natgillin/translations-raw huggingface dataset:
The Commission shall examine this request and submit its conclusions to the Council without delay .
The Commission shall examine this request and submit its conclusions to the Council without delay .
- to deliver opinions at the request of the Council or of the Commission , or on its own initiative for submission to those institutions ;
- to deliver opinions at the request of the Council or of the Commission , or on its own initiative for submission to those institutions ;
Chapter 4
Chapter 4
- W keep under review the economic and financial situation of the Member States and of the Community and to report regularly thereon to the Council and to the Commission , in particular on financial relations with third countries and intemational' institutions ;
- W keep under review the economic and financial situation of the Member States and of the Community and to report regularly thereon to the Council and to the Commission , in particular on financial relations with third countries and intemational' institutions ;
Article 10 % 1 .
Article 10 % 1 .
The second stage for achieving economic and monetary union shall begin on 1 January 1994 .
The second stage for achieving economic and monetary union shall begin on 1 January 1994 .
Before that date ( a ) each Member State shall :
Before that date ( a ) each Member State shall :
- without prejudice to Anicle 151 , W contribute to the preparation of the work of the Council referred to in Articles 73f , 73g , 103 ( 2 ) , ( 3 ) , ( 4 ) and ( 5 ) , 103a , 104a , 104b , 104c , 105 ( 6 ) , 105a ( 2 ) , 106 ( 5 ) and ( 6 ) , 109 , 109h , 109i ( 2 ) and ( 3 ) , 109k ( 2 ) , 1091 ( 4 ) and ( S ) , and to carry out other advisory and preparawry tasks assigned to it by the Council ;
- without prejudice to Anicle 151 , W contribute to the preparation of the work of the Council referred to in Articles 73f , 73g , 103 ( 2 ) , ( 3 ) , ( 4 ) and ( 5 ) , 103a , 104a , 104b , 104c , 105 ( 6 ) , 105a ( 2 ) , 106 ( 5 ) and ( 6 ) , 109 , 109h , 109i ( 2 ) and ( 3 ) , 109k ( 2 ) , 1091 ( 4 ) and ( S ) , and to carry out other advisory and preparawry tasks assigned to it by the Council ;
- adopt ,
- adopt ,
examine , at least once a year , the situation regarding the movement of capital and the freedom of payments , as they result from the application of this Treaty and of measures adopted by the Council ;
examine , at least once a year , the situation regarding the movement of capital and the freedom of payments , as they result from the application of this Treaty and of measures adopted by the Council ;
the examination shall cover all measures relating to capital movements and payments ;
the examination shall cover all measures relating to capital movements and payments ;
the Committee shall report W the Commission and to the Council on the outcome of this examination .
the Committee shall report W the Commission and to the Council on the outcome of this examination .
where necessary , appropriate measures to comply with the prohibitions laid down in Article 73b , without prejudice to Anicle 73e , and in Articles 104 and 104a ( l ) ;
where necessary , appropriate measures to comply with the prohibitions laid down in Article 73b , without prejudice to Anicle 73e , and in Articles 104 and 104a ( l ) ;
- adopt , if necessary , with a view to permitting the assessment provided for in subparagraph ( b ) , multiannual programmes intended to ensure the lasting convergence necessary for the achievement of economic and monetary union , in particular with regard to price stability and sound public finances ;
- adopt , if necessary , with a view to permitting the assessment provided for in subparagraph ( b ) , multiannual programmes intended to ensure the lasting convergence necessary for the achievement of economic and monetary union , in particular with regard to price stability and sound public finances ;
( b ) the Council shall , on the basis of a report from the Commission , assess the progress made with regard W economic and monetary convergence , in particular with regard to price stability and sound public finances , and the progress made with the implementation of Community law concerning the internal market .
( b ) the Council shall , on the basis of a report from the Commission , assess the progress made with regard W economic and monetary convergence , in particular with regard to price stability and sound public finances , and the progress made with the implementation of Community law concerning the internal market .
The provisions of Articles 104 , 104a ( l ) , 104b ( l ) and 104c with the exception of paragraphs 1 , 9 , 11 and 14 shall apply from the beginning of the second stage .
The provisions of Articles 104 , 104a ( l ) , 104b ( l ) and 104c with the exception of paragraphs 1 , 9 , 11 and 14 shall apply from the beginning of the second stage .
The Member States , the Commission and the ECB shall each appoint no more than two members of the Committee .
The Member States , the Commission and the ECB shall each appoint no more than two members of the Committee .
The Council shall , acring by a qualified majority on a proposal from the Commission and after consulting the ECB and the Committee referred to in this Anicle , lay down detailed provisions concerning the composition of the Economic and Financial Committee .
The Council shall , acring by a qualified majority on a proposal from the Commission and after consulting the ECB and the Committee referred to in this Anicle , lay down detailed provisions concerning the composition of the Economic and Financial Committee .
The President of the Council shall inform the European Parliament of such a decision .
The President of the Council shall inform the European Parliament of such a decision .
In addition to the tasks set out in paragraph 2 , if and as long as there are Member States with a dero -
In addition to the tasks set out in paragraph 2 , if and as long as there are Member States with a dero -
N o C 191/18
N o C 191/18
The provisions of Articles 103a ( 2 ) , 104c ( l ) , ( 9 ) and ( l l ) , 105 , 105a , 107 , 109 , 109a , 10 % and 109c ( t ) and ( 4 ) shall apply from the beginning of the third stage .
The provisions of Articles 103a ( 2 ) , 104c ( l ) , ( 9 ) and ( l l ) , 105 , 105a , 107 , 109 , 109a , 10 % and 109c ( t ) and ( 4 ) shall apply from the beginning of the third stage .
In the second stage , Member States shall endeavour to avoid excessive government deficits .
In the second stage , Member States shall endeavour to avoid excessive government deficits .
- take over the m k s of the European Monetary Cooperation Fund , which shall be dissolved ;
- take over the m k s of the European Monetary Cooperation Fund , which shall be dissolved ;
the modalities of dissolution arc laid down in the Statute of the EMI ;
the modalities of dissolution arc laid down in the Statute of the EMI ;
- facilitate the use of the ECU and oversee its development , including the smooth functioning of the ECU cleving system .
- facilitate the use of the ECU and oversee its development , including the smooth functioning of the ECU cleving system .
For the preparation of the third stage , the EM1 shall :
For the preparation of the third stage , the EM1 shall :
During the second stage , each Member State shall , as appropriate , stan the process leading to the independence of its cenual bank , in accordance with Article 108 .
During the second stage , each Member State shall , as appropriate , stan the process leading to the independence of its cenual bank , in accordance with Article 108 .
Article 109f
Article 109f
- prepare
- prepare
At the stan of the second stage , a European Monetaly Institute ( hereinafter referred W as « EMI ") shall be established and take up its duties ;
At the stan of the second stage , a European Monetaly Institute ( hereinafter referred W as « EMI ") shall be established and take up its duties ;
it shall have legal personality and be directed and managed by a Council , consisting of a President and the Governors of the national central banks , one of whom shall be Vice-President .
it shall have legal personality and be directed and managed by a Council , consisting of a President and the Governors of the national central banks , one of whom shall be Vice-President .
The President shall be appointed by common accord of the Governments of the Member States at the level of Heads of State or of Government , on a recommendation from , as the case may be , the Committee of Governors of the central banks of the Member States ( hereinafter referred W as « Committee of Governors ") or thc Council of the EMI , and after consulting the European Parliament and the Council .
The President shall be appointed by common accord of the Governments of the Member States at the level of Heads of State or of Government , on a recommendation from , as the case may be , the Committee of Governors of the central banks of the Member States ( hereinafter referred W as « Committee of Governors ") or thc Council of the EMI , and after consulting the European Parliament and the Council .
The President shall be selected from among persons of recognized standing and professional experience in monetaly o r banking matters .
The President shall be selected from among persons of recognized standing and professional experience in monetaly o r banking matters .
Only nationals of Member States may be President of the EMI .
Only nationals of Member States may be President of the EMI .
The Council of the EM1 shall appoint the Vice-President .
The Council of the EM1 shall appoint the Vice-President .
The Statute of the EM1 is laid down in a Protowl annexed to this Treaty .
The Statute of the EM1 is laid down in a Protowl annexed to this Treaty .
T h e Committee of Governors shall be dissolved at the stan of the second stage .
T h e Committee of Governors shall be dissolved at the stan of the second stage .
The EM1 shall :
The EM1 shall :
the instruments and the procedures necessary for carrying out a single monetary policy in the third stage ;
the instruments and the procedures necessary for carrying out a single monetary policy in the third stage ;
- promote the harmonization , where necessaly , of the rules and pracrices governing the collection , compilation and distribution of statistics in the areas within its field of competence ;
- promote the harmonization , where necessaly , of the rules and pracrices governing the collection , compilation and distribution of statistics in the areas within its field of competence ;
- prepare the rules for operations to be undertaken by the national central banks within framework of the ESCB ;
- prepare the rules for operations to be undertaken by the national central banks within framework of the ESCB ;
- promote the efficiency of cross-border payments ;
- promote the efficiency of cross-border payments ;
- supervise the technical preparation of ECU bank notes .
- supervise the technical preparation of ECU bank notes .
At the latest by 31 December 1996 , the EM1 shall specify the regulatoly , organizational and logistical framework necessaly for the ESCB to perform its tasks in the third stage .
At the latest by 31 December 1996 , the EM1 shall specify the regulatoly , organizational and logistical framework necessaly for the ESCB to perform its tasks in the third stage .
This framework shall be submitted for decision to the ECB at the date of its establishment .
This framework shall be submitted for decision to the ECB at the date of its establishment .
The EMI , acring by a majority of two thirds of the members of its Council , may :
The EMI , acring by a majority of two thirds of the members of its Council , may :
- formulate opinions o r recommendations on the overall orientation of monetary policy and exchange rate policy as well as on related measures introduced in each Member State ;
- formulate opinions o r recommendations on the overall orientation of monetary policy and exchange rate policy as well as on related measures introduced in each Member State ;
- strengthen cooperation between the national cenual banks ;
- strengthen cooperation between the national cenual banks ;
- strengthen the coordination of the monetary policies of the Member States , with the aim of ensuring price stability ;
- strengthen the coordination of the monetary policies of the Member States , with the aim of ensuring price stability ;
- submit
- submit
- monitor the functioning of the European Monetary System ;
- monitor the functioning of the European Monetary System ;
opinions or recommendations to Govetnments and to the Council on policies which might affect the internal or external monetary situation in the Community and , in particular , the functioning of the European Monetary System ;
opinions or recommendations to Govetnments and to the Council on policies which might affect the internal or external monetary situation in the Community and , in particular , the functioning of the European Monetary System ;
- hold
- hold
consulut ~ ons concerning issues falling w h i n the competence of the national cenual banks and affecting the stability of financial institutions and markets ;
consulut ~ ons concerning issues falling w h i n the competence of the national cenual banks and affecting the stability of financial institutions and markets ;
- make recommendations
- make recommendations
W the moneraly authorities of the Member States concerning the conduct of their monervy policy .
W the moneraly authorities of the Member States concerning the conduct of their monervy policy .
N o C 191/19
N o C 191/19
The EMI , acting unanimously , may decide to publish its opinions and its recommendations .
The EMI , acting unanimously , may decide to publish its opinions and its recommendations .
The EM1 shall be consulted by the Council regarding any proposed Community act within its field of competence .
The EM1 shall be consulted by the Council regarding any proposed Community act within its field of competence .
Within the limits and under the conditions set out by the Council , acting by a qualiiied majority on a proposal from the Commission and after consulting the European Parliament and the EMI , the EM1 shall be consulted by the authorities of the Member States on any draft legislauve provision within its field of competence .
Within the limits and under the conditions set out by the Council , acting by a qualiiied majority on a proposal from the Commission and after consulting the European Parliament and the EMI , the EM1 shall be consulted by the authorities of the Member States on any draft legislauve provision within its field of competence .
The Council may , a & g unanimously on a proposal from the Commission and after consulting the European Parliament and the EMI , confer upon the EM1 other tasks for the preparation of the third stage .
The Council may , a & g unanimously on a proposal from the Commission and after consulting the European Parliament and the EMI , confer upon the EM1 other tasks for the preparation of the third stage .
Where this Treaty provides for a consultative role for the ECB , references to the ECB shall be read as referring to the EM1 before the establishment of the ECB .
Where this Treaty provides for a consultative role for the ECB , references to the ECB shall be read as referring to the EM1 before the establishment of the ECB .
Where this Treaty provides for a consultative role for the EMI , references to the EM1 shall be read , before 1 January 1994 , u referring to the Committee of Governors .
Where this Treaty provides for a consultative role for the EMI , references to the EM1 shall be read , before 1 January 1994 , u referring to the Committee of Governors .
During the second stage , the term « E C B used in Articles 173 , 175 , 176 , 177 , 180 and 215 shall be read as referring to the EMI .
During the second stage , the term « E C B used in Articles 173 , 175 , 176 , 177 , 180 and 215 shall be read as referring to the EMI .
If the action taken by a Member State and the measures suggested by the Commission d o not prove sufficient to overcome the difficulties which have arisen o r which threaten , the Commission shall , after consulting the Committee referred to in Article 1 0 9 ~ .
If the action taken by a Member State and the measures suggested by the Commission d o not prove sufficient to overcome the difficulties which have arisen o r which threaten , the Commission shall , after consulting the Committee referred to in Article 1 0 9 ~ .
recommend W the Council the granting of mutual assistance and appropriate methods therefor .
recommend W the Council the granting of mutual assistance and appropriate methods therefor .
The Commission shall keep the Council regularly informed of the situation and of how it is developing .
The Commission shall keep the Council regularly informed of the situation and of how it is developing .
T h e Council , acting by a qualified majority , shall grant such mutual assistance ;
T h e Council , acting by a qualified majority , shall grant such mutual assistance ;
it shall adopt directives or decisions laying down the conditions and details of such assistance , which may take such forms as : ( a ) a concerted approach W or within any other international organizauons W which Member States may have recourse ;
it shall adopt directives or decisions laying down the conditions and details of such assistance , which may take such forms as : ( a ) a concerted approach W or within any other international organizauons W which Member States may have recourse ;
( b ) measures needed to avoid deflection of trade where the State which is in difficulties maintains or reinrroduces quantitative rcsuictions againsr third counties ;
( b ) measures needed to avoid deflection of trade where the State which is in difficulties maintains or reinrroduces quantitative rcsuictions againsr third counties ;
( C ) the granting of limited credits by other Member States , subject to their agreement .
( C ) the granting of limited credits by other Member States , subject to their agreement .
If the mutual assistance recommended by the Commission is not granted by the Council or if the mutual assistance granted and the measures taken are insufficient , the Commission shall authorize the State which is in difficulties to take protective measures , the conditions and details of which the Commission shall determine .
If the mutual assistance recommended by the Commission is not granted by the Council or if the mutual assistance granted and the measures taken are insufficient , the Commission shall authorize the State which is in difficulties to take protective measures , the conditions and details of which the Commission shall determine .
Such authorization may be revoked and such conditions and details may be changed by the Council acting by a qualified majority .
Such authorization may be revoked and such conditions and details may be changed by the Council acting by a qualified majority .
Subject to Article 109k ( 6 ) , this Article shall cease to apply from the beginning of the third stage .
Subject to Article 109k ( 6 ) , this Article shall cease to apply from the beginning of the third stage .
Article 10 %
Article 10 %
The currency composition of the ECU basket shall not be changed .
The currency composition of the ECU basket shall not be changed .
From the start of the third stage , the value of the ECU shall be irrevocably fixed in accordance with Article 1091 ( 4 ) .
From the start of the third stage , the value of the ECU shall be irrevocably fixed in accordance with Article 1091 ( 4 ) .
Where a Member State is in difficulties o r is seriously threatened with difficulties as regards its balance of payments either as a result of an overall disequilibrium in its balance of payments , or as a result of the rype of currency at its disposal , and where such difficulties are liable in particular to jeopardize the functioning of the common market or the progressive implemenuuon of the common commercial policy , the Commission shall immediately investigate the posiuon of the State in question and the action which , making use of all the means at its disposal , that State has uken or may take in accordance with the provisions of this Treaty .
Where a Member State is in difficulties o r is seriously threatened with difficulties as regards its balance of payments either as a result of an overall disequilibrium in its balance of payments , or as a result of the rype of currency at its disposal , and where such difficulties are liable in particular to jeopardize the functioning of the common market or the progressive implemenuuon of the common commercial policy , the Commission shall immediately investigate the posiuon of the State in question and the action which , making use of all the means at its disposal , that State has uken or may take in accordance with the provisions of this Treaty .
The Commission shall state what measures it recommends the State concerned to take .
The Commission shall state what measures it recommends the State concerned to take .
Where a sudden crisis in the balance of payments occurs and a decision within the meaning of Article 109h ( 2 ) is not immediately uken , the Member State concerned may , as a precaution , take the necessaly protective measures .
Where a sudden crisis in the balance of payments occurs and a decision within the meaning of Article 109h ( 2 ) is not immediately uken , the Member State concerned may , as a precaution , take the necessaly protective measures .
Such measures must cause the least possible disturbance in the functioning of the common market and must not be wider in scope than is strictly necessaly to remedy the sudden difficulties which have arisen .
Such measures must cause the least possible disturbance in the functioning of the common market and must not be wider in scope than is strictly necessaly to remedy the sudden difficulties which have arisen .
The Commission and the other Member States shall be informed of such protective measures not
The Commission and the other Member States shall be informed of such protective measures not
No C 191/20
No C 191/20
later than when they enter into force .
later than when they enter into force .
The Commission may recommend to the Council the granting of mutual assistance under Article 109h .
The Commission may recommend to the Council the granting of mutual assistance under Article 109h .
After the Commission has delivered an opinion and the Committee referred to in Article 109c has been consulted , the Council may , acting by a qualified majority , decide that the State concerned shall amend , suspend or abolish the protective measures referred to above .
After the Commission has delivered an opinion and the Committee referred to in Article 109c has been consulted , the Council may , acting by a qualified majority , decide that the State concerned shall amend , suspend or abolish the protective measures referred to above .
The Commission and the EM1 shall report to the Council on the progress made in the fulfilment by the Member States of their obligations regarding the achievement of economic and monetary union .
The Commission and the EM1 shall report to the Council on the progress made in the fulfilment by the Member States of their obligations regarding the achievement of economic and monetary union .
These repom shall include an examination of the compatibility berareen each Member State 's national legislation , including the statutes of its national central bank , and Articles 107 and 108 of this Treaty and the Statute of the ESCB .
These repom shall include an examination of the compatibility berareen each Member State 's national legislation , including the statutes of its national central bank , and Articles 107 and 108 of this Treaty and the Statute of the ESCB .
The repom shall also examine the achievement of a high degree of sustainable convergence by reference to the fulfilment by each Member State of the following criteria :
The repom shall also examine the achievement of a high degree of sustainable convergence by reference to the fulfilment by each Member State of the following criteria :