natgillin/translations-raw huggingface dataset:
As the non-participating Member States have maintained their monetary sovereignty , their respective central banks are not involved in carrying out the System 's core functions .
Ker so nesodelujoče države članice obdržale svojo denarno suverenost , njihove centralne banke niso vključene v opravljanje temeljnih nalog sistema .
Therefore , to help the public to understand the complex structure of the European central banking system more easily , the Governing Council of the ECB decided in November 1998 to adopt the term « Eurosystem » .
Da bi javnosti omogočili boljše razumevanje zapletene strukture evropskega centralnobančnega sistema , je Svet ECB novembra 1998 sklenil uvesti izraz „Eurosistem » .
This term refers to the composition -- the ECB and the NCBs of the Member States that have adopted the euro -- in which the ESCB performs its basic tasks .
Izraz se nanaša na sestavo , v kateri ESCB opravlja svoje temeljne naloge , tj . ECB in nacionalne centralne banke držav članic , ki so uvedle euro .
There are three main political and economic reasons why a system was established to carry out central bank functions for the euro , and not a single central bank : 1 .
Obstajajo trije glavni politični in ekonomski razlogi za prenos centralnobančnih nalog v zvezi z eurom na sistem in ne na eno centralno banko . 1 .
The establishment of a single central bank for the whole euro area ( possibly concentrating central bank business in one single place ) would not have been acceptable on political grounds .
Ustanovitev ene centralne banke za celotno euroobmočje ( po možnosti s koncentracijo centralnobančnega poslovanja na enem samem mestu ) ne bi bila sprejemljiva iz političnih razlogov .
The Eurosystem approach builds on the experience of the NCBs , preserves their institutional set-up , infrastructure and operational capabilities and expertise ; moreover , NCBs continue to perform some non-Eurosystem-related tasks .
Koncept Eurosistema gradi na izkušnjah nacionalnih centralnih bank ter ohranja njihovo institucionalno strukturo , operativne zmogljivosti in strokovno znanje , nacionalne centralne banke pa še naprej opravljajo nekatere naloge , ki niso povezane z Eurosistemom .
Given the large geographic area of the euro area , it was deemed appropriate to give credit institutions an access point to central banking in each participating Member State .
Glede na geografsko razsežnost euroobmočja se je zdelo primerno , da se kreditnim institucijam omogoči dostop do centralne banke v vsaki državi članici .
Given the large number of nations and cultures in the euro area , domestic institutions ( rather than a supranational one ) were considered best placed to serve as points of access to the Eurosystem .
Glede na veliko število držav in kultur v euroobmočju se je zdelo , da bi domače institucije omogočale boljši dostop do Eurosistema kot ena sama nadnacionalna .
The construction of the Eurosystem builds on established central bank structures and respects the cultural and national diversity of the euro area . At the same time ,
Ustroj Eurosistema gradi na uveljavljenih centralnobančnih strukturah ter spoštuje nacionalno in kulturno raznolikost euroobmočja .
42 the fact that the NCBs are autonomous entities fosters cross-fertilisation and , where appropriate , emulation as regards best practices and thus creates a potential for improving the efficiency of operational management within the Eurosystem .
Dejstvo , da so nacionalne centralne banke samostojni subjekti , hkrati predstavlja tudi možnost medsebojnega oplajanja in posnemanja najboljših praks , pa tudi možnost izboljšanja učinkovitosti 42 operativnega vodenja v Eurosistemu .
To that end , in January 2005 , the Eurosystem central banks agreed on a mission statement , together with a common understanding of the Eurosystem 's strategic intents and on organisational principles for fostering effectiveness and efficiency in performing the Eurosystem 's functions . 2 .
Zaradi tega so se centralne banke Eurosistema januarja 2005 dogovorile o izjavi o poslanstvu kot tudi o enotnem razumevanju strateških namer in organizacijskih načel Eurosistema , da bi se povečala učinkovitost in uspešnost pri opravljanju njegovih nalog .
2 T h e E C B a s a s p e c i a l i s e d o r g a n i s a t i o n o f C o m m u n i t y l aw The EC Treaty has established the ECB as a specialised , independent organisation for conducting monetary policy and performing related functions . To this end , the ECB has been given a legal personality of its own , with its own decision-making bodies and powers .
2.1.2 ECB kot specializirana organizacija zakonodaje Skupnosti Po Pogodbi ES je ECB specializirana , neodvisna organizacija , ki je pristojna za izvajanje denarne politike in s tem povezanih nalog . V ta namen je postala pravna oseba s svojimi organi odločanja in pristojnostmi .
Its organisation as a central bank responds to the specific nature of monetary policy , i.e. a public policy function that is implemented mainly by financial market operations .
Njena organiziranost kot centralna banka ustreza posebni naravi denarne politike , tj . javni funkciji , ki se v glavnem izvaja z operacijami na finančnih trgih .
Legal personality The ECB has legal personality under Article 107 ( 2 ) of the EC Treaty and enjoys the most extensive legal capacity accorded to legal persons under the respective national law of each Member State under Article 9.1 of the Statute of the ESCB .
Pravna osebnost ECB je po členu 107 ( 2 ) Pogodbe ES pravna oseba in ima v skladu s členom 9.1 Statuta ESCB najširšo pravno sposobnost , ki jo pravnim osebam priznavajo nacionalne zakonodaje držav članic .
It may therefore acquire or dispose of movable and immovable property and be party to legal proceedings .
Zato lahko pridobiva premično in nepremično premoženje in z njim razpolaga ter kot stranka sodeluje v sodnih postopkih .
In addition , the ECB enjoys those privileges and immunities that are necessary for the performance of its tasks , under the conditions laid down in the Protocol on the privileges and immunities of the European Communities of 8 April 19651 .
Poleg tega ECB uživa privilegije in imunitete , ki so potrebni za opravljanje nalog , pod pogoji , določenimi s Protokolom o privilegijih in imunitetah Evropskih skupnosti z dne 8 . aprila 19651 .
As a legal person under public international law , the ECB is in a position to , among other things , conclude international agreements in matters relating to its field of competence and participate in the work of international organisations such as the International Monetary Fund ( IMF ) , the Bank for International Settlements ( BIS ) and the Organisation for Economic Co-operation and Development ( OECD ) .
Kot pravna oseba po mednarodnem javnem pravu sme ECB med drugim sklepati tudi mednarodne sporazume v zadevah , ki se nanašajo na področje njene pristojnosti , ter sodelovati pri delu mednarodnih organizacij , kot so Mednarodni denarni sklad ( MDS ) , Banka za mednarodne poravnave ( BIS ) ter Organizacija za gospodarsko sodelovanje in razvoj ( OECD ) .
Institutional status Although performing a policy function under the EC Treaty the ECB is not a Community institution in the proper meaning of the term .
Institucionalni status Čeprav ECB po Pogodbi ES opravlja nalogo oblikovanja in izvajanja politik , ni institucija Skupnosti v pravem pomenu besede .
It is not referred to in Article 7 of the EC Treaty which establishes the five institutions of the Community : the European Parliament , the Council , the European Commission , the Court of Justice and the Court of Auditors .
Člen 7 Pogodbe ES se ne sklicuje nanjo , ko določa pet institucij Skupnosti : Evropski parlament , Svet , Komisijo , Sodišče in Računsko sodišče .
These institutions are entrusted with the broad mandate of carrying out the tasks of the Community within the limits of the powers conferred upon them by the Treaty .
Tem ustanovam je zaupan širok mandat opravljanja nalog Skupnosti v okviru pristojnosti , ki jim jih daje Pogodba .
Instead , the legal basis of the ESCB and the ECB is provided for in a separate article ( Article 8 of the Treaty ) .
Namesto tega je pravna podlaga ESCB in ECB določena v posebnem členu ( člen 8 Pogodbe ) .
This underpins the specific status of the ECB within the overall context of the European Community , sets it apart from the other institutions and their auxiliary bodies and limits its activities to a clearly defined special task . 1
To še poudarja posebni status ECB v celotnem kontekstu Evropske skupnosti , jo ločuje od drugih institucij in njihovih pomožnih organov ter omejuje njene dejavnosti na jasno določeno posebno nalogo .
Article 23 of the Protocol states that the Protocol applies to the European Central Bank , to the members of its organs and to its staff , without prejudice to the provisions of the Statute of the ESCB .
Kot organizacija , ustanovljena s Pogodbo ES , ima ECB prave pristojnosti . Teh ni dobila od ustanov Skupnosti , pač pa neposredno na podlagi Pogodbe ES .
As an organisation created by the EC Treaty , the ECB enjoys genuine powers . These powers have not been delegated by the Community institutions ;
Ta lastnost jo razlikuje od različnih decentraliziranih služb Skupnosti , ki sicer so pravne osebe , vendar so jim pristojnosti podelile ustanove Skupnosti2 .
they are genuine powers given to the ECB by the EC Treaty . This feature distinguishes the ECB from the various decentralised agencies of the Community , which possess their own legal personality but have competences delegated to them by the Community institutions .
Člen 21 Protokola določa , da Protokol velja za Evropsko centralno banko , člane njenih organov in njene zaposlene , brez poseganja v določbe Statuta ESCB . Na primer Evropska agencija za okolje ( EEA ) , Urad za usklajevanje na notranjem trgu ( OHIM ) in Evropska agencija za vrednotenje zdravil ( EMEA ) .
1 . 3 T h e e u ro a re a N C B s a s a n i n t e g r a l p a r t o f t h e E u ro s y s t e m Each NCB of the Eurosystem has legal personality within the national law of its respective country .
2.1.3 Nacionalne centralne banke euroobmoãja kot sestavni del Eurosistema Vsaka nacionalna centralna banka je pravna oseba po nacionalni zakonodaji svoje države .
However , all euro area NCBs are integral parts of the Eurosystem by virtue of Article 105 of the EC Treaty and Article 14.3 of the Statute of the ESCB .
Vendar pa so vse nacionalne centralne banke sestavni del Eurosistema na podlagi člena 105 Pogodbe in člena 14.3 Statuta ESCB .
Under Article 12.1 of the Statute , they carry out those Eurosystem tasks which have been delegated to them by the ECB in line with the principle of decentralisation ( see Section 2.4 ) and act in accordance with the guidelines and instructions of the ECB ( Article 14.3 of the Statute ) .
Po členu 12.1 Statuta opravljajo tiste naloge Eurosistema , ki jim jih je naložila ECB v skladu z načelom decentralizacije ( glej razdelek 2.4 ) , ter delujejo v skladu s smernicami in navodili ECB ( člen 14.3 Statuta ) .
At the same time , the Governors of the Eurosystem NCBs are , alongside the members of the Executive Board , ex officio members of the Governing Council of the ECB ( Article 10 of the Statute of the ESCB ) .
Hkrati so guvernerji nacionalnih centralnih bank Eurosistema , skupaj s člani Izvršilnega odbora ECB , ex officio člani Sveta ECB ( člen 10 Statuta ESCB ) .
As « shareholders » of the ECB , the Eurosystem NCBs endow the ECB with capital and foreign reserve assets and participate in its financial results ( Articles 28 , 30 and 33 of the Statute ) .
Kot „delničarke » ECB nacionalne centralne banke Eurosistema zagotovijo kapital in devizne rezerve ter so udeležene v izidu poslovanja ECB ( členi 28 , 30 in 33 Statuta ) .
To integrate the NCBs into the Eurosystem , the relevant national legislation has been brought into line with Community law : national laws and statutes have to ensure , in particular , that the NCBs and their decision-making bodies are independent of the authorities of the respective EU Member States ( see Section 4.1 ) .
Za vključitev nacionalnih centralnih bank v Eurosistem je bila potrebna uskladitev nacionalne zakonodaje z zakonodajo Skupnosti : nacionalni zakoni in statuti morajo zlasti zagotoviti neodvisnost nacionalnih centralnih bank in njihovih organov odločanja od oblasti zadevnih držav članic EU ( glej razdelek 4.1 ) .
Independence is a requirement because of the NCBs » and their Governors » involvement in the functioning of the Eurosystem .
Neodvisnost je potrebna zaradi sodelovanja nacionalnih centralnih bank in njihovih guvernerjev pri delovanju Eurosistema .
The functional integration of the NCBs into the Eurosystem does not infringe upon their existing institutional , financial and administrative autonomy .
Funkcionalna vključenost nacionalnih centralnih bank v Eurosistem ne omejuje njihove siceršnje institucionalne , finančne in administrativne avtonomije .
Under the Statute of the ESCB , the NCBs may perform non-Eurosystem functions on their own responsibility , provided that these functions do not interfere with the objectives and tasks of the Eurosystem .
Po Statutu lahko na lastno odgovornost opravljajo tudi naloge , ki niso v pristojnosti Eurosistema , če le niso v nasprotju z njegovimi cilji in nalogami .
Non-Eurosystem functions vary according to countries and mainly consist of various types of financial and administrative services to the governments of the respective countries .
Te naloge se razlikujejo od države do države ter v glavnem obsegajo različne vrste finančnih in upravnih storitev za vlade posameznih držav .
Most NCBs are also involved in supervising financial institutions in their respective countries ( see Section 3.7 ) .
Večina nacionalnih centralnih bank sodeluje tudi pri nadzoru finančnih institucij v svoji državi ( glej razdelek 3.7 ) .
2.1.4 The NCBs of the non-participating EU Member States The NCBs of the non-participating EU Member States are also members of the ESCB but have a special status . They are responsible for their respective national monetary policies and are thus excluded from taking part in the core activities of the Eurosystem , in particular the conduct of the single monetary policy .
2.1.4 Nacionalne centralne banke nesodelujoãih drÏav ãlanic EU Nacionalne centralne banke nesodelujočih držav članic EU so prav tako članice ESCB , vendar imajo poseben status .
For example , the European Environment Agency ( EEA ) , the Office for Harmonisation in the Internal Market ( OHIM ) and the European Agency for the Evaluation of Medicinal Products ( EMEA ) .
Odgovorne so za svojo nacionalno denarno politiko in so zato izključene iz sodelovanja pri temeljnih dejavnostih Eurosistema , zlasti vodenja enotne denarne politike .
Governors are not members of the ECB 's Governing Council and do not take part in the decision-making process for the Eurosystem 's core activities .
Njihovi guvernerji niso člani Sveta ECB in ne sodelujejo v postopku odločanja , ki se nanaša na temeljne dejavnosti Eurosistema .
Likewise , these NCBs are not involved in implementing the single monetary policy and related functions .
Prav tako te nacionalne centralne banke ne sodelujejo pri izvajanju enotne denarne politike in s tem povezanih nalog .
The non-participating NCBs are nevertheless committed to the principles of price stability-oriented monetary policy .
Kljub temu so nesodelujoče nacionalne centralne banke predane načelom denarne politike , katere cilj je cenovna stabilnost .
Furthermore , being members of the ESCB implies that they need to work closely with the Eurosystem in several fields : for instance , they provide support for the collection of statistics ( see Section 3.5 ) .
Še več , dejstvo , da so članice ESCB , od njih zahteva tesno sodelovanje z Eurosistemom na različnih področjih : tako na primer podpirajo zbiranje statističnih podatkov ( glej razdelek 3.5 ) .
In addition , the European Exchange Rate Mechanism II ( ERM II ) provides a framework for monetary and exchange rate policy cooperation with the Eurosystem ( see Section 3.2.1 ) .
Poleg tega evropski mehanizem deviznih tečajev II ( ERM II ) zagotavlja okvir za sodelovanje z Eurosistemom pri denarni in tečajni politiki ( glej razdelek 3.2.1 ) .
The institutional forum for such cooperation is the General Council of the ECB ( see Section 2.5.1 ) .
Institucionalni forum za takšno sodelovanje je Razširjeni svet ( glej razdelek 2.5.1 ) .
2.2 OBJECTIVES In line with Article 105 ( 1 ) of the Treaty , the primary objective of the ESCB is to maintain price stability .
2.2 CILJI V skladu s členom 105 ( 1 ) Pogodbe je poglavitni cilj ESCB ohranjanje stabilnosti cen .
Without prejudice to this objective , it shall support the general economic policies in the Community with a view to contributing to the achievement of the objectives of the Community ( which include a high level of employment and sustainable and non-inflationary growth ) .
Brez poseganja v ta cilj ESCB podpira splošne ekonomske politike v Skupnosti , da bi prispeval k doseganju njenih ciljev ( ki vključujejo visoko stopnjo zaposlenosti ter trajnostno in neinflatorno rast ) .
Furthermore , the ESCB shall act in line with the principle of an open market economy with free competition .
Poleg tega ESCB deluje v skladu z načelom odprtega tržnega gospodarstva s svobodno konkurenco .
Since Article 105 ( 1 ) of the Treaty does not apply to the EU Member States which have not adopted the euro the term « ESCB » must be read as « Eurosystem » .
Ker člen 105 ( 1 ) Pogodbe ne velja za države članice EU , ki niso uvedle eura , je treba izraz „ESCB » razumeti kot „Eurosistem » .
1 T h e p r i m a r y o b j e c t i ve o f p r i c e s t a b i l i t y The primary objective of the Eurosystem to maintain price stability is the key provision of the monetary policy chapter of the Treaty .
2.2.1 Temeljni cilj : cenovna stabilnost Temeljni cilj Eurosistema -- ohranjanje cenovne stabilnosti -- je ključna določba poglavja Pogodbe , ki se nanaša na denarno politiko .
It reflects modern economic thinking about the role , scope and limits of monetary policy and underlies the institutional and organisational set-up of central banking in EMU .
Odraža sodobno ekonomsko razmišljanje o vlogi , obsegu in omejitvah denarne politike ter poudarja institucionalno in organizacijsko ureditev centralnega bančništva v ekonomski in monetarni uniji .
The objective of maintaining price stability has been assigned by the EC Treaty for good reasons .
Cilj ohranjanja cenovne stabilnosti je bil v Pogodbi ES določen iz utemeljenih razlogov .
First , decades of practical experience and a large number of economic studies suggest that monetary policy will contribute most to improving economic prospects and raising the living standards of citizens by maintaining price stability in a lasting way ( see Box 7 ) .
Prvič , desetletja praktičnih izkušenj in veliko število ekonomskih raziskav kažejo na to , da lahko denarna politika še največ prispeva k izboljšanju ekonomskih možnosti in dvigu življenjskega standarda prebivalcev , če na trajen način ohranja cenovno stabilnost ( glej okvir 7 ) .
Second , the theoretical foundations of monetary policy as well as experience drawn from the past demonstrate that monetary policy can ultimately only influence the price level in the economy ( see Section 3.1.1 ) .
Drugič , teoretični temelji denarne politike in izkušnje kažejo , da lahko denarna politika nenazadnje vpliva le na raven cen v gospodarstvu ( glej razdelek 3.1.1 ) .
Thus , price stability is the only feasible objective for the single monetary policy over the medium term .
Ohranjanje cenovne stabilnosti je zato edini uresničljivi cilj , ki si ga v srednjeročnem obdobju lahko postavi skupna denarna politika . Denarna politika , z izjemo pozitivnega vpliva na cenovno stabilnost , namreč nima možnosti , da bi trajno vplivala na realne gospodarske spremenljivke .
By contrast , apart from the positive impact of price stability , monetary policy has no scope for exerting any lasting influence on real variables .
Kot je že omenjeno , lahko ECB dejansko največ prispeva k spodbujanju „trajnostne in neinflatorne rasti » ter „visoke stopnje zaposlenosti » iz člena 2 Pogodbe ES , če vodi denarno politiko , ki je usmerjena k cenovni stabilnosti .
B ox 7 T h e b e n e f i t s o f p r i c e s t a b i l i t y The objective of price stability refers to the general level of prices in the economy and implies avoiding both prolonged inflation and deflation .
Okvir 7 Prednosti cenovne stabilnosti Stabilnost cen se kot cilj nanaša na splošno raven cen v gospodarstvu in pomeni izogibanje daljšim obdobjem inflacije ali deflacije .
There are several ways in which price stability contributes to achieving high levels of economic activity and employment .
Cenovna stabilnost na več načinov prispeva k doseganju visoke ravni gospodarske aktivnosti in zaposlenosti .
Price stability makes it easier for people to recognise changes in relative prices since such changes are not obscured by fluctuations in the overall price level .
Zaradi cenovne stabilnosti ljudje lažje prepoznajo spremembe v relativnih cenah , saj takšnih sprememb ne zakrije nihanje splošne ravni cen .
This enables firms and consumers to make better-informed decisions on consumption and investment .
Tako lahko podjetja in potrošniki sprejemajo bolj zanesljive odločitve glede nakupov ali naložb .
This in turn allows the market to allocate resources more efficiently .
To po drugi strani trgu omogoča učinkovitejše razporejanje virov .
By helping the market to guide resources to where they can be used most productively , price stability raises the productive potential of the economy .
Cenovna stabilnost trgu pomaga tudi pri usmerjanju virov na področja , kjer se lahko uporabijo na najbolj produktiven način , s čimer zvišuje proizvodno zmožnost gospodarstva .
If investors can be sure that prices will remain stable in the future , they will not demand an « inflation risk premium » to compensate them for the risks associated with holding nominal assets over the longer term .
Če se investitorji lahko zanesejo na to , da bodo cene v prihodnosti ostale stabilne , ne zahtevajo „premije za inflacijsko tveganje » kot nadomestila za tveganje , ki je povezano z dolgoročnejšim imetjem nominalnih sredstev .
By reducing such risk premia in the real interest rate , monetary policy can contribute to the allocative efficiency of the capital market and thus increases the incentives to invest . This in turn fosters economic welfare .
Z zniževanjem takšnih premij za tveganje v realni obrestni meri lahko denarna politika pripomore k večji alokacijski učinkovitosti kapitalskega trga in tako spodbuja naložbe , kar po drugi strani spodbuja gospodarsko blaginjo .
The credible maintenance of price stability also makes it less likely that individuals and firms will divert resources from productive uses to hedge against inflation . For example , in a high inflation environment there is an incentive to stockpile real goods since they retain their value better than money or some financial assets in such circumstances .
Zaradi verodostojnega ohranjanja cenovne stabilnosti je tudi manj verjetno , da bi posamezniki in podjetja preusmerili vire iz produktivne rabe in se tako zavarovali pred inflacijo . Ljudje v okolju z visoko stopnjo inflacije na primer raje kopičijo zaloge realnega blaga , ki v takšnih okoliščinah bolje ohranja svojo vrednost kot denar ali nekatera druga finančna sredstva .
However , stockpiling goods is not an efficient investment decision , and therefore hinders economic growth .
Vendar pa kopičenje blaga kot investicija ni učinkovito , zato zavira gospodarsko rast .
Tax and welfare systems can create perverse incentives that distort economic behaviour .
Zaradi davčne in socialne ureditve lahko pride do napačnih spodbud , ki izkrivljajo ekonomsko vedenje .
In most cases , these distortions are exacerbated by inflation or deflation .
V večini primerov inflacija ali deflacija to izkrivljanje še poslabšuje .