natgillin/translations-raw huggingface dataset:
Price stability eliminates the real economic costs entailed when inflation exacerbates the distortionary impact of tax and social security systems .
Če so cene stabilne , ni realnih ekonomskih stroškov , ki izhajajo iz dejstva , da inflacija še poslabšuje izkrivljajoč vpliv davčne ali socialne ureditve .
Maintaining price stability prevents the considerable and arbitrary redistribution of wealth and income that arises in both inflationary and deflationary environments .
Ohranjanje cenovne stabilnosti preprečuje obsežno in samovoljno prerazporejanje bogastva in dohodka , ki se pojavi tako v inflacijskem kot tudi v deflacijskem okolju .
An environment of stable prices therefore helps to maintain social cohesion and stability . Several cases in the twentieth century have shown that high rates of inflation or deflation tend to create social and political instability .
Okolje cenovne stabilnosti zato ugodno vpliva na ohranjanje socialne povezanosti in stabilnosti . Več primerov iz 20 .
Source : ECB ( 2004 ) , The monetary policy of the ECB , p. 42 . Although the EC Treaty clearly establishes maintaining price stability as the primary objective of the ECB , it does not define what « price stability » actually means .
stoletja kaže , da visoke stopnje inflacije ali deflacije velikokrat vodijo v družbeno in politično nestabilnost . Vir : Odlomek iz ECB ( 2004 ) , The monetary policy of the ECB , str .
2.2.2 The support of general economic policies By fulfilling its clearly defined mandate to maintain price stability in the euro area , the ECB supports the general economic policies in the Community « with a view to contributing to the achievement of the objectives of the Community as laid down in Article 2 » . Indeed , as shown above , the best contribution which the ECB can make to promoting , among other things , « sustainable and noninflationary growth » and a « high level of employment » , as referred to in Article 2 of the EC Treaty , is to pursue a monetary policy aimed at price stability .
Stabilnostno usmerjena denarna politika ustvarja stabilno okolje , v katerem se lahko druge politike izvajajo čim bolj učinkovito .
In this way , a stability-oriented monetary policy creates a stable environment for other policies to be carried out as effectively as possible . By contrast , monetary policy has very limited scope to exert a lasting influence on real variables through other channels ;
Nasprotno pa ima denarna politika zelo omejene možnosti , da bi prek drugih kanalov trajno vplivala na realne gospodarske spremenljivke ;
in the long run , real income is essentially determined by supply-side factors ( e.g. technology , population growth , the flexibility of markets and the efficiency of the institutional framework of the economy ) .
na dolgi rok realni dohodek določajo dejavniki na strani ponudbe ( na primer tehnologija , rast prebivalstva , prilagodljivost trgov in učinkovitost institucionalnega okvira gospodarstva ) .
It is therefore the task of fiscal and structural policies -- but also of those involved in the wage-bargaining process -- to enhance the growth potential of the economy .
Zato je naloga fiskalnih in strukturnih politik -- pa tudi sodelujočih v plačnih pogajanjih -- da krepijo sposobnost gospodarstva za rast .
Accordingly , the mandate to support the general economic policies in the euro area does not give the ECB direct responsibility for any additional objectives other than price stability .
V skladu s tem naloga o podpiranju splošnih ekonomskih politik pomeni , da ECB nima neposredne odgovornosti za noben drug cilj kot za cenovno stabilnost .
Instead , the Treaty requires the ECB to take account of the other Community objectives in pursuing its primary objective .
Pogodba od ECB zahteva , da pri zasledovanju svojega temeljnega cilja upošteva tudi druge cilje Skupnosti .
In particular , given that monetary policy can affect real activity in the shorter term , the ECB typically should avoid generating excessive fluctuations in output and employment on condition that this does not jeopardise its pursuit of its primary objective .
Ker lahko denarna politika na kratki rok vpliva na realno gospodarstvo , bi se morala ECB zlasti izogibati povzročanju čezmernih nihanj v gospodarski rasti in zaposlenosti , če to ne ogroža njenega temeljnega cilja .
Likewise , the mandate to support the general economic policies in the Community does not require the ECB to coordinate its policy ex ante with the economic policies in the Community .
Podpiranje splošnih ekonomskih politik prav tako ne pomeni , da mora ECB vnaprej usklajevati svoje politike z ekonomskimi politikami v Skupnosti .
It is , however , part of the rationale behind the dialogue between the ECB and the economic policy-makers at the Community level ( see Section 4.3 ) .
Vseeno pa je to eden od temeljev za dialog med ECB in oblikovalci politik na ravni Skupnosti ( glej razdelek 4.3 ) .
2 . 3 T h e p r i n c i p l e o f a n o p e n m a r ke t e c o n o my The EC Treaty also binds the Eurosystem to the principle of an open market economy with free competition .
2.2.3 Naãelo odprtega trÏnega gospodarstva Pogodba ES zavezuje Eurosistem , da spoštuje načelo odprtega tržnega gospodarstva s svobodno konkurenco .
The Eurosystem complies with this principle in several ways .
Eurosistem to počne na različne načine .
By maintaining price stability , the ECB contributes to the proper operation of the price mechanism , which is an essential feature of a wellfunctioning market economy and which favours an efficient allocation of resources .
ECB z ohranjanjem cenovne stabilnosti prispeva k nemotenemu delovanju cenovnega mehanizma , ki je bistven element dobro delujočega tržnega gospodarstva in ki podpira učinkovito razporejanje virov .
The monetary policy instruments of the Eurosystem are based on market mechanisms , and credit institutions are given equal access to the Eurosystem facilities .
Instrumenti denarne politike , ki jih uporablja Eurosistem , temeljijo na tržnih mehanizmih , kreditne institucije pa imajo enakopraven dostop do infrastrukture Eurosistema .
3 A S S I G N M E N T O F TA S K S B Y T H E T R E AT Y The Treaty entrusts the ESCB with the task of performing the central bank function for the Community .
2.3 DODELITEV NALOG S POGODBO S Pogodbo je ESCB dobil nalogo , da za Skupnost opravlja centralnobančne naloge .
Given the fact that some EU Member States do not participate in EMU , the terms « ESCB » and « Community » are to be read as « Eurosystem » and « euro area » respectively .
Ker nekatere države članice EU ne sodelujejo v ekonomski in monetarni uniji , pomenita izraza „ESCB » in „Skupnost » pravzaprav „Eurosistem » in „euroobmočje » .
1 B a s i c t a s k s o f t h e E u ro s y s t e m Article 105 ( 2 ) of the EC Treaty and Article 3.1 of the Statute of the ESCB confer upon the Eurosystem the sole competence for the following basic tasks : -* to define and implement the monetary policy of the euro area ;
2.3.1 Temeljne naloge Eurosistema Člen 105 ( 2 ) Pogodbe ES in člen 3.1 Statuta ESCB dodeljujeta Eurosistemu izključno pristojnost za naslednje temeljne naloge : -* opredeliti in izvajati denarno politiko euroobmočja ;
-* to conduct foreign exchange operations ;
-* opravljati devizne posle ;
-* to hold and manage the official foreign reserves of the euro area Member States ;
-* imeti in upravljati uradne devizne rezerve držav članic ;
-* to promote the smooth operation of payment systems .
-* podpirati nemoteno delovanje plačilnih sistemov .
Other related tasks include : -* the issue of euro banknotes as the only such notes to have the status of legal tender in the euro area ( Article 106 ( 1 ) of the EC Treaty and Article 16 of the Statute ) ;
Druge povezane naloge so : -* izdajanje eurobankovcev kot edinih bankovcev , ki imajo status zakonitega plačilnega sredstva v euroobmočju ( člen 106 ( 1 ) Pogodbe ES in člen 16 Statuta ) ;
-* the collection of the statistical information necessary for the tasks of the Eurosystem ( Article 5 of the Statute ) .
-* zbiranje statističnih podatkov , potrebnih za izvajanje nalog Eurosistema ( člen 5 Statuta ) .
The Eurosystem 's capacity to formulate and implement the monetary policy of the euro area is ensured by its full control over base money .
S popolno kontrolo , ki jo ima Eurosistem nad primarnim denarjem , je zagotovljena sposobnost oblikovanja in izvajanja denarne politike euroobmočja .
Under Article 106 of the Treaty , the ECB and the NCBs are the only institutions that are entitled to actually issue legal tender banknotes in the euro area ;
Po členu 106 Pogodbe so samo ECB in nacionalne centralne banke upravičene izdajati bankovce , ki so zakonito plačilno sredstvo v euroobmočju ;
the euro area Member States » right to mint coins is restricted to low denominations and the volume of coins issued is subject to approval by the ECB .
pravica držav članic do kovanja kovancev je omejena na kovance manjših vrednosti , pri čemer mora obseg izdaje odobriti ECB .
Given the dependency of the banking system on base money , the Eurosystem is thus in a position to exert a dominant influence on money market conditions and money market interest rates ( see Section 3.1 ) .
Glede na odvisnost bančnega sistema od primarnega denarja ima Eurosistem torej možnost odločilno vplivati na razmere na denarnem trgu in njegove obrestne mere ( glej razdelek 3.1 ) .
The conduct of foreign exchange operations is an important corollary function of the conduct of monetary policy .
Pomembna vloga v okviru vodenja denarne politike pripada opravljanju deviznih poslov .
Assigning this task to the Eurosystem not only exploits the operational capabilities of central banks but also ensures that foreign exchange operations remain consistent with the aims of monetary policy .
Z dodelitvijo te naloge Eurosistemu so bile izkoriščene operativne zmogljivosti centralnih bank in zagotovljena skladnost deviznih poslov s cilji denarne politike .
Foreign exchange operations influence exchange rates and domestic liquidity conditions , which are relevant variables for monetary policy . They have to be compatible with the framework which the Treaty has established for the exchange rate policy of the euro area .
Devizni posli vplivajo na devizne tečaje in domače likvidnostne razmere , ki sta pomembni spremenljivki denarne politike , zato morajo biti skladni z okvirom tečajne politike euroobmočja , kot je določen v Pogodbi .
In this field , the ECB shares responsibility with the EU Council as the ultimate decision-maker ( see Section 3.2.1 ) .
Na tem področju si ECB in Svet EU kot končna nosilca odločanja delita odgovornost ( glej razdelek 3.2.1 ) .
The task of holding and managing the official foreign reserves of the euro area is the logical complement to the Eurosystem 's function of conducting foreign exchange operations .
Naloga opravljanja deviznih poslov se logično dopolnjuje še z eno nalogo Eurosistema , namreč z imetjem in upravljanjem uradnih deviznih rezerv euroobmočja .
48 of the Statute to control the use of NCBs » foreign exchange holdings as well as Member States » residual working balances in foreign currencies ( see Section 3.2.2 ) .
Spekter nalog zaokroža pooblastilo iz člena 31 Statuta , po katerem ECB nadzira , kako nacionalne centralne banke uporabljajo devizne rezerve in operativne devizne rezerve držav članic ( glej razdelek 3.2.2 ) .
Assigning to the Eurosystem the task of promoting the smooth operation of payment systems ( see Section 3.3 ) acknowledges the importance of sound and efficient systems not only for the conduct of monetary policy but also for the economy as a whole .
Dejstvo , da je bila Eurosistemu dodeljena naloga spodbujanja nemotenega delovanja plačilnih sistemov ( glej razdelek 3.3 ) , kaže , kako pomembni so varni in učinkoviti sistemi , ne le za vodenje denarne politike , pač pa za gospodarstvo kot celoto .
For the performance of these Eurosystem tasks , the Statute of the ESCB assigns to the ECB and the euro area NCBs a wide range of functional and operational competences under Articles 17 to 24 of the Statute .
Členi 17 do 24 Statuta dodeljujejo ECB in nacionalnim centralnim bankam euroobmočja široko paleto funkcionalnih in operativnih pristojnosti za opravljanje teh nalog Eurosistema .
In addition , the ECB : -* enjoys regulatory powers and the right to impose enforceable sanctions in case of non-compliance with ECB Regulations and Decisions under Article 110 of the Treaty and Article 34 of the Statute ( see Section 2.5.3 ) ;
Poleg tega : -* ima ECB po členu 110 Pogodbe in členu 34 Statuta ( glej razdelek 2.5.3 ) normativna pooblastila in pravico izrekanja sankcij v primeru neskladnosti z določbami iz njenih uredb in odločb ;
-* monitors compliance by the NCBs with the prohibition of monetary financing and privileged access to financial institutions for the public sector ( see Section 2.5.5 ) .
-* ECB spremlja skladnost nacionalnih centralnih bank s prepovedjo denarnega financiranja javnega sektorja in njegovega privilegiranega dostopa do finančnih institucij ( glej razdelek 2.5.5 ) .
2.3.2 Other tasks In addition to its core functions , the Eurosystem has to contribute to « the smooth conduct of policies pursued by the competent authorities relating to the prudential supervision of credit institutions and the stability of the financial system » ( Article 105 ( 5 ) of the EC Treaty ) .
2.3.2 Druge naloge Poleg svojih temeljnih nalog mora Eurosistem prispevati tudi k „nemotenemu vodenju politik pristojnih oblasti glede bonitetnega nadzora kreditnih institucij in stabilnosti finančnega sistema » ( člen 105 ( 5 ) Pogodbe ES ) . Ker je ta naloga predvsem v pristojnosti držav članic , je vloga Eurosistema omejena le na prispevanje .
As these functions fall primarily within the responsibility of the Member States , the Eurosystem 's role is limited to making a contribution only .
Čeprav Pogodba ne opredeljuje natančno , kolikšen naj bo prispevek Eurosistema , s tem priznava legitimni interes ECB in nacionalnih centralnih
Although the scope of the Eurosystem 's contribution is not specified precisely , the Treaty thereby acknowledges the legitimate interest of the ECB and the NCBs to be involved in Community arrangements for prudential supervision and financial stability ( see Section 3.7 ) .
48 bank , da sodelujejo pri ureditvi Skupnosti glede bonitetnega nadzora in finančne stabilnosti ( glej razdelek 3.7 ) .
Another major assignment is the ECB 's task of advising the appropriate Community institutions and bodies and national authorities in its fields of competence ( Article 105 ( 4 ) of the EC Treaty and Article 4 of the Statute ) and its right to initiate secondary Community legislation in the cases specified in the Treaty ( see Section 2.5.4 ) .
Še ena pomembna naloga ECB je svetovanje ustreznim institucijam ali organom Skupnosti in nacionalnim organom na področjih njene pristojnosti ( člen 105 ( 4 ) Pogodbe ES in člen 4 Statuta ) ter njena pravica , da začne postopek za sprejetje sekundarne zakonodaje Skupnosti v primerih , določenih v Pogodbi ( glej razdelek 2.5.4 ) .
Finally , under Article 123 ( 2 ) of the Treaty and Article 44 of the Statute , the ECB must also carry out those functions of the EMI which still need to be performed because not all EU Member States have yet adopted the euro ( see Section 2.5.6 ) .
In nazadnje po členu 123 ( 2 ) Pogodbe in členu 44 Statuta ECB prevzame tudi tiste naloge EMI , ki se morajo še izvajati , ker vse države članice EU še niso uvedle eura ( glej razdelek 2.5.6 ) .
4 C E N T R A L I S E D D E C I S I O N - M A K I N G A N D O P E R AT I O N A L D E C E N T R A L I S AT I O N Under Article 8 of the Statute of the ESCB , the ECB 's decision-making bodies govern the Eurosystem . Within their respective responsibilities , these bodies take
2.4 CENTRALIZIRANO ODLOâANJE IN OPERATIVNA DECENTRALIZACIJA Po členu 8 Statuta ESCB Eurosistem vodijo organi odločanja ECB .
49 all the necessary decisions to enable the ESCB and Eurosystem to carry out their respective tasks .
Ti v okviru svojih pristojnosti sprejmejo vse potrebne odločitve , da ESCB in Eurosistemu omogočijo opravljanje njunih nalog .
Centralised decision-making through the ECB 's decision-making bodies is not limited to the formulation of policies , such as changes in the key ECB interest rates . It extends to the implementation of policies through the ECB and the NCBs .
Centralizirano odločanje prek organov odločanja ECB ni omejeno le na oblikovanje politik , kot je na primer spreminjanje ključnih obrestnih mer ECB , pač pa zajema tudi izvajanje politik prek ECB in nacionalnih centralnih bank .
Except for the statutory tasks that have been exclusively assigned to the ECB in its capacity as the core and leader of the Eurosystem ( see Section 2.5 ) , the Statute of the ESCB does not indicate to what extent ECB policies are to be implemented through activities of the ECB or the NCBs .
Razen zakonsko določenih nalog , ki so bile naložene izključno Evropski centralni banki v vlogi vodje Eurosistema ( glej razdelek 2.5 ) , Statut ESCB ne navaja , v kolikšni meri se morajo politike ECB izvajati prek dejavnosti ECB ali nacionalnih centralnih bank .
For the bulk of the Eurosystem 's activities , the actual intra-system division of labour has been guided by the principle of decentralisation , i.e. « the ECB shall have recourse to the NCBs , to the extent deemed possible and appropriate , to carry out operations which form part of the tasks of the Eurosystem » ( Article 12.1 of the Statute of the ESCB ) .
Za večino dejavnosti temelji dejanska delitev dela znotraj Eurosistema na načelu decentralizacije , kar pomeni , da „kolikor je možno in ustrezno , naloži ECB nacionalnim centralnim bankam opravljanje poslov , ki so sestavni del Eurosistema » ( člen 12.1 Statuta ESCB ) .
The principle of decentralisation should not be confused with the « principle of subsidiarity » , as set out in Article 5 of the EC Treaty .
Načela decentralizacije ne smemo zamenjevati z „načelom subsidiarnosti » , kot je opredeljeno v členu 5 Pogodbe ES .
Subsidiarity means that the need for centralisation must be proven conclusively before action at the Community level can be taken .
Subsidiarnost pomeni , da mora biti potreba po centralizaciji neizpodbitno dokazana , preden se lahko ukrepa na ravni Skupnosti .
In Stage Three of EMU , however , monetary policy has been made an area in which action is taken exclusively at the Community level .
V tretji fazi ekonomske in monetarne unije pa je denarna politika področje , na katerem se ukrepi sprejemajo izključno na ravni Skupnosti .
Therefore centralisation does not have to be justified ; instead , it is for the ECB to evaluate the extent to which decentralisation is possible and appropriate .
Razlogov za centralizacijo torej ni treba utemeljevati , pač pa mora ECB oceniti , v kolikšni meri je decentralizacija možna in primerna .
The operational set-up of the Eurosystem takes full account of the principle of decentralisation .
Pri operativni sestavi Eurosistema je v celoti upoštevano načelo decentralizacije .
As shown in Chapter 3 , the NCBs perform almost all operational tasks of the Eurosystem .
Kot je prikazano v poglavju 3 , nacionalne centralne banke izvajajo skoraj vse operativne naloge Eurosistema .
In particular , the NCBs conduct the monetary policy operations and , as agents of the ECB , most external operations , provide payment and securities settlement facilities , and ensure the procurement , issue and postissue handling of euro banknotes .
Opravljajo zlasti operacije denarne politike in kot posrednice za ECB tudi večino poslovanja s tujino , dajejo na razpolago plačilne sisteme in sisteme za poravnavo poslov z vrednostnimi papirji ter skrbijo za oskrbo z eurobankovci , njihovo izdajo in poznejše ravnanje z njimi .
They also collect statistics for the ECB , collaborate with the ECB on translation and the production of publications and contribute to economic analysis and research which is conducted within the framework of organised networks .
Prav tako zbirajo statistične podatke za ECB , sodelujejo z ECB pri prevajanju in pripravljanju publikacij ter sodelujejo pri ekonomskih analizah in raziskavah , ki se opravljajo v okviru organiziranih mrež .
By contrast , as also shown in Chapter 3 , the ECB itself carries out few operations .
ECB sama izvaja le malo operacij , kot je prikazano v poglavju 3 .
The ECB manages its own funds , oversees cross-border large-value payment and clearing systems and acts as a settlement agent for some of them .
ECB upravlja lastna sredstva , nadzira sisteme čezmejnih plačil velikih vrednosti in klirinške sisteme ter za nekatere od teh sistemov deluje kot poravnalni agent .
Other operational activities of the ECB include external operations , although in practice the bulk of them are executed by the NCBs .
Druge operativne dejavnosti ECB vključujejo še poslovanje s tujino , čeprav jih v praksi večino opravijo nacionalne centralne banke .
However , this limited scope of the ECB 's own operational activities does not mean that it is largely disconnected from the operational side of the Eurosystem .
Takšen omejen obseg operativnih dejavnosti ECB pa ne pomeni , da je bolj ali manj nepovezana z operativno platjo Eurosistema .
Instead , the ECB ensures in various ways that the operations of the Eurosystem are performed consistently by the euro area NCBs ( see Section 2.5.2 ) .
Nasprotno , ECB na različne načine zagotavlja , da nacionalne centralne banke euroobmočja dosledno opravljajo posle Eurosistema ( glej razdelek 2.5.2 ) .
The high degree of operational decentralisation within the Eurosystem is also mirrored in the distribution of staff among the ECB and the NCBs .
Visoka stopnja operativne decentralizacije v Eurosistemu se odraža tudi v porazdelitvi zaposlenih med ECB in nacionalnimi centralnimi bankami .
At the end of 2005 , the 12 euro area NCBs had a combined total of almost 49,000 employees ; the ECB had some 1,300 staff members .
Tako je konec leta 2005 dvanajst nacionalnih centralnih bank euroobmočja skupaj zaposlovalo 49.000 oseb , medtem ko je imela ECB kakšnih 1.300 zaposlenih .
50 of NCB staff are estimated to be involved in non-Eurosystem activities3 , the ECB 's share in the total central bank staff working for the Eurosystem does not exceed 5 %.
Četudi upoštevamo , da približno 50 % zaposlenih v nacionalnih centralnih bankah opravlja dejavnosti , ki niso neposredno povezane z Eurosistemom3 , delež zaposlenih v ECB v skupnem številu centralnobančnega osebja , ki dela za Eurosistem , še vedno ne presega 5 %.
5 T H E E C B « S RO L E I N T H E E U RO S Y S T E M Under Article 9.2 of the Statute of the ESCB , the ECB ensures that the tasks of the Eurosystem are carried out either by its own activities or through the NCBs .
2.5 VLOGA ECB V EUROSISTEMU ECB po členu 9.2 Statuta ESCB zagotavlja , da se naloge Eurosistema izvajajo z njeno lastno dejavnostjo ali prek nacionalnih centralnih bank .
In line with this statutory role , the ECB exercises several specific functions . In particular , it : -* is the decision-making centre of the ESCB and the Eurosystem ;
ECB v skladu s svojo zakonsko določeno vlogo izvaja več posebnih nalog : -* je središče odločanja ESCB in Eurosistema ;
-* ensures consistent implementation of ECB policies ;
-* zagotavlja dosledno izvajanje politik ECB ;
-* exercises regulatory powers and the right to impose sanctions ;
-* uresničuje svoja normativna pooblastila in pravico izrekanja sankcij ;
-* initiates Community legislation and advises the Community institutions and EU Member States on draft legislation ;
-* začenja postopke za sprejetje sekundarne zakonodaje Skupnosti ter svetuje institucijam Skupnosti in državam članicam v zvezi z osnutki zakonodaje ;
-* monitors compliance with the provisions of Articles 101 and 102 of the Treaty ;
-* spremlja skladnost s členoma 101 in 102 Pogodbe ;
-* carries out those tasks of the former EMI which still need to be performed in Stage Three of EMU because not all EU countries participate in EMU .
-* izvaja tiste naloge bivšega EMI , ki jih je še treba izvesti v tretji fazi ekonomske in monetarne unije zato , ker vse države EU ne sodelujejo v ekonomski in monetarni uniji .