natgillin/translations-raw huggingface dataset:
Interested parties have the right to remain silent, to refrain from incriminating themselves and to seek personal legal assistance.
Zainteresirane strani imajo pravico, da molčijo, da ne izpovejo zoper sebe in da poiščejo osebno pravno pomoč.
In cases necessitating the maintenance of absolute secrecy for the purpose of the investigation and/or requiring the use of investigative procedures falling within the remit of a national judicial authority, compliance with the obligation to invite a participant in the decision-making or other bodies or a relevant person to express their views may be deferred for a limited period in agreement with the President or Vice-President.
V primerih, ko je za namene preiskave nujno ohraniti popolno tajnost in/ali je treba uporabiti preiskovalne postopke, ki spadajo v pristojnost nacionalnega sodnega organa, se lahko izpolnitev obveznosti, da se člana organa odločanja ali drugega organa ali zadevno osebo pozove, naj izrazi svoja stališča, odloži za določen čas v soglasju s predsednikom ali podpredsednikom.
Information on the closing of an investigation with no further action taken
Obveščanje o zaključku preiskave brez nadaljnjih ukrepov
If, following an internal investigation, no case can be made against a participant in the decision-making and other bodies or a relevant person against whom allegations have been made, the internal investigation shall be closed, with no further action taken, by decision of the Director-General of the Office, who shall inform the participant in the decision-making and other bodies or relevant person thereof in writing.
Če po notranji preiskavi ni mogoče sprožiti postopka proti članu organa odločanja ali drugega organa ali zadevni osebi, ki je bila osumljena, se notranja preiskava zaključi brez nadaljnjih ukrepov s sklepom generalnega direktorja Urada, ki o tem pisno obvesti člana organa odločanja ali drugega organa ali zadevno osebo.
Any request from a national police or judicial authority for waiver of applicable immunity from judicial proceedings of a participant in the decision-making and other bodies or a relevant person in possible cases of fraud, corruption and any other illegal activity affecting the financial interests of the Union shall be transmitted to the Director-General of the Office for his opinion.
Vsaka zahteva nacionalne policije ali nacionalnega sodnega organa za odvzem ustrezne imunitete člana organa odločanja ali drugega organa ali zadevne osebe v sodnih postopkih zaradi možnih primerov goljufije, korupcije ali drugih nezakonitih dejanj, ki škodijo finančnim interesom Unije, se pošlje v mnenje generalnemu direktorju Urada.
The Governing Council shall decide on any relevant waiver as far as participants in the decision-making and other bodies are concerned, and the Executive Board shall decide on any relevant waiver as far as relevant persons are concerned.
O tovrstnem odvzemu imunitete članov organov odločanja in drugih organov odloči Svet ECB, o tovrstnem odvzemu imunitete zadevnih oseb pa odloči Izvršilni odbor.
Decision ECB/2004/11 is repealed with effect from the twentieth day following the publication of this Decision in the Official Journal of the European Union.
Sklep ECB/2004/11 se razveljavi z učinkom od dvajsetega dne po objavi tega sklepa v Uradnem listu Evropske unije.
References to Decision ECB/2004/11 shall be construed as references to this Decision.
Sklicevanja na Sklep ECB/2004/11 se razlagajo kot sklicevanja na ta sklep.
Done at Frankfurt am Main, 4 March 2016.
V Frankfurtu na Majni, 4. marca 2016
OJ L 248, 18.9.2013, p. 1.
UL L 248, 18.9.2013, str. 1.
Code of Conduct for the members of the Governing Council (OJ C 123, 24.5.2002, p. 9).
Kodeks ravnanja za člane Sveta ECB (UL C 123, 24.5.2002, str. 9).
Supplementary Code of Ethics Criteria for the members of the Executive Board of the European Central Bank (in accordance with Article 11.3 of the Rules of Procedure of the European Central Bank) (OJ C 104, 23.4.2010, p. 8).
Dopolnilni kodeks meril poklicne etike za člane izvršilnega odbora Evropske centralne banke (v skladu s členom 11.3 Poslovnika Evropske centralne banke) (UL C 104, 23.4.2010, str. 8).
Code of Conduct for the Members of the Supervisory Board of the European Central Bank (OJ C 93, 20.3.2015, p. 2).
Kodeks ravnanja za člane Nadzornega odbora Evropske centralne banke (UL C 93, 20.3.2015, str. 2).
Commission of the European Communities v European Central Bank, C-11/00, ECLI:EU:C:2003:395.
Komisija Evropskih skupnosti proti Evropski centralni banki, C-11/00, ECLI:EU:C:2003:395.
Decision ECB/2004/11 of 3 June 2004 concerning the terms and conditions for European Anti-Fraud Office investigations of the European Central Bank, in relation to the prevention of fraud, corruption and any other illegal activities detrimental to the European Communities' financial interests and amending the Conditions of Employment for Staff of the European Central Bank (OJ L 230, 30.6.2004, p. 56).
Sklep ECB/2004/11 z dne 3. junija 2004 o pogojih za preiskave Evropskega urada za boj proti goljufijam v Evropski centralni banki v zvezi s preprečevanjem goljufij, korupcije in drugih nezakonitih dejanj, ki škodujejo finančnim interesom Evropskih skupnosti, in o spremembah Pogojev za zaposlitev v Evropski centralni banki (UL L 230, 30.6.2004, str. 56).
Regulation (EC) No 1073/1999 of the European Parliament and of the Council of 25 May 1999 concerning investigations conducted by the European Anti-Fraud Office (OLAF) (OJ L 136, 31.5.1999, p. 1).
Uredba (ES) št. 1073/1999 Evropskega parlamenta in Sveta z dne 25. maja 1999 o preiskavah, ki jih izvaja Evropski urad za boj proti goljufijam (OLAF) (UL L 136, 31.5.1999, str. 1).
Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63).
Uredba Sveta (EU) št. 1024/2013 z dne 15. oktobra 2013 o prenosu posebnih nalog, ki se nanašajo na politike bonitetnega nadzora kreditnih institucij, na Evropsko centralno banko (UL L 287, 29.10.2013, str. 63).
Decision ECB/2014/16 of 14 April 2014 concerning the establishment of an Administrative Board of Review and its Operating Rules (OJ L 175, 14.6.2014, p. 47).
Sklep ECB/2014/16 z dne 14. aprila 2014 o ustanovitvi Upravnega odbora za pregled in določitvi njegovih pravil za delovanje (UL L 175, 14.6.2014, str. 47).
Regulation (EU) No 673/2014 of the European Central Bank of 2 June 2014 concerning the establishment of a Mediation Panel and its Rules of Procedure (ECB/2014/26) (OJ L 179, 19.6.2014, p. 72).
Uredba (EU) št. 673/2014 Evropske centralne banke z dne 2. junija 2014 o ustanovitvi Odbora za mediacijo in sprejetju njegovega poslovnika (ECB/2014/26) (UL L 179, 19.6.2014, str. 72).
Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (OJ L 80, 18.3.2004, p. 33).
Sklep ECB/2004/2 z dne 19. februarja 2004 o sprejetju Poslovnika Evropske centralne banke (UL L 80, 18.3.2004, str. 33).
Decision (EU) 2015/433 of the European Central Bank of 17 December 2014 concerning the establishment of an Ethics Committee and its Rules of Procedure (ECB/2014/59) (OJ L 70, 14.3.2015, p. 58).
Sklep Evropske centralne banke (EU) 2015/433 z dne 17. decembra 2014 o ustanovitvi Odbora za poklicno etiko in sprejetju njegovega poslovnika (ECB/2014/59) (UL L 70, 14.3.2015, str. 58).
Available on the ECB's website at www.ecb.europa.eu
Dostopno na spletni strani ECB na naslovu www.ecb.europa.eu.
Federal Official Journal (Bundesgesetzblatt) No 45, 1998 of 27.10.1998 and No 12, 1999 of 6.5.1999.
Zvezni uradni list (Bundesgesetzblatt) št. 45, 1998 z dne 27.10.1998, in št. 12, 1999 z dne 6.5.1999.
Article 20 of Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data (OJ L 8, 12.1.2001, p. 1) applies to any restriction on information to be given to data subjects in the event of data processing.
Za vse omejitve dajanja informacij posameznikom, na katere se nanašajo osebni podatki, v primeru obdelave podatkov se uporablja člen 20 Uredbe (ES) št. 45/2001 Evropskega parlamenta in Sveta z dne 18. decembra 2000 o varstvu posameznikov pri obdelavi osebnih podatkov v institucijah in organih Skupnosti in o prostem pretoku takih podatkov (UL L 8, 12.1.2001, str. 1).
Decision (EU) 2016/457 of the European Central Bank
Sklep Evropske centralne banke (EU) 2016/457
of 16 March 2016
z dne 16. marca 2016
on the eligibility of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus (ECB/2016/5)
o primernosti tržnih dolžniških instrumentov, ki jih je izdala ali zanje v celoti jamči Republika Ciper (ECB/2016/5)
Having regard to Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (General Documentation Guideline) (ECB/2014/60) [1], and in particular Article 1(4), Titles I, II, IV, V, VI and VIII of Part Four, and Part Six thereof,
ob upoštevanju Smernice Evropske centralne banke (EU) 2015/510 z dne 19. decembra 2014 o izvajanju okvira denarne politike Eurosistema (Smernica o splošni dokumentaciji) (ECB/2014/60) [1] ter zlasti člena 1(4), naslovov I, II, IV, V, VI in VIII dela 4 in dela 6 Smernice,
Having regard to Guideline ECB/2014/31 of 9 July 2014 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral and amending Guideline ECB/2007/9 [2], and in particular Article 1(3) and Article 8 thereof,
ob upoštevanju Smernice ECB/2014/31 z dne 9. julija 2014 o dodatnih začasnih ukrepih v zvezi z Eurosistemovimi operacijami refinanciranja in primernostjo zavarovanja ter o spremembi Smernice ECB/2007/9 [2] ter zlasti člena 1(3) in člena 8 Smernice,
The standard criteria and minimum credit quality requirements determining the eligibility of marketable assets as collateral for the purposes of Eurosystem monetary policy operations are laid down in Guideline (EU) 2015/510 (ECB/2014/60) and in particular in Article 59 and in Part Four, Title II thereof.
Standardni kriteriji in minimalne zahteve glede kreditne kvalitete za ugotovitev primernosti tržnega finančnega premoženja kot zavarovanja za namene operacij denarne politike Eurosistema so določeni v Smernici (EU) 2015/510 (ECB/2014/60) ter zlasti v členu 59 in naslovu II dela 4 navedene smernice.
Pursuant to Article 1(4) of Guideline (EU) 2015/510 (ECB/2014/60), the Governing Council may, at any time, change the tools, instruments, requirements, criteria and procedures for the implementation of Eurosystem monetary policy operations.
V skladu s členom 1(4) Smernice (EU) 2015/510 (ECB/2014/60) lahko Svet ECB kadar koli spremeni orodja, instrumente, zahteve, kriterije in postopke za izvajanje operacij denarne politike Eurosistema.
Pursuant to Article 59(6) of Guideline (EU) 2015/510 (ECB/2014/60), the Eurosystem reserves the right to determine whether an issue, issuer, debtor or guarantor fulfils the Eurosystem's credit quality requirements on the basis of any information that the Eurosystem may consider relevant for ensuring adequate risk protection of the Eurosystem.
V skladu s členom 59(6) Smernice (EU) 2015/510 (ECB/2014/60) si Eurosistem pridržuje pravico, da na podlagi vseh informacij, ki so lahko po mnenju Eurosistema pomembne za zagotovitev ustrezne zaščite Eurosistema pred tveganjem, ugotovi, ali izdaja, izdajatelj, dolžnik ali garant izpolnjuje zahteve Eurosistema glede kreditne kvalitete.
By way of derogation from the Eurosystem's credit quality requirements for marketable assets, Article 8 of Guideline ECB/2014/31 provides that the Eurosystem's credit quality thresholds do not apply to marketable debt instruments issued or fully guaranteed by the central governments of euro area Member States under an European Union/International Monetary Fund programme, unless the Governing Council decides that the respective Member State does not comply with the conditionality of the financial support and/or the macroeconomic programme.
Z odstopanjem od zahtev Eurosistema glede kreditne kvalitete tržnega finančnega premoženja člen 8 Smernice ECB/2014/31 določa, da se Eurosistemovi pragovi kreditne kvalitete ne uporabljajo za tržne dolžniške instrumente, ki so jih izdale ali zanje v celoti jamčijo institucionalne enote centralnih ravni držav članic euroobmočja, kjer poteka program Evropske unije/Mednarodnega denarnega sklada, razen če Svet ECB odloči, da zadevna država članica ne spoštuje pogojev finančne podpore in/ali makroekonomskega programa.
As an exceptional measure, Decision ECB/2013/13 [3] temporarily suspended the Eurosystem's minimum requirements for credit quality thresholds applicable to marketable debt instruments issued or fully guaranteed by the Republic of Cyprus.
Na podlagi Sklepa ECB/2013/13 [3] se kot izjemen ukrep minimalne zahteve Eurosistema glede pragov kreditne kvalitete za tržne dolžniške instrumente, ki jih je izdala ali zanje v celoti jamči Republika Ciper, začasno niso uporabljale.
After the Republic of Cyprus completed a debt management exercise and there was confirmation that it was complying with the conditionality of the economic and financial adjustment programme it had entered into, Decision ECB/2013/22 [4] once again restored the eligibility of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus for Eurosystem monetary policy operations, subject to applying specific haircuts to such instruments, and provided that the Republic of Cyprus should be considered a euro area Member State compliant with a European Union/International Monetary Fund programme.
Ko je Republika Ciper zaključila operacijo upravljanja dolga in je bilo potrjeno, da spoštuje pogoje programa gospodarskega in finančnega prilagajanja, v katerega je vstopila, so s Sklepom ECB/2013/22 [4] tržni dolžniški instrumenti, ki jih je izdala ali zanje v celoti jamči Republika Ciper, ponovno postali primerni za operacije denarne politike Eurosistema, in sicer ob uporabi posebnih odbitkov za te instrumente in pod pogojem, da se Republika Ciper šteje za državo članico euroobmočja, ki spoštuje program Evropske unije/Mednarodnega denarnega sklada.
Currently, Article 1(3) of Guideline ECB/2014/31 provides that, for the purposes of Article 8 of that Guideline, the Republic of Cyprus should be considered a euro area Member State compliant with a European Union/International Monetary Fund programme.
Člen 1(3) Smernice ECB/2014/31 zdaj določa, da se za namene člena 8 navedene smernice Republika Ciper šteje za državo članico euroobmočja, ki spoštuje program Evropske unije/Mednarodnega denarnega sklada.
Moreover, Article 8(3) of that Guideline provides that marketable debt instruments issued or fully guaranteed by the Republic of Cyprus are subject to the specific haircuts set out in Annex II to that Guideline.
Poleg tega člen 8(3) navedene smernice določa, da se za tržne dolžniške instrumente, ki jih je izdala ali zanje v celoti jamči Republika Ciper, uporabljajo posebni odbitki, določeni v Prilogi II k navedeni smernici.
Pursuant to Article 1 of the Financial Assistance Facility Agreement between the European Stability Mechanism (ESM), the Republic of Cyprus and the Central Bank of Cyprus [6], the termination date of the ESM programme is 31 March 2016.
Svet ECB je zato odločil, da se morajo od 1. aprila 2016 za tržne dolžniške instrumente, ki jih je izdala ali zanje v celoti jamči Republika Ciper, uporabljati Eurosistemovi standardni kriteriji in pragovi kreditne kvalitete ter da se bodo za te dolžniške instrumente uporabljali standardni odbitki, določeni v Smernici Evropske centralne banke (EU) 2016/65 (ECB/2015/35) [7] –
Consequently, from 1 April 2016 the Republic of Cyprus can no longer be considered a Member State under a European Union/International Monetary Fund programme.
SPREJEL NASLEDNJI SKLEP:
From that date, the conditions for the temporary suspension of the Eurosystem's credit quality thresholds in respect of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus, as set out in Article 8(2) of Guideline ECB/2014/31, will no longer be fulfilled.
Člen 1
Therefore, the Governing Council has decided that from 1 April 2016 the Eurosystem's standard criteria and credit quality thresholds should apply in respect of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus and that such debt instruments will be subject to the standard haircuts set out in Guideline (EU) 2016/65 of the European Central Bank (ECB/2015/35) [7],
Primernost tržnih dolžniških instrumentov, ki jih je izdala ali zanje v celoti jamči Republika Ciper
HAS ADOPTED THIS DECISION:
Za namene člena 8 Smernice ECB/2014/31 se Republika Ciper ne šteje več za državo članico, kjer poteka program Evropske unije/Mednarodnega denarnega sklada.
Article 1
Za tržne dolžniške instrumente, ki jih je izdala ali zanje v celoti jamči Republika Ciper, se uporabljajo minimalne zahteve Eurosistema glede pragov kreditne kvalitete, kakor so določene v Smernici (EU) 2015/510 (ECB/2014/60) ter zlasti v členu 59 in naslovu II dela 4 navedene smernice.
Eligibility of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus
Za tržne dolžniške instrumente, ki jih je izdala ali zanje v celoti jamči Republika Ciper, se več ne uporabljajo posebni odbitki, določeni v Prilogi II k Smernici ECB/2014/31.
For the purposes of Article 8 of Guideline ECB/2014/31, the Republic of Cyprus shall no longer be considered a Member State under a European Union/International Monetary Fund programme.
V primeru razhajanj med tem sklepom in Smernico (EU) 2015/510 (ECB/2014/60) ali Smernico ECB/2014/31, kakor ju nacionalne centralne banke držav članic, katerih valuta je euro, izvedejo na nacionalni ravni, prevlada ta sklep.
The Eurosystem's minimum requirements for credit quality thresholds, as laid down in Guideline (EU) 2015/510 (ECB/2014/60) and in particular in Article 59 and in Part Four, Title II thereof, shall apply to marketable debt instruments issued or fully guaranteed by the Republic of Cyprus.
Člen 2
Marketable debt instruments issued or fully guaranteed by the Republic of Cyprus shall no longer be subject to the specific haircuts set out in Annex II to Guideline ECB/2014/31.
Začetek veljavnosti
In the event of any discrepancy between this Decision and any of Guideline (EU) 2015/510 (ECB/2014/60) and Guideline ECB/2014/31, as implemented at national level by the national central banks of Member States whose currency is the euro, this Decision shall prevail.
Ta sklep začne veljati 1. aprila 2016.
Article 2
V Frankfurtu na Majni, 16. marca 2016
This Decision shall enter into force on 1 April 2016.
UL L 91, 2.4.2015, str. 3.
Done at Frankfurt am Main, 16 March 2016.
UL L 240, 13.8.2014, str. 28.
The President of the ECB
Sklep ECB/2013/13 z dne 2. maja 2013 o začasnih ukrepih glede primernosti tržnih dolžniških instrumentov, ki jih je izdala ali zanje v celoti jamči Republika Ciper (UL L 133, 17.5.2013, str. 26).
OJ L 91, 2.4.2015, p. 3.
Sklep ECB/2013/22 z dne 5. julija 2013 o začasnih ukrepih glede primernosti tržnih dolžniških instrumentov, ki jih je izdala ali zanje v celoti jamči Republika Ciper (UL L 195, 18.7.2013, str. 27).
OJ L 240, 13.8.2014, p. 28.
Izjava Christine Lagarde, generalne direktorice Mednarodnega denarnega sklada, o Cipru, 7. marec 2016, sporočilo za javnost št. 16/94.
Decision ECB/2013/13 of 2 May 2013 on temporary measures relating to the eligibility of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus (OJ L 133, 17.5.2013, p. 26).
Dostopno na spletni strani EMS na naslovu www.esm.europa.eu.
Decision ECB/2013/22 of 5 July 2013 on temporary measures relating to the eligibility of marketable debt instruments issued or fully guaranteed by the Republic of Cyprus (OJ L 195, 18.7.2013, p. 27).
Smernica Evropske centralne banke (EU) 2016/65 z dne 18. novembra 2015 o odbitkih pri vrednotenju, ki se uporabljajo pri izvajanju okvira denarne politike Eurosistema (ECB/2015/35) (UL L 14, 21.1.2016, str. 30).
Statement by Christine Lagarde, Managing Director of the International Monetary Fund, on Cyprus, 7 March 2016, Press Release No 16/94.
Program Mednarodnega denarnega sklada za Republiko Ciper je bil na njeno zahtevo prekinjen z učinkom od 7. marca 2016 [5].
Available on the ESM's website at www.esm.europa.eu
V skladu s členom 1 sporazuma o finančni pomoči med Evropskim mehanizmom za stabilnost (EMS), Republiko Ciper in centralno banko Central Bank of Cyprus [6] je datum prenehanja programa EMS 31. marec 2016.
Guideline (EU) 2016/65 of the European Central Bank of 18 November 2015 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2015/35) (OJ L 14, 21.1.2016, p. 30).
Zato se Republika Ciper od 1. aprila 2016 ne more več šteti za državo članico, kjer poteka program Evropske unije/Mednarodnega denarnega sklada.
Decision (EU) 2016/702 of the European Central Bank
Sklep Evropske centralne banke (EU) 2016/702
of 18 April 2016
z dne 18. aprila 2016
amending Decision (EU) 2015/774 on a secondary markets public sector asset purchase programme (ECB/2016/8)
o spremembi Sklepa (EU) 2015/774 o programu nakupa vrednostnih papirjev javnega sektorja na sekundarnih trgih (ECB/2016/8)
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular the second subparagraph of Article 12.1 in conjunction with the first indent of Article 3.1, and Article 18.1, thereof,
ob upoštevanju Statuta Evropskega sistema centralnih bank in Evropske centralne banke ter zlasti drugega pododstavka člena 12.1 v povezavi s prvo alineo člena 3.1 in členom 18.1 Statuta,
Decision (EU) 2015/774 of the European Central Bank (ECB/2015/10) [1] established a secondary markets public sector asset purchase programme (hereinafter the ‘PSPP’), which expanded the Eurosystem's existing asset purchase programmes to include public sector securities.
S Sklepom Evropske centralne banke (EU) 2015/774 (ECB/2015/10) [1] je bil vzpostavljen program nakupa vrednostnih papirjev javnega sektorja na sekundarnih trgih, s katerim so se tedanji Eurosistemovi programi nakupa vrednostnih papirjev razširili na vrednostne papirje javnega sektorja.
Alongside the third covered bond purchase programme, the asset-backed securities purchase programme and the forthcoming corporate sector purchase programme, the PSPP is part of the expanded asset purchase programme (APP).
Program nakupa vrednostnih papirjev javnega sektorja na sekundarnih trgih je poleg tretjega programa nakupa kritih obveznic, programa nakupa listinjenih vrednostnih papirjev in prihodnjega programa nakupa vrednostnih papirjev podjetniškega sektorja del razširjenega programa nakupa vrednostnih papirjev.
The APP aims to enhance the transmission of monetary policy, facilitate the provision of credit to the euro area economy, ease borrowing conditions for households and firms and contribute to returning inflation rates to levels that are below but close to 2 % over the medium term, consistent with the European Central Bank's primary objective of maintaining price stability.
Cilj razširjenega programa nakupa vrednostnih papirjev je okrepiti transmisijo denarne politike, olajšati kreditiranje gospodarstva v euroobmočju, omiliti posojilne pogoje za gospodinjstva in podjetja ter prispevati k vrnitvi stopnje inflacije na raven, ki je v srednjeročnem obdobju pod 2 %, vendar blizu te vrednosti, kar je skladno s poglavitnim ciljem Evropske centralne banke, da ohranja stabilnost cen.
In line with the Governing Council's mandate to ensure price stability, certain features of the PSPP should be modified in order to ensure a sustained adjustment in the path of inflation towards levels that are below, but close to 2 %, over the medium term.
V skladu s pooblastili Sveta ECB za zagotavljanje stabilnosti cen bi bilo treba spremeniti nekatere značilnosti programa nakupa vrednostnih papirjev javnega sektorja na sekundarnih trgih, da se zagotovi trajna prilagoditev gibanja inflacije na raven, ki je v srednjeročnem obdobju pod 2 %, vendar blizu te vrednosti.