natgillin/translations-raw huggingface dataset:
- Procurement rules 158 - Recommendations 70 - Regulations 68 - Regulatory powers 68 - Role in the Eurosystem 51 - Scrutiny of financial management and integrity 140 - Seat 162 - Staff 159 - Statistics 108 European Commission 33 , 34 , 38 , 43 , 52 , 70 , 91 , 109 , 136 , 210 European Community ( EC ) 28 , 210 European Council 31 , 210 European Court of Justice ( ECJ ) 43 , 123 , 139 , 210 European Economic Community ( EEC ) 15 European Monetary Cooperation Fund ( EMCF ) 18 , 211 European Monetary Institute ( EMI ) 22 , 25 , 211 European Monetary System ( EMS ) 19 , 211 European Parliament 130 , 132 , 211 - Committee on Economic and Monetary Affairs 132 European System of Central Banks ( ESCB ) - Committees 65 , 208 - Common operational systems 66 , 206 - Composition 41 , 211 - Governance 51 , 211 - Objectives 45 - Social Dialogue 161 - Tasks 48 European Union ( EU ) 27 , 211 Eurostat 109 , 136 , 212 Eurosystem - Activities 77 - Composition 42 , 212 - Governance 51 , 212 - Intra-Eurosystem financial relationships 114 - Intra-Eurosystem reporting 67 - Staff macroeconomic projections 84 , 212 - Term 42
- Vloga v Eurosistemu 50 - Zaposleni 153 Evropska gospodarska skupnost ( EGS ) 15 Evropska komisija 32 , 37 , 36 , 43 , 51 , 69 , 89 , 107 , 130 , 197 Evropska skupnost ( ES ) 28 , 197 Evropska unija ( EU ) 27 , 198 Evropski monetarni inštitut ( EMI ) 22 , 24 , 198 Evropski monetarni sistem ( EMS ) 18 , 198 Evropski odbor za bančništvo ( EBC ) 109 , 198 Evropski parlament 125 , 127 , 198 - Odbor za ekonomske in monetarne zadeve 127 Evropski sistem centralnih bank ( ESCB ) - Cilji 45 - Naloge 47 - Odbori 63 , 201 - Sestava 41 , 199 - Skupni operativni sistemi 65 , 204 - Socialni dialog 155 - Upravljanje 51 , 199 Evropski sklad za monetarno sodelovanje 18 , 199 Evropski svet 31 , 199 Finančna stabilnost 108 Forum za finančno stabilnost 144 G10 144 G20 144 G7 143 Harmonizirani indeks cen življenjskih potrebščin ( HICP ) 78 , 199 Hitra avkcija 86 , 199 Intervencije na deviznih trgih 88 Izvršilni odbor ECB glej Evropska centralna banka ( ECB ) Kölnski proces 31 , 132 Konvergenčni kriteriji 33 , 199 Korespondenčni centralnobančni model ( CCBM ) 98 , 200
Excessive deficit procedure 32 , 212 Exchange rate mechanism ( ERM ) 19 , 208 Executive Board of the ECB see European Central Bank ( ECB ) Financial stability 111 Financial Stability Forum ( FSF ) 151 Fine-tuning operation 88 , 212 Foreign exchange swap 86 , 212 Foreign reserves 94 G10 150 G20 150 G7 149 General Council of the ECB see European Central Bank ( ECB ) Governing Council of the ECB see European Central Bank ( ECB ) Harmonised Index of Consumer Prices ( HICP ) 80 , 213 Interlinking mechanism 99 , 213 International Monetary Fund ( IMF ) 146 , 213 Intervention on foreign exchange markets 91 Lisbon Strategy 32 Longer-term refinancing operation 87 , 213 Luxembourg process 32 , 138 Macroeconomic Dialogue 32 , 138 Main refinancing operation 87 , 213 Maintenance period 90 , 213 Marginal lending facility 88 , 213 Marjolin Memorandum 16 Monetary Committee 17 , 21 , 214 Monetary financial institutions ( MFIs ) 67 , 214 Monetary income 119 , 214 Monetary policy strategy 80 , 214 National central banks ( NCBs ) 44 , 47 , 49 , 50 , 63 , 72 , 96 , 100 , 101 , 110 , 113 , 118
Lizbonska strategija 31 Luksemburški proces 31 , 132 Makroekonomski dialog 31 , 132 Marjolinov memorandum 17 Mednarodni denarni sklad ( MDS ) 139 , 200 Mehanizem deviznih tečajev ( ERM ) 19 , 196 Monetarne finančne institucije ( MFI ) 65 , 200 Monetarni odbor 17 , 21 , 200 Nacionalne centralne banke 44 , 48 , 49 , 61 , 70 , 93 , 97 , 98 , 107 , 110 , 113 Neodvisnost centralne banke 36 , 119 , 200 Obdobje izpolnjevanja obveznih rezerv 87 , 200 Obvezne rezerve 87 , 201 Odbor evropskih zakonodajalcev za vrednostne papirje 99 , 201 Odbor guvernerjev 17 , 21 , 201 Odbor za ekonomsko politiko 132 , 201 Odbor za monetarno , finančno in plačilnobilančno statistiko ( CMFB ) 107 , 131 , 201 Odprta ponudba 86 , 201 Odprta ponudba mejnega depozita 86 , 201 Odprta ponudba mejnega posojila 86 , 201 OLAF ( Evropski urad za boj proti goljufijam ) 134 , 199 Operacija dolgoročnejšega refinanciranja 85 , 202 Operacija finega uravnavanja 85 , 202 Operacija glavnega refinanciranja 85 , 202 Operacija odprtega trga 85 , 202 Organizacija za gospodarsko sodelovanje in razvoj ( OECD ) 142 , 202 Osnova za obvezne rezerve 87 , 202 Pakt za stabilnost in rast 24 , 32 , 202 Plačilni in klirinški sistemi 98 , 202
OLAF ( European Anti-Fraud Office ) 139 , 214 Open market operation 87 , 212 , 216 Organisation for Economic Co-operation and Development ( OECD ) 148 , 214 Payment and clearing systems 98 , 215 Price stability 45 , 80 , 215 Prudential supervision 111 Quick tender 88 , 215 Reference value for monetary growth 85 , 215 Repurchase agreement 215 Reserve base 90 , 215 Reserve ratio 90 , 215 Reserve requirement 90 , 216 Reverse transaction 88 , 216 RTGS ( Real-time gross settlement system ) 99 , 215
Pogodba 21 , 28 , 69 , 203 Pogodba EU glej Pogodba Poravnalno tveganje 95 , 203 Postopek v zvezi s čezmernim primanjkljajem 31 , 203 Povezovalni mehanizem 96 , 203 Povratna transakcija 86 , 203 Programi stabilnosti 32 , 203 Računsko sodišče 43 , 135 , 199 Razširjeni svet ECB glej Evropska centralna banka ( ECB ) Referenčna vrednost za rast denarnega agregata 83 , 204 Repo pogodba 204 Sistem BPRČ ( bruto poravnava v realnem času ) 96 , 204 Sistem poravnave vrednostnih papirjev 95 , 99 , 204 Sodišče Evropskih skupnosti 43 , 119 , 133 , 204 Stabilnost cen 45 , 78 , 204 Standardna avkcija 85 , 204
Securities settlement system ( SSS ) 98 , 101 , 216 Settlement risk 98 , 216 Single European Act 19 Stability and Growth Pact 24 , 33 , 216 Stability programmes 33 , 216 Standard tender 87 , 216 Standing facility 88 , 216 Statute of the European System of Central Banks and of the European Central Bank ( Statute of the ESCB ) 21 , 72 , 217 TARGET ( Trans-European Automated Real-time Gross settlement Express Transfer system ) 99 , 217 TARGET2 100 , 215 Treaty 21 , 28 , 70 , 217 Werner Plan 20
Statut Evropskega sistema centralnih bank in Evropske centralne banke ( Statut ESCB ) 21 , 71 , 204 Stopnja obveznih rezerv 87 , 215 Strategija denarne politike 78 , 205 Svet ECB glej Evropska centralna banka ( ECB ) Svet EU 30 , 32 , 37 , 48 , 52 , 69 , 89 , 128 , 205 Širše smernice ekonomskih politik 30 , 31 , 205 TARGET ( transevropski sistem bruto poravnave v realnem času ) 96 , 204 TARGET2 97 , 205 Ustava za Evropo 29 , 71 , 206 Valutna zamenjava 84 , 206 Wernerjev načrt 20 Zavarovanje 85 , 206
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EDITORIAL 13 December 2007 - Monthly Bulletin
13 . december 2007 - Mesečni bilten
At its meeting on 6 December 2007 , the Governing Council of the ECB decided , on the basis of its regular economic and monetary analyses , to leave the key ECB interest rates unchanged .
Svet ECB je na seji 6 . decembra 2007 na podlagi redne ekonomske in denarne analize sklenil , da pusti ključne obrestne mere ECB nespremenjene .
The information that has become available since the previous meeting of the Governing Council , on 8 November , has confirmed the existence of strong short-term upward pressure on inflation , with the HICP inflation rate reaching 3.0% in November .
Informacije , ki so postale dostopne po zadnji seji Sveta ECB 8 . novembra 2007 , potrjujejo , da obstajajo močni kratkoročni pritiski na rast inflacije , pri čemer je inflacija , merjena z indeksom HICP , novembra dosegla 3,0% .
It has also fully confirmed the assessment that there are upside risks to price stability over the medium term .
Ravno tako so popolnoma potrdile oceno , da srednjeročno obstajajo navzgor usmerjena tveganja za cenovno stabilnost .
Against this background , and with money and credit growth remaining very vigorous in the euro area , the Governing Council stands ready to counter upside risks to price stability , as required by its mandate .
Upoštevajoč to ugotovitev ter še naprej zelo živahno rast denarja in kreditov v euroobmočju , je Svet ECB pripravljen preprečiti navzgor usmerjena tveganja za stabilnost cen , kot to zahteva mandat ECB .
The economic fundamentals of the euro area remain sound . However , the reappraisal of risk in financial markets is still evolving and is accompanied by continued uncertainty about the potential impact on the real economy .
Gospodarski temelji euroobmočja ostajajo trdni , vendar prevrednotenje tveganja na finančnih trgih še ni končano in ga spremlja nadaljnja negotovost glede morebitnega vpliva na realno gospodarstvo .
The Governing Council will therefore monitor very closely all developments .
Svet ECB bo zato zelo natančno spremljal vsa dogajanja .
By acting in a firm and timely manner on the basis of its assessment , the Governing Council will ensure that second-round effects and risks to price stability over the medium term do not materialise .
Z odločnim in pravočasnim ukrepanjem na podlagi svoje ocene bo tako zagotovil , da se sekundarni učinki in tveganja za stabilnost cen v srednjeročnem obdobju ne uresničijo .
Firmly anchoring medium and long-term inflation expectations in line with price stability is all the more important at times of financial market volatility and increased uncertainty .
Trdno zasidranje srednjeročnih in dolgoročnih inflacijskih pričakovanj v skladu s stabilnostjo cen je še toliko pomembnejše v času nestanovitnosti na finančnih trgih in povečane negotovosti .
As regards the financial markets , the Governing Council will continue to pay great attention to developments over the coming weeks .
Kar zadeva finančne trge , bo Svet ECB v prihodnjih tednih še naprej pozorno spremljal vsa dogajanja .
Starting with the economic analysis , according to Eurostat 's first estimate , the quarter-on-quarter growth rate of euro area real GDP in the third quarter of 2007 was 0.7% , in line with the earlier flash estimate .
V okviru ekonomske analize Eurostatova prva ocena kaže , da je realna rast BDP v euroobmočju v tretjem četrtletju 2007 glede na prejšnje četrtletje znašala 0,7% , kar je skladno s predhodno oceno .
Domestic demand remained the main driver of economic growth in the third quarter , confirming the sustained nature of economic expansion in the euro area .
Domače povpraševanje je v tretjem četrtletju ostalo glavni vzvod gospodarske rasti , kar kaže na nadaljevanje gospodarske konjunkture v euroobmočju .
The latest information on economic activity from various confidence surveys and indicator-based estimates supports the assessment that economic growth has continued into the fourth quarter of this year , though probably at a more moderate pace than in the third quarter .
Najnovejše informacije o gospodarski aktivnosti , ki izhajajo iz različnih anket o zaupanju in ocen na podlagi kazalnikov , potrjujejo oceno , da se je gospodarska rast nadaljevala tudi v zadnjem četrtletju letošnjega leta , čeprav je bila dinamika verjetno bolj umirjena kot v tretjem četrtletju .
Overall , the fundamentals of the euro area remain sound .
Gledano v celoti ostajajo gospodarski temelji euroobmočja trdni .
Profitability has been sustained , employment growth has been robust and the unemployment rate has fallen to levels not seen for 25 years .
Dobičkonosnost se je ohranila na doseženi ravni , rast zaposlenosti je bila močna , stopnja brezposelnosti pa se je znižala na najnižjo raven v zadnjih 25 letih .
These factors are also reflected in the December 2007 Eurosystem staff macroeconomic projections .
Podobno kažejo tudi makroekonomske projekcije , ki so jih decembra 2007 pripravili strokovnjaki Eurosistema .
Annual real GDP growth is projected to lie in the range of 2.4% to 2.8% in 2007 , and be between 1.5% and 2.5% in 2008 , and between 1.6% and 2.6% in 2009 .
Realna rast BDP se bo po projekcijah gibala med 2,4% in 2,8% v letu 2007 , med 1,5% in 2,5% v letu 2008 ter med 1,6% in 2,6% v letu 2009 .
In comparison with the September ECB staff projections , the range projected for real GDP growth in 2008 has been revised slightly downwards , whereas for 2007 the new range lies within the upper part of the previous one .
V primerjavi s septembrskimi projekcijami strokovnjakov ECB so bili napovedani razponi realne rasti BDP za leto 2008 nekoliko popravljeni navzdol , medtem ko je novi razpon rasti za leto 2007 v zgornjem delu prejšnje napovedi .
Available forecasts from international organisations broadly confirm this outlook .
Razpoložljive napovedi mednarodnih organizacij večinoma potrjujejo takšna predvidevanja .
The scenario of sustained real GDP growth broadly in line with trend potential is based on the expectation that the global economy will remain resilient , with the slowdown of economic growth in the United States partly offset by the continued strength of emerging market economies .
Scenarij , po katerem naj bi realna rast BDP ostala približno v skladu s trendom potencialne rasti , temelji na pričakovanju , da bo svetovno gospodarstvo še naprej vztrajno , pri čemer bo upočasnjeno gospodarsko rast v ZDA deloma odtehtala nadaljnja močna rast v razvijajočih se tržnih gospodarstvih .
External demand should therefore provide ongoing support to euro area exports and investment .
Tako bo zunanje povpraševanje predvidoma še naprej podpiralo izvoz in investicije euroobmočja .
Consumption growth should also contribute to economic expansion , in line with developments in real disposable income , as continued employment growth provides supportive conditions .
Gospodarsko rast bo spodbujala tudi rast potrošnje , ki se bo predvidoma krepila skladno z gibanjem realnega razpoložljivega dohodka , saj bodo razmere ob nadaljnji rasti zaposlovanja ugodne .
That said , in view of the potential impact of ongoing financial market volatility and re-pricing of risk on the real economy , the level of uncertainty remains high .
Zaradi morebitnega vpliva trenutne nestanovitnosti na finančnih trgih in ponovne ocene tveganja za realno gospodarstvo pa je raven negotovosti še vedno visoka .
In the Governing Council 's view , the risks surrounding this outlook for economic growth lie on the downside .
Po mnenju Sveta ECB so tveganja , ki spremljajo takšne gospodarske obete , na strani upočasnjevanja gospodarske rasti .
They relate mainly to the potential for a broader impact from the ongoing reappraisal of risk in financial markets on financing conditions and confidence and on world and euro area growth , possible further oil and commodity price rises , as well as concerns about protectionist pressures and possible disorderly developments owing to global imbalances .
Povezana so predvsem z možnostjo , da bo imelo sedanje prevrednotenje tveganja na finančnih trgih širši učinek na pogoje financiranja in zaupanje ter na svetovno gospodarsko rast in rast v euroobmočju .
As regards price developments , according to Eurostat 's flash estimate , the annual HICP inflation rate increased sharply again in November 2007 , to 3.0% from 2.6% in October .
Druga tveganja so povezana z morebitno nadaljnjo rastjo cen nafte in primarnih surovin , pa tudi z bojaznijo glede protekcionističnih pritiskov in možnih neobvladljivih gibanj zaradi svetovnih neravnovesij . Na področju cenovnih gibanj se je po Eurostatovi prvi oceni medletna inflacija , merjena z indeksom HICP , novembra 2007 v primerjavi z oktobrom zopet skokovito povišala z 2,6% na 3,0% .
Oil prices have risen strongly in recent months , and food prices have increased substantially , reflecting higher global demand .
Cene nafte so v zadnjih mesecih močno porasle , cene hrane pa so se znatno povišale predvsem zaradi močnejšega svetovnega povpraševanja .
In addition , as emphasised by the Governing Council on previous occasions , unfavourable effects from energy prices are having a strong upward impact on annual HICP inflation rates in the current period , owing to the marked decline in oil prices a year ago.
Kot je Svet ECB v preteklosti že poudaril , neugodni učinki cen energentov v sedanjem obdobju povzročajo močan pritisk na rast medletnih stopenj inflacije po HICP , kar je predvsem posledica precejšnjega padca cen nafte pred enim letom .
Looking ahead , the HICP inflation rate is expected to remain significantly above 2 % in the coming months , and is likely to moderate only gradually in the course of 2008 .
V prihodnjem obdobju naj bi stopnja inflacije po HICP ostala precej nad 2 % in se bo tekom leta 2008 verjetno le postopno umirjala .
Hence , the period of temporarily high rates of inflation would be somewhat more protracted than previously expected .
Obdobje začasno visokih stopenj inflacije bo tako nekoliko dolgotrajnejše , kot smo pričakovali prej .
The December Eurosystem staff projections foresee annual HICP inflation to be between 2.0% and 2.2% in 2007 , but then to rise to between 2.0% and 3.0% in 2008 .
V decembrskih projekcijah strokovnjakov Eurosistema je predvideno , da bo medletna inflacija po HICP v letu 2007 znašala med 2,0% in 2,2% , v letu 2008 pa naj bi se povečala na raven med 2,0% in 3,0% .
For 2009 , HICP inflation is projected to lie between 1.2% and 2.4% .
Po projekcijah se bo inflacija v letu 2009 gibala med 1,2% in 2,4% .
Compared with the September 2007 ECB staff projections , the projected ranges for HICP inflation in 2007 and 2008 have shifted upwards .
V primerjavi s septembrskimi projekcijami strokovnjakov ECB so se napovedani razponi inflacije po HICP za leto 2007 in 2008 pomaknili navzgor .
Forecasts from international organisations which incorporate recent inflation developments give a broadly similar picture .
Napovedi mednarodnih organizacij , ki vključujejo novejša inflacijska gibanja , dajejo večinoma podobno sliko .
These projections largely mirror the assumed path of oil and food prices , for which available futures prices suggest a deceleration in the course of next year .
Te projekcije večinoma odražajo predvideno gibanje cen nafte in hrane , ki naj bi se glede na razpoložljive cene na terminskih trgih tekom naslednjega leta upočasnile .
On the domestic side , unit labour cost growth is projected to increase over the projection horizon .
V domačem okolju naj bi se rast stroškov dela na enoto proizvoda v obdobju projekcij povečala .
In this context it is important to emphasise that the staff projections are based on the key assumption that recent oil and food price dynamics and their impact on HICP inflation will not have broadly-based second-round effects on wage-setting behaviour .
Ob tem je pomembno poudariti , da projekcije strokovnjakov temeljijo na ključni predpostavki , da nedavna gibanja cen nafte in hrane ter njihov vpliv na inflacijo po HICP ne bodo imela širših sekundarnih učinkov na oblikovanje plač .
A further key assumption is that growth in profit margins will moderate over the projection horizon .
Nadaljnja ključna predpostavka je , da se bo rast stopnje dobička v obdobju projekcij umirila .
In combination , these two assumptions imply , in the context of the staff projections , a continuation of overall contained domestic cost pressures , which contributes to the moderation in inflation projected in 2009 .
V okviru projekcij ti dve predpostavki skupaj pomenita , da bodo celotni domači stroškovni pritiski še naprej omejeni , kar omogoča umirjanje inflacije v letu 2009 .
In the Governing Council 's view , risks to this medium-term outlook for price developments are fully confirmed to lie on the upside .
Po mnenju Sveta ECB so tveganja glede srednjeročnih cenovnih gibanj popolnoma potrjeno usmerjena navzgor .
These risks include the possibility of further rises in oil and agricultural prices , continuing the strong momentum observed in recent months , as well as increases in administered prices and indirect taxes beyond those foreseen thus far .
Obsegajo možnost nadaljnje rasti cen nafte in kmetijskih izdelkov , s čimer bi se nadaljeval močan zagon iz zadnjih mesecev , ter nepričakovano povečanje nadzorovanih cen in posrednih davkov .
Moreover , taking into account the existence of capacity constraints , the favourable momentum of real GDP growth observed over the past few quarters and the positive developments in labour markets , stronger than currently expected wage growth may emerge .
Zaradi omejenega obsega prostih zmogljivosti , ugodne dinamike realne rasti BDP v zadnjih nekaj četrtletjih ter pozitivnih gibanj na trgu dela lahko pride do močnejše rasti plač od trenutno pričakovane .
Furthermore , an increase in pricing power in market segments with low competition could materialise . It is therefore crucial that all parties concerned meet their responsibilities and that second-round effects on wage and price-setting stemming from recent commodity price rises be avoided .
Poleg tega bi se v tržnih segmentih z nižjo konkurenco lahko povečala moč podjetij pri oblikovanju cen . Zato je bistveno , da vse udeležene strani ravnajo odgovorno ter da se prepreči sekundarne učinke na plače in oblikovanje cen , ki izhajajo iz nedavne rasti cen primarnih surovin .
To that end , any explicit or de facto indexation of nominal wages to prices should be eliminated .
V ta namen bi bilo treba odpraviti izrecno ali dejansko indeksacijo nominalnih plač .
Money and credit have both continued to grow vigorously in recent months .
Obseg denarja in kreditov se je v zadnjih mesecih še naprej živahno povečeval .
The annual growth rate of M3 in October , at 12.3% , is likely to have been influenced by a number of temporary factors , such as the flattening of the yield curve , the financial market turmoil and specific transactions associated with the restructuring of certain banking groups .
Na medletno stopnjo rasti denarnega agregata M3 , ki je oktobra znašala 12,3% , je verjetno vplivalo več začasnih dejavnikov , kot so položnejša krivulja donosnosti , pretresi na finančnih trgih in posebne transakcije , povezane s prestrukturiranjem nekaterih bančnih skupin .
However , even taking these special factors into account , the underlying rate of monetary expansion remains strong .
Vseeno pa celo ob upoštevanju teh posebnih dejavnikov osnovna stopnja rasti denarja ostaja visoka .
Moreover , the sustained expansion of loans to the domestic private sector , which grew at an annual rate of 11.2% in October , points to the continued vigour of underlying monetary dynamics .
Na nadaljnjo živahno osnovno dinamiko rasti denarja kaže tudi ohranjanje rasti posojil domačemu zasebnemu sektorju , ki so se oktobra medletno povečala za 11,2% .
Monetary developments therefore continue to require very careful monitoring , both to detect underlying trends associated with inflationary pressures at longer horizons and to better understand shorter-term dynamics .
Zato je treba denarna gibanja še naprej zelo skrbno spremljati , da bi ugotovili osnovne trende , povezane z inflacijskimi pritiski v daljšem časovnem obdobju , ter bolje razumeli kratkoročno dinamiko .
Such monitoring will also provide a more complete picture of the response of the private sector to the increased volatility in financial markets .
Tako bo mogoče celoviteje razumeti , kako se na povečano nestanovitnost na finančnih trgih odziva zasebni sektor .
A broad assessment of underlying trends in money and credit growth is particularly important at present given recent financial market developments .
Širša ocena osnovnega trenda rasti denarja in kreditov je zaradi nedavnih gibanj na finančnih trgih v sedanjem trenutku še posebno pomembna .