CONTENTS A B B R E V I AT I O N S A N D A C RO N Y M S F O R E WO R D A C K N OW L E D G E M E N T S I N T RO D U C T I O N CHAPTER 1 E M U , t h e E C B a n d t h e e u ro 1.1 The road to EMU and the euro 1.1.1 First steps towards European monetary integration 1.1.2 The European Monetary System and the Single European Act 1.1.3 The Treaty on European Union 1.1.4 The realisation of EMU and the changeover to the euro 1.2 Legal basis and characteristics of EMU 1.2.1 Legal basis 1.2.2 Characteristics CHAPTER 2 Central banking in EMU : legal , institutional and organisational aspects 2.1 The ECB , the ESCB and the Eurosystem 2.1.1 ESCB and Eurosystem as the organic link between the ECB and the NCBs 2.1.2 The ECB as a specialised organisation of Community law 2.1.3 The euro area NCBs as an integral part of the Eurosystem 2.1.4 The NCBs of the non-participating EU Member States 2.2 Objectives 2.2.1 The primary objective of price stability 2.2.2 The support of general economic policies 2.2.3 The principle of an open market economy 2.3 Assignment of tasks by the Treaty 2.3.1 Basic tasks of the Eurosystem 2.3.2 Other tasks 2.4 Centralised decision-making and operational decentralisation 2.5 The ECB 's role in the Eurosystem 2.5.1 Decision-making centre of the ESCB and the Eurosystem 2.5.2 Consistent implementation of policy decisions 2.5.3 The ECB 's regulatory powers 2.5.4 The ECB 's advisory activities 2.5.5 Monitoring compliance with the prohibition of monetary financing and privileged access 2.5.6 Performance of tasks taken over from the EMI 15 15 15 19 20 22 28 28 30 8 9 11 12 41 41 42 43 44 44 45 45 47 47 48 48 49 49 51 51 63 68 70 73 74
KAZALO OKRAJ · AVE IN KRATICE PREDGOVOR ZAHVALA UVOD POGLAVJE 1 Ekonomska in monetarna unija , ECB ter euro 1.1 Pot do ekonomske in monetarne unije ter eura 1.1.1 Prvi koraki k denarnemu povezovanju Evrope 1.1.2 Evropski monetarni sistem in Enotni evropski akt 1.1.3 Pogodba o Evropski uniji 1.1.4 Uresničitev ekonomske in monetarne unije ter prehod na euro 1.2 Pravna podlaga ter značilnosti ekonomske in monetarne unije 1.2.1 Pravna podlaga 1.2.2 Značilnosti POGLAVJE 2 Centralno banãni‰tvo v ekonomski in monetarni uniji : pravni , institucionalni in organizacijski vidiki 2.1 ECB , ESCB in Eurosistem 2.1.1 ESCB in Eurosistem kot naravna vez med ECB in nacionalnimi centralnim i bankami 2.1.2 ECB kot specializirana organizacija zakonodaje Skupnosti 2.1.3 Nacionalne centralne banke euroobmočja kot sestavni del Eurosistema 2.1.4 Nacionalne centralne banke nesodelujočih držav članic EU 2.2 Cilji 2.2.1 Temeljni cilj : cenovna stabilnost 2.2.2 Podpora splošnim ekonomskim politikam 2.2.3 Načelo odprtega tržnega gospodarstva 2.3 Dodelitev nalog s Pogodbo 2.3.1 Temeljne naloge Eurosistema 2.3.2 Druge naloge 2.4 Centralizirano odločanje in operativna decentralizacija 2.5 Vloga ECB v Eurosistemu 2.5.1 Središče odločanja ESCB in Eurosistema 2.5.2 Dosledno uresničevanje sklepov o denarni politiki 2.5.3 Normativna pooblastila ECB 2.5.4 Svetovalna dejavnost ECB 2.5.5 Spremljanje skladnosti s prepovedjo denarnega financiranja in privilegiranega dostopa 2.5.6 Izvajanje od EMI prevzetih nalog 41 41 42 43 44 44 45 45 45 47 47 47 48 49 50 51 61 67 68 71 72 3 15 15 15 18 20 21 27 28 29 8 9 11 12