natgillin/translations-raw huggingface dataset:
Therefore, it is not possible to say whether the deadlines set under the second programme were too ambitious or not: implementation was not even attempted as the programme was ended before implementation could be completed. 
Zato se ne može ustvrditi jesu li rokovi postavljeni u okviru drugog programa bili preambiciozni ili ne: nije ni došlo do pokušaja provedbe jer je program obustavljen prije nego što se provedba mogla dovršiti.
Further, the new appraisal system is being implemented under the ESM programme. 
Osim toga, novi sustav vrednovanja primjenjuje se u okviru programa ESM-a.
Time between agreement of conditionality and completion of secondary legislation was ten months (August 2015 to June 2016), one month less than what was provided for in the second programme; while an actual assessment is being done in 2017 because it is based on year-end 2016 data, as it should be in order to get a full picture over time. 
Razdoblje između usuglašavanja uvjeta i dovršetka sekundarnog zakonodavstva trajalo je 10 mjeseci (od kolovoza 2015. do lipnja 2016.), jedan mjesec manje nego što je bilo predviđeno u drugom programu. Stvarna procjena provodi se u 2017. jer se temelji na podacima s kraja 2016., što je i potrebno za cjelovit pregled vremenskog razdoblja.
Key determinants of credit supply were addressed in the programmes, which included policies that addressed bank capital and liquidity, as well as tackling NPLs. 
Programi su se bavili ključnim odrednicama ponude kredita, što je obuhvaćalo politike koje se odnose na kapital banaka i likvidnost te loše kredite.
The factors behind credit contraction are complex and reflect structural problems in credit markets. 
Čimbenici smanjenja razine kreditiranja složeni su i upućuju na strukturne probleme na tržištima kredita.
The high interest rate charged for new loans is, therefore, largely rather a symptom of a deep recession, due to borrowers' inability to repay their loans. 
Visoke kamatne stope koje se primjenjuju na nove kredite stoga su uglavnom simptom duboke recesije jer zajmoprimci ne mogu vraćati kredite.
At the same time, the Commission has worked to increase financing from EU and International Financial Institutions (EBRD, EIB, EIF) which includes financing instruments for SMEs. 
Istodobno je Komisija nastojala povećati financiranje iz izvora EU-a i međunarodnih financijskih institucija (EBRD, EIB, EIF), uključujući financijske instrumente za MSP-ove.
The analysis was a shared view of all institutions involved and was based on information available at that time. It was also based on input from independent experts. 
U analizi je izneseno zajedničko stajalište svih uključenih institucija, a temeljila se na informacijama dostupnima u tom trenutku te na mišljenjima neovisnih stručnjaka.
The recapitalisation framework was prepared by professional investment bankers, which were consultants to the HFSF, the Bank of Greece and the Ministry of Finance. 
Okvir za dokapitalizaciju izradili su profesionalni investicijski bankari u svojstvu savjetnika GFFS-a, grčke središnje banke i Ministarstva financija.
The capital needs in 2013, 2014 and 2015 were determined under the sole responsibility of the supervisors. 
Za utvrđivanje potreba za kapitalom u 2013., 2014. i 2015. isključivo su bila odgovorna nadzorna tijela.
The Commission and the other institutions merely provided technical support to develop the framework of the stress test. 
Komisija i druge institucije samo su pružale tehničku pomoć u izradi okvira za testiranje otpornosti na stres.
Furthermore, political events and ensuing uncertainty and instability had a significant negative impact on GDP growth, and constitutes thus an element that could not have been anticipated. 
Nadalje, politički događaji te nesigurnost i nestabilnost koje su iz njih proizašle jako su negativno utjecali na rast BDP-a pa se stoga radi o elementu koji se nije mogao predvidjeti.
It is the responsibility of the national authorities to implement a predefined task within the agreed perimeter. 
Za provedbu unaprijed utvrđenog zadatka u dogovorenom opsegu odgovorna su nacionalna tijela.
The Commission does not interfere in the relationship between the supervisor and the banks. 
Komisija se ne upliće u odnos između nadzornog tijela i banaka.
According to EU State aid rules, aid should be limited to the minimum necessary and hence used to cover the capital needs of the bank only if no private market funds became available. 
Prema pravilima EU-a o državnim potporama potpore treba ograničiti na nužni minimum i stoga upotrebljavati za pokrivanje kapitalnih potreba banke samo ako nisu dostupna sredstva privatnih tržišta.
As explained in the Commission's State aid decisions adopted in 2014 and 2015, the participation of the HFSF cannot be considered as a market transaction as the Fund did not invest under the same terms and in the same transactions as the other investors. 
Komisija je u svojim odlukama o državnim potporama iz 2014. i 2015. objasnila da se sudjelovanje GFFS-a ne može smatrati tržišnom transakcijom jer taj fond nije ulagao pod istim uvjetima i u istim transakcijama kao drugi ulagači.
In the 2014 recapitalisation, a mechanism was introduced to calculate a price at which the HFSF was authorised to participate, precisely to avoid excessive dilution of the HFSF. 
U dokapitalizaciji iz 2014. uveden je mehanizam 6 za izračun cijene pri kojoj se GFFS smije upotrebljavati, upravo kako bi se izbjeglo prekomjerno razvodnjavanje GFFS-a.
In the 2015 recapitalisation, no minimum price for HFSF participation was determined ex ante due to specific market conditions and, as of a decision of the authorities, the subscription price for the HFSF was determined by a book building process performed and monitored by international experts. 
U dokapitalizaciji iz 2015. minimalna cijena za uporabu GFFS-a nije utvrđena ex ante zbog specifičnih tržišnih uvjeta te je odlukom grčkih tijela cijena upisa za GFFS određena u okviru procesa prikupljanja ponuda (engl. book building) koji su proveli i nadzirali međunarodni stručnjaci.
These mechanisms helped reduce the losses for the HFSF. 
Ti su mehanizmi pridonijeli smanjenju gubitaka GFFS-a.
Share price developments in the following recapitalisation reflect the extent of the risk undertaken by the private investors amid conditions of heightened uncertainty. 
Kretanje cijena dionica u sljedećoj dokapitalizaciji upućuje na razmjere rizika koji su privatni ulagači preuzeli u uvjetima povećane nesigurnosti.
In the specific case of Greece, it quickly became obvious to all institutions involved in the programme, that the creation of an AMC would not constitute an adequate solution for a variety of reasons: heterogeneity of NPLs spreading over most economic sectors, extreme cost of such structure, governance concerns, importance of the bank-client relation in a context of widespread strategic default, impact on banks' balance sheets, etc. 
U specifičnom slučaju Grčke sve su institucije uključene u program ubrzo shvatile da uspostava društva za upravljanje imovinom ne bi bila prikladno rješenje zbog više razloga: raznorodnosti loših kredita u većini gospodarskih sektora, iznimno visokih troškova takve strukture, problema sa sustavom upravljanja, važnosti odnosa banke i klijenata u kontekstu velikog broja dužnika koji su donijeli stratešku odluku da prestanu otplaćivati dug, utjecaja na bilance banaka itd.
Improving insolvency legislation and judicial capacity is a complex reform that can only be achieved by a multitude of actions. 
Poboljšanje zakonodavstva o insolventnosti i kapaciteta pravosuđa složena je reforma ostvariva samo uz velik broj mjera.
Several legislative changes, including to the Insolvency Code and the creation of an Out Of Court framework, were introduced between 2010 and 2014. 
U razdoblju između 2010. i 2014. uvedeno je nekoliko izmjena zakonodavstva, među kojima i izmjene Zakona o insolventnosti, a izrađen je i okvir za izvansudske nagodbe.
Moratoria on foreclosures were introduced as a unilateral action by the Greek authorities and prolonged (the last extension was until 30 October 2015). 
Grčka su tijela jednostranom odlukom uvela i produljivala moratorij na ovrhe (zadnje produljenje bilo je na snazi do 30. listopada 2015.).
Box 10 It is recalled that ultimately the responsibility for the successful implementation of reforms has been and remains the responsibility of the Greek authorities. 
Okvir 10. Komisija podsjeća da krajnju odgovornost za uspješnu provedbu reformi uvijek snose grčka tijela.
Please see reply to paragraph 85. 
Vidjeti odgovor na odlomak 85.
Whereas the market for NPL servicing and sales was established under the ESM programme, the 2nd programme already contained a request to develop a Comprehensive NPL Strategy as a key condition under the MoU; the Greek authorities were, therefore, already required to remove key impediments to the creation of an active NPL market well before the law of December 2015 was adopted. 
Tržište za otplaćivanje i prodaju loših kredita uspostavljeno je u okviru programa ESM-a, no već je drugi program sadržavao zahtjev da se izradi sveobuhvatna strategija za loše kredite kao ključni uvjet iz Memoranduma o razumijevanju. Grčka tijela bila su prema tome obvezna ukloniti ključne prepreke uspostavi funkcionalnog tržišta loših kredita puno prije nego što je donesen zakon iz prosinca 2015.
Additionally, the Commission along with other institutions and international partners asked to remove all impediments to the free NPL market (overly bureaucratic procedures, supervisory requests, levies on NPL sales etc.) that contributed to amending the law in the following months in view of the closing of the first review. 
Osim toga, Komisija je zajedno s drugim institucijama i međunarodnim partnerima zatražila uklanjanje svih prepreka slobodnom tržištu loših kredita (prekomjerna birokratizacija postupaka, zahtjevi nadzornih tijela, nameti na prodaju loših kredita itd.), što je pridonijelo izmjeni zakona u narednim mjesecima u skladu s dovršetkom prvog preispitivanja.
Finally, the main remaining impediments were removed thereafter, in 2017. 
Konačno, preostale glavne prepreke uklonjene su 2017.
7 8 
87.
The ultimate responsibility for the successful implementation of reforms remains with the Greek authorities. 
Krajnju odgovornost za uspješnu provedbu reformi snose grčka tijela.
The focus of the first programme was mainly on the immediate critical fiscal policies, while the banking sector was considered relatively sound at the time. 
U prvom je programu naglasak prije svega stavljen na neposredna kritičnae područja fiskalne politike, dok se bankarski sektor u tom trenutku smatrao razmjerno zdravim.
While it is correct that the first programme did not include any direct conditions on bank governance, this issue was indirectly touched upon as part of the programme conditions for the establishment of the HFSF. 
Iako je točno da prvi program nije sadržavao izravne uvjete u pogledu upravljanja bankama, taj se problem neizravno rješavao definiranjem uvjeta programa za uspostavu GFFS-a.
The Hellenic Financial Stability Fund was already established under the first programme with the objective to strengthen the health and resilience of the banking sector, where governance was one of the major concerns. 
Grčki fond za financijsku stabilnost već je bio uspostavljen u okviru prvog programa s ciljem da se ojačaju zdravlje i otpornost bankarskog sektora, pri čemu je sustav upravljanja bio jedan od glavnih problema.
Bank governance issues gained prominence in expectation of the additional use of public funds to recapitalise banks under the current ESM programme. 
Problemi sustava upravljanja bankama došli su do izražaja u očekivanju dodatnog korištenja javnih sredstava za dokapitalizaciju banaka u okviru tekućeg programa ESM-a.
To unilaterally replace the management of private banks raises legal difficulties in justifying direct intervention within property rights. 
Jednostrano smjenjivanje uprava privatnih banaka problematično je s pravnog stajališta jer se moraju obrazložiti izravne intervencije u pravo vlasništva.
It is the role of the shareholders to agree on the bank management, as recognised by EU law. 
Pravom EU-a predviđeno je da o upravi banke odlučuju dioničari.
Initially, the HFSF was not involved on the grounds that profound governance changes in the midst of a severe crisis would have aggravated deposit outflows, depleted these banks of experienced management and hence created serious financial stability risks. 
U početku se GFFS nije uključivao jer bi velike promjene sustava upravljanja usred teške krize intenzivirale odljev depozita, lišile banke iskusnog rukovodstva i time ozbiljno ugrozile financijsku stabilnost.
This was the time when many banks were to carry out a capital increase to cover their significant capital needs. 
U to su se vrijeme mnoge banke spremale povećati svoj kapital kako bi pokrile velike potrebe za kapitalom.
In the absence of early progress to enhance the governance of banks' boards, the issue has been addressed under a condition in the MoU of the ESM programme. 
Budući da u ranoj fazi nije ostvaren napredak u poboljšanju sustava upravljanja bankama, problem je riješen određivanjem uvjeta u Memorandumu o razumijevanju u okviru programa ESM-a.
The additional requirements help ensure that boards of higher quality and free from outside interference are established. 
Dodatnim zahtjevima pridonosi se formiranju kvalitetnijih upravnih odbora bez vanjskog uplitanja.
Given that Greece faced an unprecedented problem of liquidity, capital and asset quality, it was crucial that the banks' boards hire the best possible experts to address the specific challenges of the Greek banks. 
S obzirom na to da je Grčka imala dotad nezabilježene probleme s likvidnosti i kvalitetom kapitala i imovine, bilo je presudno da upravni odbori banaka angažiraju najbolje stručnjake kako bi rješavali specifične probleme grčkih banaka.
The Commission with the other institutions carefully monitored the less significant institutions; however, ensuring financial stability while focusing on the systemic banks was the priority. 
Komisija i druge institucije pažljivo su pratile manje važne institucije, no prioritet je bio osigurati financijsku stabilnost s fokusom na banke od sistemske važnosti.
Under the ESM programme, less significant institutions were not eligible for public/Programme funds for recapitalisation. 
U okviru programa ESM-a manje važne institucije nisu imale mogućnost dokapitalizacije javnim/programskim sredstvima.
Hence, there is no justification by the programme to intervene in these banks as long as they were not in breach of prudential requirements. 
Stoga nije bilo opravdano intervenirati u te banke u okviru programa ako nisu kršile bonitetne zahtjeve.
The institutions had no role in the mentioned audit but welcomed the decision of the supervisors to perform it. 
Institucije nisu imale ulogu u navedenoj reviziji, ali su pozdravile odluku nadzornih tijela da se ona provede.
Supervisory issues related to the Less Significant Institutions (LSIs) were captured in the Comprehensive Financial Sector Framework, which included the restructuring of the entire banking sector where several LSIs have been resolved or liquidated. 
Problemi u pogledu nadzora manje važnih institucija uvršteni su u sveobuhvatni okvir za financijski sektor, koji je uključivao restrukturiranje cijelog bankarskog sektora uz sanaciju ili stečaj nekoliko manje važnih institucija.
The HFSF Law contains detailed rules regarding decisions which are within the remit of the Executive Board and those of the General Council (Art 4). 
Zakon o GFFS-u sadržava detaljna pravila o tome koje odluke donosi izvršni odbor, a koje glavna skupština (članak 4.).
The responsibility for any incorrect implementation solely lies with the HFSF since the institutions have no responsibility for the management of its tasks. 
Za bilo kakvu nepravilnu primjenu Zakona isključivo je odgovoran GFSS jer institucije nisu odgovorne za upravljanje njegovim poslovima.
While not all changes can be attributed to programme requirements, a number of changes were indeed necessary to improve the functioning of the HFSF and were related, in particular, to the need to ensure the independence of the HFSF from outside political influence. 
Iako se sve promjene ne mogu pripisati zahtjevima programa, brojne su promjene zaista bile nužne kako bi se poboljšalo funkcioniranje GFFS-a, a prije svega su se odnosile na potrebu da se osigura neovisnost GFFS-a od vanjskih političkih utjecaja.
While there were potential downsides to such changes, benefits were deemed to outweigh the costs. 
Iako su te promjene imale potencijalne nedostatke, smatralo se da koristi premašuju nedostatke.
This situation should be assessed in the wider context of the prevailing difficult situation in the financial markets, which does not allow for swift recovery of investment. 
Situaciju treba ocijeniti u širem kontekstu ukupne teške situacije na financijskim tržištima koja onemogućuje brz povrat ulaganja.
The successful recapitalisation, substantial restructuring and regulatory and governance reforms, undertaken in direct response to contain the unfolding negative events, allowed for stabilisation of the entire system. 
Uspješnom dokapitalizacijom, temeljitim restrukturiranjem i reformama zakonodavnog i upravnog sustava, koji su provedeni kao izravan odgovor kako bi se spriječilo širenje negativnih učinaka, omogućena je stabilizacija cijelog sustava.
This ensured the achievement of the key objective of the programmes, namely financial stability. 
Tako je ostvaren ključni cilj programâ, a to je financijska stabilnost.
The alternative scenario (i.e. financial system collapse) would have brought about significant financial, economic and social costs. 
Alternativni scenarij (odnosno urušavanje financijskog sustava) uzrokovao bi znatne financijske, gospodarske i socijalne troškove.
While there was clear awareness of the risks stemming from the grey zone, their meaningful assessment would have been impossible given their illegal nature (illegal under-reporting of earnings). 
Iako je Komisija bila potpuno svjesna rizika koji proizlaze iz sive zone, smislena procjena tih rizika nije bi bila moguća zbog njihove nezakonitosti (nezakonito neprijavljivanje dijela prihoda).
The Commission recalls that the negotiations were conducted jointly with other institutions. 
Komisija podsjeća da su se pregovori vodili u suradnji s drugim institucijama.
See Commission reply to paragraph V of the Executive Summary (institutional setting). 
Vidjeti odgovor Komisije na odlomak V. sažetka (institucionalno okruženje). 8
Measures in the field of collective bargaining were agreed and undertaken in a gradual and progressive manner. 
Dogovorene su mjere u području kolektivnog pregovaranja, koje su se poduzimale postupno i kontinuirano.
This, however, did not stem from a failure to recognise that the Greek economy is characterised by the prevalence of micro and small enterprises. Rather, it reflects a prudent approach, with subsequent additional interventions – such as the introduction of "unions of persons" allowing firm-level bargaining to take place also in companies without trade union representation, which affected more directly the existing national practice – being taken at a later stage in response to an ever-deteriorating situation. 
Razlog tomu nije bilo neprepoznavanje činjenice da u grčkom gospodarstvu prevladavaju mikropoduzeća i mala poduzeća, nego razborit pristup s naknadnim dodatnim intervencijama koje su poduzete u kasnijoj fazi kao odgovor na sve lošiju situaciju, među kojima je bilo, primjerice, i uvođenje „udruženja osoba”, čime je omogućeno pregovaranje na razini poduzeća i u društvima bez sindikalnih predstavnika, što je izravnije utjecalo na postojeću nacionalnu praksu.
On the topic of labour market reforms, the same themes were included under the ESM programme as in the previous programmes for two main reasons: firstly, some of the measures agreed under the second programme had not been implemented; secondly, the ESM programme foresaw a comprehensive review of the measures that had been implemented in the past – some of which of a temporary nature – to establish whether these were still adequate and necessary. 
Kad je riječ o reformama tržišta rada, u program ESM-a uključene su teme iz prethodnih programa zbog dva glavna razloga: prvo, neke od mjera dogovorenih u okviru drugog programa nisu bile provedene; drugo, programom ESM-a bilo je predviđeno sveobuhvatno preispitivanje mjera koje su prethodno provedene, od kojih su neke bile privremene naravi, kako bi se utvrdilo jesu li još uvijek prikladne i potrebne.
While recognising important delays in implementation, the Commission considers that the timing and sequencing were appropriate. 
Iako je Komisija svjesna velikih kašnjenja u provedbi, smatra da su vremenski okvir i slijed aktivnosti bili primjereni.
Box 11 The minimum wage set in the national collective labour agreement was reduced by law, and a new framework introducing a statutory minimum wage was established. 
Okvir 11. Minimalna plaća utvrđena nacionalnim kolektivnim ugovorom o radu smanjena je u skladu sa zakonom i uspostavljen je novi okvir za uvođenje zakonske minimalne plaće.
This reform deeply changed the nature of minimum wage setting in Greece, from collectively agreed (autonomously by social partners) to statutory (set by government). 
Reformom se dubinski promijenila priroda utvrđivanja minimalne plaće u Grčkoj, s kolektivno ugovorene (koju samostalno dogovaraju socijalni partneri) na zakonsku minimalnu plaću (koju utvrđuje vlada).
At the same time, the newly established framework was meant to be applied after the programme (i.e. under stable economic and labour market conditions), with the level of the minimum wage being kept frozen over the programme horizon. 
Osim toga, novi se okvir trebao početi primjenjivati nakon programa (odnosno u uvjetima stabilnog tržišta rada i ekonomije), a razina minimalne plaće trebala je ostati zamrznuta tijekom trajanja programa.
Third indent: The reference to a quantitative level (15% reduction) was included as an indication of the order of magnitude of the reduction expected in unit labour costs. 
Treća alineja: Kvantitativna razina (smanjenje od 15 %) spomenuta je kako bi se uputilo na razmjer očekivanog smanjenja jediničnih troškova rada.
Developments in the latter variable are the result of complex interactions, which can be influenced but not directly "controlled" by the public authorities. 
Promjene jediničnih troškova rada rezultat su složenih interakcija na koje tijela javne uprave mogu utjecati, ali ne mogu ih izravno „kontrolirati”.
It would therefore be wrong to take this level as a clear target against which to measure success/performance. 
Stoga je pogrešno uzeti tu razinu kao fiksni cilj prema kojemu će se određivati uspješnost/rezultati.
PART III - ACHIEVEMENT OF PROGRAMME OBJECTIVES 106. 
DIO III. – OSTVARIVANJE CILJEVA PROGRAMA 106.
When considering whether the financial assistance programmes met their main objectives, it is the responsibility of the national authorities to implement, timely and effectively, the reforms. In 9 
Pri razmatranju jesu li programi financijske pomoći ostvarili svoje glavne ciljeve treba imati na umu da su za pravodobnu i djelotvornu provedbu reformi odgovorna nacionalna tijela.
particular, it is important to take into account all the external factors beyond the control or influence of the institutions, such as the economic and political environment, administrative capacity, ownership of the reform process, communication policy, and any unexpected shocks (e.g. early elections, a deeper global recession) or other exogenous factors. 
Osobito je važno uzeti u obzir sve vanjske čimbenike koji su izvan kontrole ili utjecaja institucija, primjerice gospodarsko i političko okruženje, administrativne kapacitete, odgovornost za proces reformi, komunikacijsku politiku i sve neočekivane šokove (npr. prijevremene izbore, dublju globalnu recesiju), ili druge egzogene čimbenike.