI which still need to be performed in Stage Three of EMU , given the existence of Member States with a derogation .
2 ÐñïðáñáóêåõáóôéêÝò åñãáóßåò ãéá ôï Ôñßôï ÓôÜäéï ôìÞìá ïðïéáóäÞðïôå óôñáôçãéêÞò : ôçí áíáêïßíùóç ðïóïôéêïðïéçìÝíïõ ïñéóìïý ôçò óôáèåñüôçôáò ôùí ôéìþí ðïõ áðïôåëåß ôïí ôåëéêü óêïðü , ôçí áíáêïßíùóç åéäéêþí óôü ÷ ùí âÜóåé ôùí ïðïßùí ìðïñåß íá áîéïëïãåßôáé ôï Ýñãï ôïõ ÅÓÊÔ , ôç ÷ ñÞóç ìéáò ìåãÜëçò ðïéêéëßáò áðü ìåôáâëçôÝòäåßêôåò êáôÜ ôç ÷ Üñáîç ôçò ðïëéôéêÞò , ôçí áíáãíþñéóç ôïõ ðñïíïìéáêïý ñüëïõ ôùí íïìéóìáôéêþí ìåãåèþí , êáé ôÝëïò ôç äõíáôüôçôá ôïõ ÅÓÊÔ íá Ý ÷ åé óôç äéÜèåóÞ ôïõ äéêÝò ôïõ ðñïâëÝøåéò ãéá ôïí ðëçèùñéóìü êáé ãéá Üëëåò ìåôáâëçôÝò .
2 Preparatory work for Stage Three Monetary policy In publishing its report on the « The single monetary policy in Stage Three - Elements of the monetary policy strategy of the ESCB » in February 1997 , the EMI , having reviewed a number of alternatives , identified two strategies - intermediate monetary targeting and direct inflation targeting - as potential candidates for Stage Three . It also indicated that , regardless of the final choice made in this respect by the ESCB , the strategy would be characterised by five key elements which are an indispensable part of
ÍïìéóìáôéêÞ ðïëéôéêÞ Ôï ÅÍÉ , óôçí Ýêèåóç ìå ôßôëï  Ç åíéáßá íïìéóìáôéêÞ ðïëéôéêÞ óôï Ôñßôï ÓôÜäéï Óôïé ÷ åßá ôçò óôñáôçãéêÞò íïìéóìáôéêÞò ðïëéôéêÞò ôïõ ÅÓÊÔ , ðïõ äçìïóéåýèçêå ôï ÖåâñïõÜñéï 1997 , åîÝôáóå ìéá óåéñÜ åíáëëáêôéêþí óôñáôçãéêþí êáé åíôüðéóå äýï - ôç óôñáôçãéêÞ êáèïñéóìïý åíäéÜìåóïõ íïìéóìáôéêïý óôü ÷ ïõ êáé ôç óôñáôçãéêÞ êáèïñéóìïý Üìåóïõ óôü ÷ ïõ ãéá ôïí ðëçèùñéóìü - ùò ðéèáíÝò õðïøÞöéåò ãéá ôï Ôñßôï ÓôÜäéï . ÅðéóÞìáíå åðßóçò üôé , áíåîÜñôçôá áðü ôçí ôåëéêÞ åðéëïãÞ ðïõ èá ãßíåé áðü ôï ÅÓÊÔ , ç óôñáôçãéêÞ èá Þôáí óêüðéìï íá ÷ áñáêôçñßæåôáé áðü ðÝíôå âáóéêÜ óôïé ÷ åßá ðïõ áðïôåëïýí áðáñáßôçôï
a privileged role for monetary aggregates and , finally , the ESCB having at its disposal its own forecasts of inflation and other variables . Following the publication of this report , work at the EMI in the field of strategy concentrated on the development of the infrastructure necessary to support monetary policy decision-making , including the development of various econometric tools and procedures for preparing policy decisions .
ôç ëÞøç áðïöÜóåùí óå èÝìáôá íïìéóìáôéêÞò ðïëéôéêÞò , óõìðåñéëáìâáíïìÝíçò ôçò áíÜðôõîçò äéáöüñùí ïéêïíïìåôñéêþí åñãáëåßùí êáé äéáäéêáóéþí ãéá ôçí ðñïðáñáóêåõÞ áðïöÜóåùí ðïëéôéêÞò . Áöïý ïëïêëçñþèçêå ç öÜóç ôçò åííïéïëïãéêÞò áðïóáöÞíéóçò óôï ôÝëïò ôïõ 1996 , ïé ðñïðáñáóêåõáóôéêÝò åñãáóßåò ùò ðñïò ôá ìÝóá êáé ôéò äéáäéêáóßåò ðïõ áðáéôïýíôáé ãéá ôçí åöáñìïãÞ ôçò åíéáßáò íïìéóìáôéêÞò ðïëéôéêÞò óôñÜöçêáí óôïí êáèïñéóìü ôùí ôå ÷ íéêþí ðñïäéáãñáöþí ôïõ ëåéôïõñãéêïý ðëáéóßïõ ôïõ ÅÓÊÔ êáé óôç äçìéïõñãßá ôùí áíáãêáßùí ìÝóùí êáé äéáäéêáóéþí ãéá ôçí åöáñìïãÞ ôçò ìåëëïíôéêÞò íïìéóìáôéêÞò ðïëéôéêÞò ôïõ ÅÓÊÔ .
After the conceptual phase , which was concluded at the end of 1996 , the preparatory work dealing with the instruments and procedures necessary for implementing the single monetary policy was devoted to defining the technical specifications for the ESCB 's operational framework and to the setting-up of the ESCB tools necessary for the implementation of the future monetary policy of the ESCB . The main developments in terms of the technical features of the monetary policy operations in 1997 relate to the procedures , time frame and calendar for ESCB tenders ;
Ïé êýñéåò åîåëßîåéò üóïí áöïñÜ ôá ôå ÷ íéêÜ ÷ áñáêôçñéóôéêÜ ôùí åñãáóéþí óõíáëëáãìáôéêÞò ðïëéôéêÞò ôï 1997 ó ÷ åôßæïíôáé ìå : á ) ôéò äéáäéêáóßåò , ôï ÷ ñïíéêü ðëáßóéï êáé ôï çìåñïëüãéï ãéá ôéò äçìïðñáóßåò ôïõ ÅÓÊÔ , â ) ôéò ôå ÷ íéêÝò ëåðôïìÝñåéåò ôïõ äéáêáíïíéóìïý ôùí ðñÜîåùí áíïéêôÞò áãïñÜò , êáé ã ) ôéò óõíÝðåéåò ôùí äéáäéêáóéþí êëåéóßìáôïò ôÝëïõò ôçò çìÝñáò ãéá ôç ÷ ñÞóç ðÜãéùí äéåõêïëýíóåùí . Ãßíåôáé Þäç ç áðáéôïýìåíç ðñïåñãáóßá þóôå ôï ÅÓÊÔ íá ìðïñåß íá åöáñìüóåé óýóôçìá õðï ÷ ñåùôéêþí êáôáèÝóåùí áðü ôçí Ýíáñîç ôïõ Ôñßôïõ Óôáäßïõ , åöüóïí ôï Äéïéêçôéêü Óõìâïýëéï ôçò ÅÊÔ ëÜâåé ôÝôïéá áðüöáóç .
and to the implications of the end-of-day procedures for the use of standing facilities . The preparatory work necessary to enable the ESCB to apply minimum reserve requirements as from the start of Stage Three , if the Governing Council of the ECB decides in favour of having such a system , is currently being carried out .
ÓõíáëëáãìáôéêÞ ðïëéôéêÞ Ó ÷ åôéêÜ ìå ôç ìåëëïíôéêÞ óõíåñãáóßá óå èÝìáôá óõíáëëáãìáôéêÞò ðïëéôéêÞò ìåôáîý ôùí êñáôþí-ìåëþí ðïõ ìåôÝ ÷ ïõí óôçí ðåñéï ÷ Þ ôïõ åõñþ êáé ôùí Üëëùí ÷ ùñþí ôçò ÅÅ , äéåîÞ ÷ èçóáí åñãáóßåò êáôÜ ôï 1997 ôüóï óå åðßðåäï Óõìâïõëßïõ ECOFIN üóï êáé óå åðßðåäï ÅÍÉ , óýìöùíá ìå Ýíá åõñý ðëáßóéï ðïõ åß ÷ å ïñéóôåß ìå Ýêèåóç ôçí ïðïßá õðÝâáëå ôï ÅÍÉ óôï Åõñùðáúêü Óõìâïýëéï óôç óýíïäï ôïõ Äïõâëßíïõ ôï ÄåêÝìâñéï 1996 .
Foreign exchange policy In the context of future foreign exchange policy co-operation between Member States participating in the euro area and other EU countries , work has been conducted in 1997 at the level of both the ECOFIN Council and the EMI , in accordance with the broad lines defined in a report the EMI submitted on this issue to the Dublin meeting of the European Council in December 1996 .
Óôç óýíïäï ôïõ Åõñùðáúêïý Óõìâïõëßïõ óôï ¢ ìóôåñíôáì ôïí Éïýíéï 1997 , åãêñßèçêå Áðüöáóç ó ÷ åôéêÜ ìå ôï íÝï ìç ÷ áíéóìü óõíáëëáãìáôéêþí éóïôéìéþí ðïõ èá åéóá ÷ èåß êáôÜ ôï Ôñßôï ÓôÜäéï ôçò ÏÍÅ .
The European Council held in Amsterdam in June 1997 approved a Resolution relating to the new exchange rate mechanism to be introduced in Stage Three of EMU .
¸÷ ïõí áíáëçöèåß åñãáóßåò ðñïêåéìÝíïõ íá äéåõêïëõíèåß ç áðüöáóç ùò ðñïò ôï ðïóü ðïõ èá ìåôáâéâáóôåß ôåëéêÜ êáé ôéò ôå ÷ íéêÝò ëåðôïìÝñåéåò ãéá ôçí áñ ÷ éêÞ ìåôáâßâáóç óõíáëëáãìáôéêþí äéáèåóßìùí áðü ôéò ÅèíÊÔ ðñïò ôçí ÅÊÔ óôçí áñ ÷ Þ ôïõ Ôñßôïõ Óôáäßïõ , óýìöùíá ìå ôï ¢ ñèñï 30.1 ôïõ Êáôáóôáôéêïý ôïõ ÅÓÊÔ / ÅÊÔ .
Work has been undertaken in order to facilitate the decision on the amount and the modalities of the initial transfer of foreign reserve assets from the NCBs to the ECB at the beginning of Stage Three , in accordance with Article 30.1 of the ESCB / ECB Statute .
Åðßóçò , Ý ÷ ïõí áñ ÷ ßóåé åñãáóßåò ãéá ôçí êáôÜñôéóç óõìðëçñùìáôéêÞò êïéíïôéêÞò íïìïèåóßáò ðïõ èá åðéôñÝðåé óôçí ÅÊÔ , óýìöùíá ìå ôï ¢ ñèñï 30.4 ôïõ Êáôáóôáôéêïý ôïõ ÅÓÊÔ / ÅÊÔ , íá æçôÞóåé íá ôçò êáôáâëçèïýí óõíáëëáãìáôéêÜ äéáèÝóéìá ðÝñáí ôïõ ïñßïõ ôùí 50 äéóåê . åõñþ ðïõ èÝôåé ôï ¢ ñèñï 30.1 .
Work has also been initiated to prepare complementary Community legislation which will enable the ECB , in accordance with Article 30.4 of the ESCB / ECB Statute , to make further calls on the NCBs » foreign reserve assets beyond the limit of E 50 billion set in Article 30.1 .
Ôï Åõñùðáúêü Óõìâïýëéï , óôç óýíïäï ôïõ Ëïõîåìâïýñãïõ ôï ÄåêÝìâñéï 1997 , åðéâåâáßùóå óôá óõìðåñÜóìáôÜ ôïõ üôé  ïé äéìåñåßò óõíáëëáãìáôéêÝò éóïôéìßåò ðïõ èá ÷ ñçóéìïðïéçèïýí ãéá ôïí êáèïñéóìü ôùí óõíôåëåóôþí ìåôáôñïðÞò ôïõ åõñþ èá áíáêïéíùèïýí óôéò 3 ÌáÀïõ 1998 ãéá ôá
The Luxembourg European Council held in December 1997 stated in its conclusions that « the bilateral exchange rates which will be used to determine the conversion rates of the euro will be announced on 3 May 1998 for those Member States participating in the euro from the start » .
Óôï Êïéíü ÁíáêïéíùèÝí ðïõ åîÝäùóáí óôéò 2 ÌáÀïõ 1998 ïé Õðïõñãïß êáé ïé äéïéêçôÝò ôùí êåíôñéêþí ôñáðåæþí ôùí êñáôþí-ìåëþí ôçò ÅÅ ðïõ óõììåôÝ ÷ ïõí óôçí ðåñéï ÷ Þ ôïõ åõñþ , ç ÅõñùðáúêÞ ÅðéôñïðÞ êáé ôï ÅÍÉ , ùò ðñüäñïìïò ôçò ÅÊÔ , äéåõêñéíßæåôáé üôé áõôïß ïé óõíôåëåóôÝò åßíáé ïé äéìåñåßò êåíôñéêÝò éóïôéìßåò ôïõ ÌÓÉ êáé üôé ç ìÝèïäïò ðïõ èá ÷ ñçóéìïðïéçèåß óôéò 31 Äåêåìâñßïõ 1998 ãéá ôïí êáèïñéóìü ôùí áìåôÜêëçôùí óõíôåëåóôþí ìåôáôñïðÞò ôïõ åõñþ èá åßíáé ç ôáêôéêÞ çìåñÞóéá äéáäéêáóßá óõíåííüçóçò .
The Joint Communiqué issued on 2 May 1998 by the Ministers and central bank governors of the EU Member States participating in the euro area , the European Commission and the EMI , as the forerunner of the ECB , clarifies that these rates are the ERM bilateral central rates and the method to be used on 31 December 1998 for setting the irrevocable euro rates will be the regular daily concertation procedure .
Ïé óõíáëëáãìáôéêÝò éóïôéìßåò ôïõ åðßóçìïõ ECU Ýíáíôé ôùí íïìéóìÜôùí ôùí êñáôþí-ìåëþí ôçò ðåñéï ÷ Þò ôïõ åõñþ , üðùò èá ðñïêýøïõí áðü áõôÞ ôç äéáäéêáóßá , èá õéïèåôçèïýí áðü ôï Óõìâïýëéï ùò áìåôÜêëçôïé óõíôåëåóôÝò ìåôáôñïðÞò ôïõ åõñþ ôçí 1ç Éáíïõáñßïõ 1999 êáé ìå éó ÷ ý áðü ôçí ßäéá çìåñïìçíßá .
The exchange rates of the official ECU visà-vis the currencies of the euro area Member States set through this procedure will be adopted by the Council as the irrevocable conversion rates for the euro on and with effect from 1 January 1999 .
ÓôáôéóôéêÜ èÝìáôá Ôïí Éïýëéï 1996 ôï ÅÍÉ åîÝäùóå Ýããñáöá ðïõ êáèüñéæáí ìéá ìåãÜëç ðïéêéëßá áðü óôáôéóôéêÝò áðáéôÞóåéò ãéá ôç äéåíÝñãåéá ôçò ðïëéôéêÞò óôï Ôñßôï ÓôÜäéï .
Statistics Wide-ranging statistical requirements for the conduct of policy in Stage Three were set out in documents released by the EMI in July 1996 .
Ðáñüôé åîáêïëïõèïýí íá õðÜñ ÷ ïõí äõóêïëßåò óå ïñéóìÝíïõò ôïìåßò , ç åéóáãùãÞ ôùí áíáãêáßùí óôáôéóôéêþí ìåôáâïëþí ðñï ÷ þñçóå ãåíéêþò ïìáëÜ , êáé óôïé ÷ åßá êáôáñôéóìÝíá ìå ôç íÝá âÜóç ðïõ óõìöùíÞèçêå ãéá üëç ôç ìåëëïíôéêÞ ðåñéï ÷ Þ ôïõ åíéáßïõ íïìßóìáôïò èá âñßóêïíôáé óôç äéÜèåóç ôïõ ÅÍÉ / ÅÊÔ ìÝóá óôï 1998 .
Though some areas of difficulty remain , the introduction of the necessary statistical changes has proceeded smoothly on the whole , and data on the new agreed basis covering the future single currency area will become available to the EMI / ECB during the course of 1998 .
( EUROSTAT ) èá Ý ÷ ïõí áðü êïéíïý áñìïäéüôçôá .
the legal framework for statistics in Stage Three has been further developed ;
Ôï íïìéêü ðëáßóéï ãéá ôá óôáôéóôéêÜ óôïé ÷ åßá óôï Ôñßôï ÓôÜäéï áíáðôý ÷ èçêå ðåñéóóüôåñï êáé , ðñéí ëÞîåé ôï 1997 , åß ÷ å ðåñáôùèåß ôï ìåãáëýôåñï ìÝñïò ôïõ Ýñãïõ ðïõ áöïñÜ ôç ìåôáâßâáóç çëåêôñïíéêþí äåäïìÝíùí åíôüò ôïõ ÅÓÊÔ , åíþ óçìåéþèçêå ðñüïäïò êáé óôçí áíÜðôõîç ôùí åóùôåñéêþí óõóôçìÜôùí ôçò ÅÊÔ ãéá ôï ÷ åéñéóìü äåäïìÝíùí .
and by the end of 1997 most of the work on electronic data transmission within the ESCB had been done , with progress also in the development of the internal systems to handle data in the ECB .
ÓõóôÞìáôá ðëçñùìþí Óôïí ôïìÝá ôùí óõóôçìÜôùí ðëçñùìþí , ç Ýêèåóç ôïõ ÅÍÉ ìå ôßôëï  Äåýôåñç Ýêèåóç ðñïüäïõ ãéá ôï Óýóôçìá TARGET  ( Äéåõñùðáúêü ÁõôïìáôïðïéçìÝíï Óýóôçìá Ôá ÷ åßáò ÌåôáöïñÜò Êåöáëáßùí óå Óõíå ÷ Þ × ñüíï ) , ðïõ äçìïóéåýèçêå ôï ÓåðôÝìâñéï 1997 , ðáñÝ ÷ åé åðéðëÝïí ðëçñïöïñßåò ãéá ôçí ðñüïäï ðïõ Ý ÷ åé óçìåéùèåß üóïí áöïñÜ ôéò ïñãáíùôéêÝò ðëåõñÝò êáé ôçí åöáñìïãÞ ôïõ óõóôÞìáôïò .
Payment systems In the field of payment systems , the EMI 's « Second progress report on the TARGET ( Trans-European Automated Real-time Gross settlement Express Transfer ) project » which was released in September 1997 provided further information on the progress made with regard to organisational aspects 7
Åéäéêüôåñá , áíáöÝñåôáé óôá áêüëïõèá èÝìáôá : 1 ) ÷ ñüíïò ëåéôïõñãßáò , 2 ) ôéìïëïãéáêÞ ðïëéôéêÞ , 3 ) ðáñï ÷ Þ ñåõóôüôçôáò åíôüò ôçò çìÝñáò ( intraday ) ðñïò ôéò åêôüò ôçò ðåñéï ÷ Þò ôïõ åõñþ ÅèíÊÔ , 4 ) ñüëïò ôçò ÅÊÔ óôï TARGET êáé 5 ) åöáñìïãÞ ôïõ TARGET .
4 ) the role of the ECB in TARGET ; and 5 ) TARGET implementation .
Ïé äïêéìÝò ôïõ TARGET âñßóêïíôáé Þäç óå ðñï ÷ ùñçìÝíï óôÜäéï .
TARGET testing is well on track .
Åíçìåñùôéêü öõëëÜäéï ðïõ ðåñéãñÜöåé ôá êýñéá ÷ áñáêôçñéóôéêÜ ôïõ óõóôÞìáôïò TARGET åêäüèçêå ôï ÌÜéï ôïõ 1998 , åíþ çìåñïëüãéï ôùí çìåñþí ëåéôïõñãßáò ôïõ TARGET ðñüêåéôáé íá äçìïóéåõèåß ôïí Áýãïõóôï 1998 .
A brochure describing the main features of the TARGET system was released in May 1998 and a TARGET operating days calendar will be published in August 1998 .
Ïé ðñïäéáãñáöÝò , ìáæß ìå ó ÷ åôéêÞ áíÜëõóç , ðåñéãñÜöïíôáé óôçí Ýêèåóç ôïõ ÅÍÉ ìå ôßôëï  ÐñïäéáãñáöÝò ãéá ôç ÷ ñÞóç ÓõóôçìÜôùí Äéáêáíïíéóìïý × ñåïãñÜöùí óôéò ðéóôùôéêÝò åñãáóßåò ôïõ ÅÓÊÔ , ç ïðïßá äçìïóéåýèçêå óôéò 8 Éáíïõáñßïõ 1998 .
The standards and the underlying analysis are described in the EMI 's report entitled « Standards for the use of Securities Settlement Systems in ESCB credit operations » , which was released on 8 January 1998 .
Ôïí Éïýëéï 1997 ôï Óõìâïýëéï ôïõ ÅÍÉ áðïöÜóéóå íá õéïèåôÞóåé ôï ÌïíôÝëï Áíôáðïêñéôñéþí Êåíôñéêþí Ôñáðåæþí ( ÌÁÊÔ ) ùò ìåôáâáôéêÞ ëýóç Ýùò üôïõ åãêáôáóôáèïýí êáôÜëëçëåò óõíäÝóåéò ìåôáîý ôùí ÓÄ ×, þóôå üëá ôá ðåñéïõóéáêÜ óôïé ÷ åßá ðïõ èá ãßíïíôáé äåêôÜ óôéò åñãáóßåò ôïõ ÅÓÊÔ ( ðñÜîåéò íïìéóìáôéêÞò ðïëéôéêÞò êáé ðéóôþóåéò åíôüò ôçò çìÝñáò ) íá ìðïñïýí íá ÷ ñçóéìïðïéïýíôáé óå äéáóõíïñéáêÞ âÜóç ùò åíÝ ÷ õñï óôéò åñãáóßåò áõôÝò .
Moreover , in July 1997 the EMI Council decided to adopt the correspondent central banking model ( CCBM ) as an interim solution before the establishment of appropriate links between SSSs in order to facilitate the cross-border use of collateral in ESCB operations ( monetary policy and intraday credit operations ) .
ÁõôÝò èá áðïôåëÝóïõí ôç âÜóç ãéá ôçí åêäïôéêÞ åñãáóßá , óôá ðëáßóéá ôçò ïðïßáò ôá ó ÷ Ýäéá ðñÝðåé íá ìåôáó ÷ çìáôéóôïýí óå åêôõðùôéêÝò ðëÜêåò êáôÜ ôï ðñþôï åîÜìçíï ôïõ 1998 .
banknote production were tested within the context of a test banknote project .
Ôï 1997 , ðñïêåéìÝíïõ íá åíôïðéóôïýí üóï ôï äõíáôüí åíùñßôåñá ôá äõíçôéêÜ ðñïâëÞìáôá , äïêéìÜóôçêáí üëåò ïé ôå ÷ íéêÝò ðïõ èá ÷ ñçóéìïðïéçèïýí ãéá ôçí ðáñáãùãÞ ôñáðåæïãñáììáôßùí åõñþ , óôá ðëáßóéá ðñïãñÜììáôïò ìå èÝìá ôç äçìéïõñãßá äïêéìáóôéêïý ôñáðåæïãñáììáôßïõ . Ôï ðñüãñáììá áõôü Ýäåéîå üôé üëåò ïé óõììåôÝ ÷ ïõóåò åêôõðùôéêÝò ìïíÜäåò ðñÝðåé íá åßíáé óå èÝóç íá ðáñÜãïõí ôñáðåæïãñáììÜôéá åõñþ óå üëåò ôéò ïíïìáóôéêÝò áîßåò ìå ôçí ßäéá ðïéüôçôá êáé ðáíïìïéüôõðç åìöÜíéóç .
The project revealed that all the participating printing works should be in a position to produce all the euro banknote denominations to an equal standard of quality and with an identical appearance . With regard to protection of the euro banknotes , the EMI Council has agreed to use the copyright © symbol on the euro banknotes and , to increase efficiency in combating counterfeiting , to set up a joint investigation centre and a database on counterfeit euro banknotes .
Ùò çìåñïìçíßá êáôÜ ôçí ïðïßá èá ôåèïýí óå êõêëïöïñßá ôá ôñáðåæïãñáììÜôéá êáé êÝñìáôá åõñþ Ý ÷ åé ïñéóôåß ç 1ç Éáíïõáñßïõ 2002 .
The date for the launch of the euro banknotes and coins has been fixed at 1 January 2002 .
Ùò ðñïò ôï ¢ ñèñï 52 ôïõ Êáôáóôáôéêïý ôïõ ÅÓÊÔ / ÅÊÔ , ôï ïðïßï ïñßæåé üôé ôï Äéïéêçôéêü Óõìâïýëéï ôçò ÅÊÔ õðï ÷ ñåïýôáé íá ëáìâÜíåé ôá êáôÜëëçëá ìÝôñá ãéá íá åîáóöáëßæåé üôé ôá ôñáðåæïãñáììÜôéá ðïõ åêöñÜæïíôáé óå íïìßóìáôá ìå áìåôÜêëçôá êáèïñéóìÝíåò éóïôéìßåò áíôáëëÜóóïíôáé áðü ôéò ÅèíÊÔ óôçí áíôßóôïé ÷ ç Üñôéá éóïôéìßá ôïõò , ç ðëåéïøçößá ôùí ìåëþí ôïõ Äéïéêçôéêïý Óõìâïõëßïõ ôïõ ÅÍÉ êáôÝëçîå êáô  áñ ÷ Þí óå óõìöùíßá ãéá ôïõò ìç ÷ áíéóìïýò áíôáëëáãÞò êáé åðáíáðáôñéóìïý ôùí åèíéêþí ôñáðåæïãñáììáôßùí óôï äéÜóôçìá 19992002 .
With regard to Article 52 of the ESCB / ECB Statute , which commits the Governing Council of the ECB to take the necessary measures to ensure that banknotes denominated in currencies with irrevocably fixed exchange rates are exchanged by the NCBs at their respective par value , a majority of the members of the EMI Council has reached a basic agreement on the mechanisms which will be involved in exchanging and repatriating national banknotes between 1999 and 2002 .
ËïãéóôéêÜ èÝìáôá Ïé ðñïðáñáóêåõáóôéêÝò åñãáóßåò ãéá ôï ëïãéóôéêü ðëáßóéï ðïõ èá ÷ ñçóéìïðïéçèåß ãéá ôï ÅÓÊÔ ïëïêëçñþèçêáí êáôÜ ìåãÜëï ìÝñïò ôï 1997 .
Accounting issues The preparatory work on the accounting framework to be used for the ESCB was largely completed in 1997 .
Áíáðôý ÷ èçêå õðïäïìÞ åðéêïéíùíéþí ç ïðïßá êáëýðôåé ïëüêëçñï ôï ÅÓÊÔ , ðáñÝ ÷ åé áóöáëÞ ïëïêëçñùìÝíç äéáâßâáóç áñ ÷ åßùí êáé áîéüðéóôåò õðçñåóßåò áðïóôïëÞò ìçíõìÜôùí êáé ôÝèçêå óå ëåéôïõñãßá ôï ÌÜéï 1998 .
These form the basis for the origination work , in the context of which the designs are being transformed into printing plates in the first half of 1998 .
Óôç äéÜñêåéá ôïõ 1997 óõíôåëÝóôçêå óçìáíôéêÞ ðñüïäïò óôçí áíÜðôõîç ðïëëþí åöáñìïãþí ëïãéóìéêïý ðïõ êáëýðôïõí üëï ôï ÅÓÊÔ .
In 1997 , in order to identify potential problems at the earliest possible stage , all the techniques which will be used for euro
¼ ëåò ïé ðáñáðÜíù åöáñìïãÝò èá ïëïêëçñùèïýí ðñéí áðü ôá ìÝóá ôïõ 1998 .
It enables several audio conferences to take place in parallel between the connected institutions .
Ôï äåýôåñï åîÜìçíï ôïõ 1998 èá áöéåñùèåß óôç äéåîáãùãÞ ôùí áðáñáßôçôùí äïêéìþí óå üëá ôá óõóôÞìáôá êáé äéáäéêáóßåò ìåôáîý ôçò ÅÊÔ êáé ôùí ÅèíÊÔ . Ôï Óõìâïýëéï ôïõ ÅÍÉ åíÝêñéíå ðëáßóéï ðïëéôéêÞò ãéá ôçí áóöÜëåéá ôùí óõóôçìÜôùí ðëçñïöïñéêÞò ôïõ ÅÓÊÔ , ìå óôü ÷ ï íá åããõçèåß êáé íá äéáôçñÞóåé Ýíáí åðáñêÞ êáé óõíôïíéóìÝíï âáèìü áóöÜëåéáò .
Furthermore , its underlying physical infrastructure will serve as the main network platform for the data transfers needed for the majority of ESCB-wide information systems applications . An ESCB-wide communications infrastructure providing secure end-to-end file transfer and robust messaging services was developed and became operational in May 1998 .
TñáðåæéêÞ åðïðôåßá êáé óôáèåñüôçôá ôïõ ÷ ñçìáôïðéóôùôéêïý óõóôÞìáôïò To ENI åîÝôáóå ìå ðïéïõò ôñüðïõò ôï ÅÓÊÔ ìðïñåß íá óõìâÜëåé , óôï Ôñßôï ÓôÜäéï ôçò ÏÍÅ , óôçí åê ìÝñïõò ôùí áñìüäéùí åèíéêþí áñ ÷ þí ïìáëÞ Üóêçóç ôùí ðïëéôéêþí óôïõò 10
In 1997 significant progress was made in the development of several ESCB-wide software applications which will support the conduct of monetary policy operations , foreign exchange market interventions and the management of the ECB 's foreign reserve assets .
ôïìåßò ôçò ôñáðåæéêÞò åðïðôåßáò êáé ôçò óôáèåñüôçôáò ôïõ ÷ ñçìáôïðéóôùôéêïý óõóôÞìáôïò , âÜóåé ôïõ ¢ ñèñïõ 105 ( 5 ) ôçò ÓõíèÞêçò .
All these applications will be implemented by mid-1998 . The second half of 1998 will be devoted to undertaking the testing of all the systems and procedures between the ECB and the NCBs .
ÅðéðëÝïí , ôï ¢ ñèñï 25 ( 1 ) ôïõ Êáôáóôáôéêïý ôïõ ÅÓÊÔ / ÅÊÔ ðñïâëÝðåé Ýíá óõãêåêñéìÝíï êáé ðñïáéñåôéêü óõìâïõëåõôéêü êáèÞêïí ôçò ÅÊÔ ó ÷ åôéêÜ ìå ôçí åìâÝëåéá êáé ôçí åöáñìïãÞ ôçò êïéíïôéêÞò íïìïèåóßáò óôçí ôñáðåæéêÞ åðïðôåßá êáé ôç óôáèåñüôçôá ôïõ ÷ ñçìáôïðéóôùôéêïý óõóôÞìáôïò .
Moreover , Article 25 ( 1 ) of the ESCB / ECB Statute contemplates a specific and optional advisory task of the ECB on the scope and implementation of the Community legislation on banking supervision and the stability of the financial system .
Åðßóçò , ôï ¢ ñèñï 105 ( 4 ) ôçò ÓõíèÞêçò , ôï ïðïßï ðñïâëÝðåé Ýíá õðï ÷ ñåùôéêü óõìâïõëåõôéêü êáèÞêïí ôçò ÅÊÔ ó ÷ åôéêÜ ìå ó ÷ Ýäéá êïéíïôéêþí êáé åèíéêþí íïìïèåôéêþí äéáôÜîåùí ðïõ åìðßðôïõí óôï ðåäßï áñìïäéïôÞôùí ôçò ÅÊÔ , åíäÝ ÷ åôáé íá åöáñìüæåôáé , ìåôáîý Üëëùí , óå óõãêåêñéìÝíç íïìïèåóßá ðïõ áöïñÜ ôçí ôñáðåæéêÞ åðïðôåßá êáé ôç óôáèåñüôçôá ôïõ ÷ ñçìáôïðéóôùôéêïý óõóôÞìáôïò .
In addition , Article 105 ( 4 ) of the Treaty , which provides for a mandatory advisory task of the ECB on draft Community and national legislation falling within the ECB 's field of competence , is likely to apply to , inter alia , certain legislation on banking supervision and the stability of the financial system . Finally , Article 105 ( 6 ) of the Treaty envisages the possibility of conferring upon the ECB specific tasks concerning policies relating to prudential supervision .
ÔÝëïò , ôï ¢ ñèñï 105 ( 6 ) ôçò ÓõíèÞêçò ðñïâëÝðåé ôç äõíáôüôçôá íá áíáôåèïýí óôçí ÅÊÔ óõãêåêñéìÝíá êáèÞêïíôá ó ÷ åôéêÜ ìå ôç ÷ Üñáîç ðïëéôéêÞò ãéá ôçí ðñïëçðôéêÞ åðïðôåßá . Åí ðñïêåéìÝíù , èá Þôáí ðñüùñï óôï óôÜäéï áõôü íá åîåôáóôåß ïðïéáäÞðïôå åê ÷ þñçóç åðïðôéêþí áñìïäéïôÞôùí áðü ôéò åèíéêÝò áñ ÷ Ýò ðñïò ôçí ÅÊÔ .
In this respect , it is felt premature at this stage to envisage any transfer of supervisory competencies from national authorities to the ECB . Legal issues Banking supervision and financial stability The EMI has examined how in Stage Three of EMU the ESCB can contribute to the smooth conduct of the policies pursued by the competent authorities in the fields of banking supervision and the stability of the financial system , under Article 105 ( 5 ) of the Treaty .
ÍïìéêÜ èÝìáôá Óôï íïìéêü ôïìÝá , ôï ÅÍÉ , óå Ýêèåóç ðïõ äçìïóéåýèçêå ôïí Ïêôþâñéï 1997 , áíÝðôõîå ðåñáéôÝñù ôéò áðüøåéò ôïõ ó ÷ åôéêÜ ìå ôçí ðñïóáñìïãÞ ôçò åèíéêÞò íïìïèåóßáò âÜóåé ôïõ ¢ ñèñïõ 108 ôçò ÓõíèÞêçò åí üøåé ôùí ðñïûðïèÝóåùí ãéá ôï Ôñßôï ÓôÜäéï ðïõ ðñïâëÝðïõí ç ÓõíèÞêç êáé ôï Êáôáóôáôéêü ôïõ ÅÓÊÔ / ÅÊÔ .
First , the ESCB and , in particular , the ECB will promote co-operation among the supervisory authorities and between them and the ESCB on relevant prudential supervisory issues , such as those of a In the legal area , the EMI further elaborated its views on the adaptation of national legislation under Article 108 of the Treaty with a view to Treaty and ESCB / ECB Statute requirements for Stage Three in a report which was published in October 1997 .
Ç Ýêèåóç áõôÞ ðáñÝ ÷ åé êáèïäÞãçóç óôá åèíéêÜ íïìïèåôéêÜ üñãáíá êáôÜ ôç äéáäéêáóßá áõôÞ ôçò ðñïóáñìïãÞò êáé ôáõôï ÷ ñüíá áðïôÝëåóå âÜóç ôçò ¸ êèåóçò ãéá ôç Óýãêëéóç ( 1998 ) üðïõ , ìåôáîý Üëëùí , áîéïëïãÞèçêå ç óõìâáôüôçôá ôçò åèíéêÞò íïìïèåóßáò , óõìðåñéëáìâáíïìÝíùí ôùí êáôáóôáôéêþí ôùí ÅèíÊÔ , ìå ôç ÓõíèÞêç êáé ôï Êáôáóôáôéêü ôïõ ÅÓÊÔ / ÅÊÔ .
In doing so , it gave guidance to national legislators in this adaptation process and at the same time laid the basis for its 1998 Convergence Report in which , inter alia , the compatibility of national legislation , including the statutes of the NCBs , with the Treaty and the ESCB / ECB Statute was assessed .