natgillin/translations-raw huggingface dataset:
Although the EU Council will still decide , on the basis of a Commission proposal , whether a Member State can adopt the euro , the euro area countries will provide a recommendation prior to such a decision .
V letu 2007 je bilo odprtih pet poglavij -- o podjetniški in industrijski politiki , statistiki , finančnem nadzoru , vseevropskih omrežjih ter o varstvu potrošnikov in zdravja .
Similarly , decisions on non-compliance by euro area countries with the excessive deficit procedure and the Broad Economic Policy Guidelines will be taken only by euro area countries , and without the Member State concerned .
Institucije EU nadaljujejo pregled združljivosti turške zakonodaje s pravnim redom Evropskih skupnosti , potekajo pa tudi priprave na morebitno odpiranje drugih poglavij .
Finally , a new provision allows the euro area countries , by a qualified majority , to adopt new measures to
ECB je nadaljevala svoj dolgoletni dialog na visoki ravni o politikah s turško centralno banko , vključno z obiskom predsednika ECB v Ankari 1 .
1.3 DEVELOPMENTS IN AND RELATIONS WITH EU CANDIDATE COUNTRIES The ECB continued its cooperation with the central banks of the candidate countries with the aim of creating the conditions for a smooth monetary integration process in the EU , when institutional and economic conditions have been met . This cooperation developed in parallel with the overall institutional dialogue between the EU and these countries .
obletnici turške centralne banke . Razprave so bile osredotočene na novejša makroekonomska in finančna gibanja v Turčiji , na denarno politiko turške centralne banke ter na gospodarsko in denarno stanje v euroobmočju .
Accession negotiations with Croatia began in October 2005 . The opening of individual chapters of the acquis communautaire for negotiation started in June 2006 and proceeded smoothly in 2007 , with negotiations having been conducted on a substantial number of the 35 chapters by the end of the year .
Na zahtevo turške centralne banke je bila v letu 2007 zagotovljena tudi tehnična pomoč , med drugim na področju notranjih financ in plačilnih sistemov . Nekdanja jugoslovanska republika Makedonija je decembra 2005 dobila status države kandidatke .
The ECB continued to strengthen its bilateral relations with the Croatian National Bank , paying a staff visit to Zagreb in April 2007 and hosting its governor in Frankfurt for the annual high-level pre-accession dialogue in October 2007 . 168
Vendar se je Evropski svet odločil , da se pogajanja ne bodo začela , dokler ne bo izpolnjenih več pogojev , med drugim tudi učinkovito izvajanje stabilizacijsko-pridružitvenega priznanje Euroskupine , ki ohranja svoj trenutni neformalni status .
ECB Annual Report 2007
Okrepljena je tudi vloga držav euroobmočja .
After opening accession negotiations with Turkey in October 2005 , the European Commission started negotiations on the individual chapters of the acquis communautaire in June 2006 .
Čeprav bo o tem , ali država članica lahko uvede euro , še naprej odločal Svet EU na predlog Komisije , bodo države euroobmočja pred takim sklepom posredovale priporočilo .
In December 2006 the European Council decided to suspend talks for 8 out of the 35 chapters in the EU accession process , owing to the lack of progress in the extension of the customs union to the EU Member States .
Podobno bodo odločitve o neizpolnjevanju postopka v zvezi s čezmernim primanjkljajem in širših smernic ekonomske politike v kateri od držav članic euroobmočja sprejemale izključno države euroobmočja brez zadevne države članice .
Five chapters -- on enterprise and industrial policy , statistics , financial control , trans-European networks , and health and consumer protection -- were opened in the course of 2007 . The EU institutions are continuing to screen the compatibility of Turkish legislation with the acquis communautaire and preparations are under way for the possible opening of the other chapters .
Nova je tudi določba , ki državam euroobmočja omogoča , da s kvalificirano večino sprejmejo nove ukrepe za okrepitev koordinacije in nadzora proračunske discipline in da določijo posebne smernice ekonomske politike za države euroobmočja . ECB meni , da nova pogodba na splošno potrjuje trenutno ureditev EMU .
The ECB continued its long-standing high-level policy dialogue with the Central Bank of the Republic of Turkey , which included a visit of the President of the ECB to Ankara on 1 June 2007 , on the occasion of the 75th anniversary of the Turkish central bank . The discussions focused on recent macroeconomic and financial developments in Turkey , the monetary policy of the Central Bank of the Republic of Turkey , and the economic and monetary situation in the euro area .
ECB zato z veseljem pričakuje uspešen konec ratifikacijskega postopka . KONVERGENČNA POROČILA Na zahtevo Cipra in Malte sta ECB in Evropska komisija v skladu s členom 122 Pogodbe ES pripravili svoje konvergenčno poročilo o napredku navedenih držav pri izpolnjevanju pogojev za priključitev euroobmočju .
In the course of 2007 , technical assistance was also provided when requested by the Turkish central bank , for example in the areas of internal finance and payment systems .
maja 2007 , in predloga Komisije je Ekonomsko-finančni svet 10 . julija 2007 sprejel sklep , s katerim Cipru in Malti dovoljuje uvedbo eura kot svoje valute s 1 .
The former Yugoslav Republic of Macedonia was granted candidate status in December 2005 .
januarjem 2008 ( glej poglavje 3 ) . 1.3 DOGAJANJA V DRŽAVAH KANDIDATKAH IN ODNOSI Z NJIMI ECB je še naprej sodelovala s centralnimi bankami držav kandidatk pri ustvarjanju pogojev za nemoteno denarno povezovanje v EU , ko bodo izpolnjeni institucionalni in ekonomski pogoji .
However , the European Council decided that negotiations would not be opened until a number of conditions had been met , including the effective implementation of the Stabilisation and Association Agreement signed with the EU , and no exact date has yet been specified .
sporazuma , podpisanega z EU , zato natančen datum začetka pogajanj še ni bil določen .
The Commission closely monitors progress achieved , and while it acknowledged that steps in the right direction have been taken , it listed several areas for reform where efforts need to be increased .
Komisija pozorno spremlja doseženi napredek in priznava , da so bili storjeni koraki v pravo smer , vendar je navedla tudi več področij , na katerih je treba reformna prizadevanja okrepiti .
Contacts between the ECB and the National Bank of the Republic of Macedonia were intensified at the staff level .
Okrepili so se stiki med strokovnjaki ECB in narodne banke Makedonije .
2 INTERNATIONAL ISSUES 2.1 KEY DEVELOPMENTS IN THE INTERNATIONAL MONETARY AND FINANCIAL SYSTEM SURVEILLANCE OF MACROECONOMIC POLICIES IN THE GLOBAL ECONOMY Given the rapid pace of economic and financial integration , the global economic environment is becoming increasingly relevant for the conduct of economic policy in the euro area .
2 MEDNARODNA VPRAŠANJA 2.1 GLAVNA DOGAJANJA V MEDNARODNEM DENARNEM IN FINANČNEM SISTEMU SPREMLJANJE MAKROEKONOMSKIH POLITIK V SVETOVNEM GOSPODARSTVU Glede na hitro gospodarsko in finančno integracijo postaja svetovno gospodarsko okolje vse pomembnejše za vodenje ekonomske politike v euroobmočju .
As a result , the Eurosystem closely monitors and analyses macroeconomic policies and underlying developments in countries outside the euro area .
Eurosistem zato pozorno spremlja in analizira makroekonomske politike in osnovna gibanja v državah zunaj euroobmočja .
It also plays an important role in the process of international multilateral surveillance of macroeconomic policies , which takes place mainly at the meetings of international organisations such as the BIS , the IMF and the OECD , as well as in fora such as the G7 and G20 finance ministers and central bank governors .
Eurosistem ima tudi pomembno vlogo v mednarodnem večstranskem spremljanju makroekonomskih politik , ki poteka predvsem na zasedanjih mednarodnih organizacij , kot so BIS , MDS in OECD , ter v forumih , kot so srečanja finančnih ministrov in guvernerjev centralnih bank skupine G7 in G20 .
In relevant institutions and fora , the ECB has been granted either member status ( for example , in the G20 ) or observer status ( for example , at the IMF ) .
ECB ima v vseh pomembnih institucijah in forumih bodisi status članice ( na primer pri G20 ) ali opazovalke ( na primer pri MDS ) .
The ECB assesses international developments with a view to contributing to a stable macroeconomic environment and sound macroeconomic and financial policies .
ECB ocenjuje mednarodna gibanja z namenom , da bi prispevala k stabilnemu makroekonomskemu okolju ter vzdržni makroekonomski in finančni politiki .
The international economic environment in 2007 continued to be dominated by large global current account imbalances , with some adjustments taking place in the United States and oil-exporting countries .
V mednarodnem gospodarskem okolju je tudi leta 2007 prevladovalo vztrajno svetovno neravnovesje na tekočem računu , pri čemer je do določene prilagoditve prišlo v ZDA in v državah izvoznicah nafte .
2 In the United States , the current account deficit declined slightly to 5.7% of GDP , from 6.2% in 2006 , mainly reflecting a more balanced pattern of global demand growth and favourable exchange rate developments .
2 V ZDA se je primanjkljaj tekočega računa nekoliko znižal s 6,2% BDP v letu 2006 na 5,7% BDP , predvsem zaradi bolj uravnotežene rasti svetovnega povpraševanja in ugodnih gibanj menjalnih tečajev .
At the same time , the adjustments in the United States were not directly reflected in the current account positions of Asian economies , which continued to enjoy substantial surpluses , reaching around 6.1% of GDP on average compared with 5.3% in 2006 .
Hkrati pa se prilagoditev v ZDA ni neposredno odražala v stanju tekočega računa azijskih gospodarstev , ki so še naprej imela precejšnji presežek ( v povprečju 6,1% BDP v primerjavi s 5,3% leta 2006 ) .
In particular , current account surpluses widened to 11.7% in China and to 4.5% in Japan .
Presežek tekočega računa se je posebno povečal na Kitajskem ( na 11,7% ) in na Japonskem ( na 4,5% ) .
However , the oil-exporting economies -- also a major counterpart of the US current account deficit -- reduced their current account surpluses to 11.9% of GDP , from 16.1% in 2006 .
Vendar pa so države izvoznice nafte -- tudi ena od glavnih protipostavk primanjkljaja tekočega računa ZDA -- znižale svoj presežek tekočega računa s 16,1% BDP v letu 2006 na 11,9% .
Some Asian and oil-exporting economies continued to accumulate considerable amounts of foreign reserves . The accumulation of reserves continued to be particularly significant in the case of China , where foreign exchange reserves reached levels well above USD 1 trillion .
Nekatere azijske države in nekatere države izvoznice nafte so še naprej akumulirale velike količine deviznih rezerv . Akumulacija rezerv je bila posebno velika na Kitajskem , kjer so devizne rezerve krepko presegle 1 bilijon USD .
The increase in foreign exchange reserves in surplus economies contributed to a rise in the importance of sovereign wealth funds in global financial markets .
Povečanje deviznih rezerv v državah s presežkom je privedlo do večjega pomena državnih premoženjskih skladov na svetovnih finančnih trgih .
On various occasions , the Eurosystem continued to stress the risks and distortions related to the persistence of such imbalances .
Eurosistem je ob različnih priložnostih še naprej izpostavljal tveganja in izkrivljanja , povezana z vztrajnostjo takšnih neravnovesij .
It also confirmed its full support for a cooperative approach on this issue , whereby all affected economies implement the necessary policies to ensure an orderly adjustment of global imbalances .
Potrdil je tudi svojo polno podporo reševanju teh vprašanj na podlagi sodelovanja , kjer naj vse prizadete države izvajajo potrebne politike za zagotovitev obvladljive prilagoditve svetovnih neravnovesij .
A progressive and orderly adjustment of the imbalances would support and strengthen the prospects for global growth and stability .
Postopna in obvladljiva prilagoditev neravnovesij bi ohranila in okrepila možnosti za svetovno rast in stabilnost .
The international policy agenda includes policies aimed at increasing private and public savings in countries with current account deficits , urges implementation of further structural reforms in mature economies with relatively low potential growth , and stresses the need for an increase in domestic demand as well as for an improved capital allocation in emerging market economies .
Program mednarodne ekonomske politike vključuje politike za povečanje zasebnega in javnega varčevanja v državah s primanjkljajem tekočega računa , poziva k izvajanju nadaljnjih strukturnih reform v razvitih gospodarstvih z razmeroma nizko potencialno rastjo ter poudarja potrebo po povečanju domačega povpraševanja in boljši razporeditvi kapitala v nastajajočih tržnih gospodarstvih .
Since exchange rates should reflect economic fundamentals , exchange rate flexibility in major countries and regions that lack such flexibility remains a priority .
Ker naj bi bili menjalni tečaji odraz gospodarskih temeljev , ostaja prožnost tečajev prednostna naloga v pomembnejših državah in regijah , kjer te prožnosti ni .
In China , the move towards greater flexibility is desirable , and in view of its rising current account surplus and domestic inflation , there is still a need to allow for an accelerated appreciation of its effective exchange rate .
Premik k večji prožnosti je zaželen na Kitajskem , ob rasti njenega presežka tekočega računa in domače inflacije pa je še naprej potrebna hitrejša apreciacija efektivnega tečaja .
Overall , several developments and policy measures went in the right direction in 2007 , but further adjustments are still needed if global imbalances are to be significantly reduced .
Na splošno so se dogajanja in ukrepi politike leta 2007 gibali v pravo smer , vendar so za občutno zmanjšanje svetovnih neravnovesij potrebne nadaljnje prilagoditve . Razmere na svetovnih kreditnih trgih so se v drugi polovici leta 2007 poslabšale , saj je prevrednotenje kreditnega tveganja , povezano s trgom drugorazrednih hipotekarnih posojil v ZDA , povzročile vzpon donosov in motnje likvidnosti v segmentih medbančnega trga .
Global credit market conditions deteriorated in the second half of 2007 , as a repricing of credit risk related to strains in the US sub-prime mortgage market led to a spike in 2 2007 estimates in this section are based on the projections contained in the IMF 's September 2007 « World Economic Outlook » . 170
Čeprav so ta gibanja vplivala tudi na nastajajoča gospodarstva , je bil vpliv nanje precej manjši kot v preteklih svetovnih finančnih pretresih . Takšna odpornost je delno posledica izboljšanega okvira politike v teh državah , po drugi 2 Ocene za leto 2007 v tem razdelku temeljijo na napovedih iz publikacija MDS „World Economic Outlook » september 2007 .
ECB Annual Report 2007 yields and disruptions to liquidity conditions in segments of the interbank market .
166 ECB Letno poročilo 2007
While emerging economies were also affected by these developments , the impact there was far less severe than in previous episodes of global financial turbulence . This resilience partly reflects the improved policy frameworks in these countries , although an additional explanation is that the financial turbulence was rooted in markets for innovative credit instruments that are less widespread in emerging economies than in mature economies with developed financial systems .
strani pa so se finančni pretresi pojavljali na trgih z inovativnimi kreditnimi instrumenti , ki so v nastajajočih gospodarstvih manj razširjeni kot v razvitih gospodarstvih z razvitim finančnim sistemom . V okviru dejavnosti spremljanja mednarodne politike je v pregled vključeno tudi euroobmočje .
Finally , the euro area itself is subject to international policy surveillance exercises . In 2007 both the IMF and the OECD 's Economic and Development Review Committee conducted their regular reviews of the monetary , financial and economic policies of the euro area , as a complement to their reviews of the individual euro area countries .
Tako sta MDS in Odbor za analizo gospodarstva in razvoja pri OECD v letu 2007 poleg pregleda posameznih držav euroobmočja izvajala tudi redni pregled denarne , finančne in ekonomske politike euroobmočja . Posvetovanja MDS po IV .
The Article IV consultations of the IMF and the review by the OECD 's Economic and Development Review Committee provided an opportunity for useful discussions between these international organisations and the ECB , the Eurogroup presidency and the European Commission .
členu Statuta MDS in pregled , ki ga je opravil Odbor za analizo gospodarstva in razvoja v okviru OECD , so omogočili plodno izmenjavo stališč med tema mednarodnima organizacijama ter ECB , predsedstvom Euroskupine in Evropsko komisijo .
Following these discussions , both the IMF and the OECD produced individual reports assessing euro area policies .
Po opravljenih razpravah sta MDS in OECD oblikovala posamezna poročila o oceni politik euroobmočja .
3 The euro area also participated in the IMF 's first multilateral consultation exercise , which focused on global imbalances ( see the next section for more details ) .
3 Euroobmočje je sodelovalo tudi pri prvem večstranskem posvetovanju MDS , ki je bilo osredotočeno na svetovna neravnovesja ( več podrobnosti je navedenih v naslednjem razdelku ) .
INTERNATIONAL FINANCIAL ARCHITECTURE Efforts to reform the IMF in line with its medium-term strategy continued over the year .
MEDNARODNA FINANČNA ARHITEKTURA Prizadevanja za reformo MDS v skladu z njegovo srednjeročno strategijo so se leta 2007 nadaljevala .
Progress on the various initiatives proceeded at different speeds , with the most notable achievement being the introduction of a new decision on bilateral surveillance .
Napredek na področju posameznih pobud je potekal različno , največji dosežek pa je bila uvedba novega sklepa o dvostranskem spremljanju .
4 Other key reform areas included governance of the IMF ( quotas and voice ) , the income and expenditure framework of the Fund , and the Fund 's role in emerging market economies .
4 Druga ključna reformna področja so obsegala upravljanje MDS ( kvote in glasovanje ) , okvir prihodkov in odhodkov sklada ter vloga sklada v nastajajočih tržnih gospodarstvih .
Agreement on these issues is pursued through discussions both inside the IMF and in other fora , such as the G7 and G20 , and the ESCB plays its part by monitoring and contributing to the discussions on these issues as appropriate .
Dogovor o teh vprašanjih poteka prek razprav v MDS in v drugih forumih , kot sta G7 in G20 , ESCB pa po potrebi prispeva svoj delež s spremljanjem in razpravami o teh vprašanjih .
One of the main recent achievements of the IMF has been an improvement in surveillance .
Eden glavnih dosežkov MDS v zadnjem času je bilo izboljšanje spremljanja .
A new decision on bilateral surveillance over members » policies was introduced in mid-2007 to replace the existing 30-year-old surveillance decision and to improve clarity , candour , even-handedness and accountability .
Novi sklep o dvostranskem spremljanju politik članic je bil uveden sredi leta 2007 in je nadomestil obstoječi trideset let star sklep in izboljšal jasnost , nepristranskost , enakopravnost in odgovornost .
The new decision seeks to pay greater attention to cross-country spillovers by employing external stability as the organising principle for surveillance .
Novi sklep naj bi z uporabo zunanje stabilnosti kot organizacijskega načela spremljanja omogočal večjo pozornost čezmejnim učinkom .
External stability is defined with reference to the exchange rate , the analysis of which consequently becomes a key component of the surveillance process .
Zunanja stabilnost je opredeljena z menjalnim tečajem , zato je analiza tečaja ključna sestavina procesa spremljanja .
Owing to the single currency of the euro area , external stability for the euro area is to be assessed at the level of the euro area as a whole , while bilateral country surveillance , focusing on the national policies of individual Member States , remains important also in this context .
Zaradi skupne valute euroobmočja je treba zunanjo stabilnost euroobmočja ocenjevati na ravni celotnega euroobmočja , medtem ko ostaja dvostransko spremljanje držav , ki se osredotoča na nacionalne politike posameznih držav članic , pomembno tudi v tem okviru .
Efforts are now under way to ensure the effective implementation of the new decision , taking into account the technical and conceptual challenges .
Trenutno potekajo prizadevanja za zagotovitev učinkovitega izvajanja novega sklepa ob upoštevanju tehničnih in konceptualnih težav .
In addition , the first multilateral consultation process advanced to the monitoring stage .
Poleg tega je prvo večstransko posvetovanje napredovalo do faze spremljanja .
Multilateral consultations are a new approach to surveillance that aim to bring together key parties in a confidential setting for a frank dialogue in order to facilitate appropriate policy action on problems of systemic or regional importance .
Večstranska posvetovanja predstavljajo nov pristop k spremljanju , katerih cilj je pritegniti ključne strani k dialogu v zaupnem okolju z namenom , da bi pospešili ustrezne ukrepe politike v zvezi s sistemsko ali regionalno pomembnimi problemi .
The first multilateral consultation sought to address global imbalances and involved China , the euro area , Japan , Saudi Arabia and the United States .
Prvo večstransko posvetovanje je obravnavalo svetovna neravnovesja , pri njem pa so sodelovali Kitajska , euroobmočje , Japonska , Savdska Arabija in ZDA .
The forum served as a useful platform to exchange ideas and views on the causes of and solutions to the imbalances .
Forum je bil koristna platforma za izmenjavo idej in pogledov o vzrokih in rešitvah za neravnovesja .
The emphasis has now shifted from dialogue to policy implementation and IMF staff are monitoring progress and communicating their findings in bilateral and multilateral reports .
Poudarek se je tako preusmeril z dialoga na izvajanje politik , strokovnjaki MDS pa spremljajo napredek in sporočajo svoje ugotovitve v dvostranskih in večstranskih poročilih . Napredek je bil dosežen tudi pri drugih elementih srednjeročne strategije .
3 « Euro area policies : 2007 Article IV consultation -- staff report » , IMF , July 2007 , and « Economic survey of the euro area » , OECD , January 2007 .
Dogovor o glavnih elementih tega sklopa naj bi bil po pričakovanjih dosežen do spomladanskega zase3 „Euro area policies : 2007 Article IV consultation -- staff report » MDS , julij 2007 , in „Economic survey of the euro area » OECD , januar 2007 .
The Executive Board decision on bilateral surveillance over members » policies adopted on 15 June 2007 replaces the 1977 decision on surveillance over exchange rate policies .
Sklep izvršilnega odbora o dvostranskem spremljanju politik članic ( bilateral surveillance over members » policies ) , ki je bil sprejet 15 . junija 2007 , nadomešča sklep iz leta 1977 o spremljanju tečajne politike ( surveillance over exchange rate policies ) .
ECB Annual Report 2007 171
ECB Letno poročilo 2007
Agreement on the main elements of the package is expected to be achieved by the 2008 Spring Meetings .
danja leta 2008 .
Efforts are also under way to put the institution on a sounder financial footing .
Potekajo tudi prizadevanja , da bi institucija dobila trdnejšo finančno podlago .
On the income side , the recommendations made in the report by the Committee of Eminent Persons ( a body appointed to study the sustainable long-term financing of the IMF ) provide the basis for specific proposals .
Na strani prihodkov predstavljajo priporočila iz poročila Odbora uglednih osebnosti ( organ , ki je bil imenovan , da preuči vzdržno dolgoročno financiranje MDS ) osnovo za konkretnejše predloge .