natgillin/translations-raw huggingface dataset:
Subject to the other provisions of this paragraph the Council shall , before 1 January 1994 , acting by a tqualified majority on a proposal from the Commission and after consulting the European Parliament , lay down detailed rules and definitions for the application of the provisions of the said Protocol .
Subject to the other provisions of this paragraph the Council shall , before 1 January 1994 , acting by a tqualified majority on a proposal from the Commission and after consulting the European Parliament , lay down detailed rules and definitions for the application of the provisions of the said Protocol .
Chapter 2 Monetary policy
Chapter 2 Monetary policy
The primary objective of the ESCB shall be to
The primary objective of the ESCB shall be to
maintain price stability .
maintain price stability .
Without prejudice to the objective of price stability , the ESCB shall suppon the genenl economic policies in the Community with a view to contributing t the achievement of o the objectives of the Community as laid down in Article 2 .
Without prejudice to the objective of price stability , the ESCB shall suppon the genenl economic policies in the Community with a view to contributing t the achievement of o the objectives of the Community as laid down in Article 2 .
The ESCB shall act in accordance with the principle of an open market economy with free competition , favouring an efficient allocation of resources , and in compliance with the principles set out in Article 3a .
The ESCB shall act in accordance with the principle of an open market economy with free competition , favouring an efficient allocation of resources , and in compliance with the principles set out in Article 3a .
The basic tasks to be carried out through the ESCB shall be :
The basic tasks to be carried out through the ESCB shall be :
The ECB shall have the exclusive right to authorize the issue of bank notes within the Community .
The ECB shall have the exclusive right to authorize the issue of bank notes within the Community .
The ECB and the national central banks may issue such notes .
The ECB and the national central banks may issue such notes .
The bank notes issued by the ECB and the national central banks shall be the only such notes to have the status of legal tender within the Community .
The bank notes issued by the ECB and the national central banks shall be the only such notes to have the status of legal tender within the Community .
Member States may issue coins subject to approval by the ECB of the volume of the issue .
Member States may issue coins subject to approval by the ECB of the volume of the issue .
The Council may , acting in accordance with the procedure referred to in Anicle 189c and after consulting the ECB , adopt measures to harmonize the denominations and technical specifications of all coins intended for circulation to the extent necessary to permit their smooth circulation within the Community .
The Council may , acting in accordance with the procedure referred to in Anicle 189c and after consulting the ECB , adopt measures to harmonize the denominations and technical specifications of all coins intended for circulation to the extent necessary to permit their smooth circulation within the Community .
- to define and implement the monetary policy of the Community ;
- to define and implement the monetary policy of the Community ;
c o n d u c r foreign exchange operations consistent with the provisions of Article 109 ;
c o n d u c r foreign exchange operations consistent with the provisions of Article 109 ;
- to hold and manage the official foreign reserves of the Member States ;
- to hold and manage the official foreign reserves of the Member States ;
The ESCB shall be composed of the ECB and of the national central banks .
The ESCB shall be composed of the ECB and of the national central banks .
The ECB shall have legal personality
The ECB shall have legal personality
- to promote the smooth operation of payment systems .
- to promote the smooth operation of payment systems .
The third indent of paragraph 2 shall be without prejudice to the holding and management by the governmenu of Member States of foreign exchange working balances .
The third indent of paragraph 2 shall be without prejudice to the holding and management by the governmenu of Member States of foreign exchange working balances .
The ESCB shall be governed by the decision-making bodies of the ECB which shall be the Governing Council and the Executive Board .
The ESCB shall be governed by the decision-making bodies of the ECB which shall be the Governing Council and the Executive Board .
The Statute of the ESCB is laid down in a
The Statute of the ESCB is laid down in a
Protocol annexed to this Treaty .
Protocol annexed to this Treaty .
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No C 191/15
Artides 5.1 , 5.2 , 5.3 , 17 , 18 , 19.1 , 22 , 23 , 24 , 26 , 32.2 , 32.3 , 32.4 , 32.6 , 33 .
Artides 5.1 , 5.2 , 5.3 , 17 , 18 , 19.1 , 22 , 23 , 24 , 26 , 32.2 , 32.3 , 32.4 , 32.6 , 33 .
l ( a ) and 36 of the Statute
l ( a ) and 36 of the Statute
- make recommendations and deliver opinions .
- make recommendations and deliver opinions .
A regulation shall have general application .
A regulation shall have general application .
It shall be binding in its entirety and directly applicable in all Member States .
It shall be binding in its entirety and directly applicable in all Member States .
of the ESCB may be amended by the Council , acting either by a qualified majority on a recommendation from the ECB and & r wnsulting the Commission or unanimously o n a proposal from the Commission and after consulting the ECB .
of the ESCB may be amended by the Council , acting either by a qualified majority on a recommendation from the ECB and & r wnsulting the Commission or unanimously o n a proposal from the Commission and after consulting the ECB .
In either case , the assent of the European Parliament shall be required .
In either case , the assent of the European Parliament shall be required .
The Council , acting by a qualified majority either
The Council , acting by a qualified majority either
Recommendations and opinions shall have no binding force .
Recommendations and opinions shall have no binding force .
A decision shall be binding in its entirety upon those W
A decision shall be binding in its entirety upon those W
whom it is addressed .
whom it is addressed .
on a proposal from the Commission and after consulting the European Parliament and the ECB o r on a recommendation from the ECB and after consulting the European Parliament and the Commission , shall adopt the provisions referred to in Articles 4 , 5.4 , 19.2 , 20 , 28.1 , 29.2 , 30.4 and 34.3 of the Statute of the ESCB .
on a proposal from the Commission and after consulting the European Parliament and the ECB o r on a recommendation from the ECB and after consulting the European Parliament and the Commission , shall adopt the provisions referred to in Articles 4 , 5.4 , 19.2 , 20 , 28.1 , 29.2 , 30.4 and 34.3 of the Statute of the ESCB .
Article 107 When exercising the powers and carrying out the tasks and duties conferred upon them by this Treaty and the Statute of the ESCB , neither the ECB , nor a national central bank , nor any member of their decision-making bodies shall seek or take instructions from Community institutions or bodies , from any government of a Member State or from any other body .
Article 107 When exercising the powers and carrying out the tasks and duties conferred upon them by this Treaty and the Statute of the ESCB , neither the ECB , nor a national central bank , nor any member of their decision-making bodies shall seek or take instructions from Community institutions or bodies , from any government of a Member State or from any other body .
The Community institutions and bodies and the governments of the Member States undertake to respect this principle and not W seek to influence the members of the decision-making bodies of the ECB or of the national central banks in the performance of their casks .
The Community institutions and bodies and the governments of the Member States undertake to respect this principle and not W seek to influence the members of the decision-making bodies of the ECB or of the national central banks in the performance of their casks .
Article l08 Each Member State shall ensure , at the latest at the date of the establishment of the ESCB , that its national legislation including the statutes of its national central bank is compatible with this Treaty and the Statute of the ESCB .
Article l08 Each Member State shall ensure , at the latest at the date of the establishment of the ESCB , that its national legislation including the statutes of its national central bank is compatible with this Treaty and the Statute of the ESCB .
Article 1080 I .
Article 1080 I .
In order W carry out the casks enuusted to the ESCB , the ECB shall , in accordance with the provisions of this Treaty and under the conditions laid down in the Statute of the ESCB :
In order W carry out the casks enuusted to the ESCB , the ECB shall , in accordance with the provisions of this Treaty and under the conditions laid down in the Statute of the ESCB :
Articles 190 to 192 shall apply decisions adopted by the ECB .
Articles 190 to 192 shall apply decisions adopted by the ECB .
regulations and
regulations and
The ECB may decide to publish its decisions , recommendations and opinions .
The ECB may decide to publish its decisions , recommendations and opinions .
Within the limits and under the conditions adopted by the Council under the procedure laid down in Article 106 ( 6 ) , the ECB shal be entitled to impose fines or periodic penalty payments on undertakings for failure W comply with obligations under its regqlations and decisions .
Within the limits and under the conditions adopted by the Council under the procedure laid down in Article 106 ( 6 ) , the ECB shal be entitled to impose fines or periodic penalty payments on undertakings for failure W comply with obligations under its regqlations and decisions .
Article 109 I .
Article 109 I .
By way of derogation from Article 228 , the Council may , acting unanimously on a recommendation from the ECB or from the Commission , and after consulting the ECB in an endeavour to reach a consensus consistent with the objective of price stability , after consulting the European Parliament , in accordance with the procedure in paragraph 3 for determining the arrangements , conclude formal agreements on an exchange rate system for the ECU in relation W non-Community currencies .
By way of derogation from Article 228 , the Council may , acting unanimously on a recommendation from the ECB or from the Commission , and after consulting the ECB in an endeavour to reach a consensus consistent with the objective of price stability , after consulting the European Parliament , in accordance with the procedure in paragraph 3 for determining the arrangements , conclude formal agreements on an exchange rate system for the ECU in relation W non-Community currencies .
The Council may , acting by a qualified majority o n a recommendation from the ECB or from the Commission , and after consulting the ECB in an endeavour to reach a consensus consistent with the objective of price stability , adopt , adjust or abandon the central rates of the ECU within the exchange rate system .
The Council may , acting by a qualified majority o n a recommendation from the ECB or from the Commission , and after consulting the ECB in an endeavour to reach a consensus consistent with the objective of price stability , adopt , adjust or abandon the central rates of the ECU within the exchange rate system .
The President of the Council shall inform the European Parliament of the adoption , adjustment or abandonment of the ECU central rates .
The President of the Council shall inform the European Parliament of the adoption , adjustment or abandonment of the ECU central rates .
In the absence of an exchange rate system in relation to one o r more non-Community currencies as referred to in paragraph I , the Council , acting by a qualified majority either on a recommendation from the Commission and after consulting the ECB o r on a recommendation from the ECB , may formulate general orientations for exchange rate policy in relation to these currencies .
In the absence of an exchange rate system in relation to one o r more non-Community currencies as referred to in paragraph I , the Council , acting by a qualified majority either on a recommendation from the Commission and after consulting the ECB o r on a recommendation from the ECB , may formulate general orientations for exchange rate policy in relation to these currencies .
These general orientations shall be without prejudice to the primary objective of the ESCB to maintain price stability .
These general orientations shall be without prejudice to the primary objective of the ESCB to maintain price stability .
By way of derogation from Article 228 , where agreements concerning monetary or foreign exchange regime matters need W be negotiated by
By way of derogation from Article 228 , where agreements concerning monetary or foreign exchange regime matters need W be negotiated by
- make
- make
regulations to the extent necessary to implement the tasks defined in Article 3.1 , first indent , Articles 19.1 , 22 and 25.2 of the Statute of the ESCB and in cases which shall be laid down in the acts of the Council referred to in Article 106 ( 6 ) ;
regulations to the extent necessary to implement the tasks defined in Article 3.1 , first indent , Articles 19.1 , 22 and 25.2 of the Statute of the ESCB and in cases which shall be laid down in the acts of the Council referred to in Article 106 ( 6 ) ;
- take decisions necessary for canying out the tasks entrusted to the ESCB under this Treaty and the Statute of the ESCB ;
- take decisions necessary for canying out the tasks entrusted to the ESCB under this Treaty and the Statute of the ESCB ;
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No C 191/16
Offkial Journal of the European Communities
Offkial Journal of the European Communities
the Community with one or more States or international organizations , the Council , acting by a qualified majority on a recommendation from the Commission and after consulting the ECB , shall decide the anangements for the negotiation and for the conclusion of such agreements .
the Community with one or more States or international organizations , the Council , acting by a qualified majority on a recommendation from the Commission and after consulting the ECB , shall decide the anangements for the negotiation and for the conclusion of such agreements .
These anangemcnts shall ensure that the Community expresses a single position .
These anangemcnts shall ensure that the Community expresses a single position .
The Commission shall be fully associated with the negotiations .
The Commission shall be fully associated with the negotiations .
Agreements concluded in accordance with this paragraph shall be binding on the institutions of the Community , on the ECB and on Member States .
Agreements concluded in accordance with this paragraph shall be binding on the institutions of the Community , on the ECB and on Member States .
Subject to paragraph I , the Council shall , on a proposal from the Commission and a h r consulting the ECB , acting by a qualified majority decide on the position of the Community at international l ~ c l as regards issues of particular relevance W economic and monetary union and , acting unanimously , decide its representation in compliance with the allocation of powers laid down in Articles 103 and 105 .
Subject to paragraph I , the Council shall , on a proposal from the Commission and a h r consulting the ECB , acting by a qualified majority decide on the position of the Community at international l ~ c l as regards issues of particular relevance W economic and monetary union and , acting unanimously , decide its representation in compliance with the allocation of powers laid down in Articles 103 and 105 .
Without prejudice to Community competence and Community agreements as regards economic and monetary union , Member States may negotiate in international bodies and conclude international agreements .
Without prejudice to Community competence and Community agreements as regards economic and monetary union , Member States may negotiate in international bodies and conclude international agreements .
The President of the Council and a member of the Commission may participate , without having the tight to vote , in meetings of the Governing Council of the ECB .
The President of the Council and a member of the Commission may participate , without having the tight to vote , in meetings of the Governing Council of the ECB .
The President of the Council may submit a motion for deliberation W the Governing Council of the ECB .
The President of the Council may submit a motion for deliberation W the Governing Council of the ECB .
The President of the ECB shall be invited W panicipate in Council meetings when the Council is discussing matters relating W the objectives and tasks of the ESCB .
The President of the ECB shall be invited W panicipate in Council meetings when the Council is discussing matters relating W the objectives and tasks of the ESCB .
The ECB shall address an annual report on the activities of the ESCB and on the monetary policy of both the previous and current year to the European Parliament , the Council and the Commission , and also to the European Council .
The ECB shall address an annual report on the activities of the ESCB and on the monetary policy of both the previous and current year to the European Parliament , the Council and the Commission , and also to the European Council .
The President of the ECB shall present this report W the Council and W the European Parliament , which may hold a general debate on that basis .
The President of the ECB shall present this report W the Council and W the European Parliament , which may hold a general debate on that basis .
The President of the ECB and the other members of the Executive Board may , at the request of the European Parliament or on their own initiative , be heard by the competent Committees of the European Padiament .
The President of the ECB and the other members of the Executive Board may , at the request of the European Parliament or on their own initiative , be heard by the competent Committees of the European Padiament .
Chapter 3
Chapter 3
Article 1090 1 .
Article 1090 1 .
The Governing Council of the ECB shall comprise the members of the Exbcutive Board of the ECB and the Governors of the national cenual banks .
The Governing Council of the ECB shall comprise the members of the Exbcutive Board of the ECB and the Governors of the national cenual banks .
In order to promote coordination of the policies of Member States to the full extent needed for the functioning of the internal market , a Monetuy Committee with advisory status is hereby set up .
In order to promote coordination of the policies of Member States to the full extent needed for the functioning of the internal market , a Monetuy Committee with advisory status is hereby set up .
It shall have the following tasks : W keep under review the monetuy and financial situation of the Member States and of the Community and the general payments system of the Member States and W repon regularly thereon to the Council and to the Commission ;
It shall have the following tasks : W keep under review the monetuy and financial situation of the Member States and of the Community and the general payments system of the Member States and W repon regularly thereon to the Council and to the Commission ;
W deliver opinions at the request of the Council or of the Commission , or on its own initiative for submission to those institutions ;
W deliver opinions at the request of the Council or of the Commission , or on its own initiative for submission to those institutions ;
( a ) The Executive Board shall comprise the
( a ) The Executive Board shall comprise the
President , the Vice-President and four other members .
President , the Vice-President and four other members .
( b ) The President , the Vice-President and the other members of the Executive Board shall be appointed from among persons of recognized standing and professional experience in monetary or banking matters by common accord of the Governments of the Member States at the level of Heads of State or of Government , on a recommendation from the Council , afur it has consulted the European Parliament and the Governing Council of the ECB .
( b ) The President , the Vice-President and the other members of the Executive Board shall be appointed from among persons of recognized standing and professional experience in monetary or banking matters by common accord of the Governments of the Member States at the level of Heads of State or of Government , on a recommendation from the Council , afur it has consulted the European Parliament and the Governing Council of the ECB .
Their term of office shall be eight years and shall not be renewable .
Their term of office shall be eight years and shall not be renewable .
Only nationals of Member States may bc members of the Executive Board .
Only nationals of Member States may bc members of the Executive Board .
without prejudice to Article 151 , to contribute to the preparation of the work of the Council o refemd t in Articles 73f , 73g , 103 ( 2 ) , ( 3 ) , ( 4 ) and ( S ) , 103a .
without prejudice to Article 151 , to contribute to the preparation of the work of the Council o refemd t in Articles 73f , 73g , 103 ( 2 ) , ( 3 ) , ( 4 ) and ( S ) , 103a .
104a , 104b .
104a , 104b .
104c , 109c ( 2 ) , 109f ( 6 ) , 109h , 109i , 109j ( 2 ) and 109k ( l ) ;
104c , 109c ( 2 ) , 109f ( 6 ) , 109h , 109i , 109j ( 2 ) and 109k ( l ) ;
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 , c 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 , c adopted by the Council ;
& examination shall cover all measures relating W capital movements W
& examination shall cover all measures relating W capital movements W
No C 191/17
No C 191/17
and payments ;
and payments ;
the Commitue shall report to the Commission and W the Council on the outcome of this examination .
the Commitue shall report to the Commission and W the Council on the outcome of this examination .
The Member Srates and the Commission shall each appoint two members of the Monetary Committee .
The Member Srates and the Commission shall each appoint two members of the Monetary Committee .
At the start of the third srage , an Economic and Financial Committee shall be set up .
At the start of the third srage , an Economic and Financial Committee shall be set up .
The Monetary Committee provided for in paragraph 1 shall be dissolved .
The Monetary Committee provided for in paragraph 1 shall be dissolved .
T h e Economic and Financial Committee shall have the following tasks :
T h e Economic and Financial Committee shall have the following tasks :
gation as referred W in Articles 109k and 1091 , the Committee shall keep under review the monetary and financial situatioq and the general payments system of those Member Srates and report regularly thereon to the Council and to the Commission .
gation as referred W in Articles 109k and 1091 , the Committee shall keep under review the monetary and financial situatioq and the general payments system of those Member Srates and report regularly thereon to the Council and to the Commission .
Article 109d For matters within the scope of Anicles 103 ( 4 ) , 104c with the exception of paragraph 14 , 109 , 1091 , 109k and 1091 ( 4 ) and ( 5 ) , the Council or a Member State may request the Commission to make a recommendation or a proposal , as appropriate .
Article 109d For matters within the scope of Anicles 103 ( 4 ) , 104c with the exception of paragraph 14 , 109 , 1091 , 109k and 1091 ( 4 ) and ( 5 ) , the Council or a Member State may request the Commission to make a recommendation or a proposal , as appropriate .