natgillin/translations-raw huggingface dataset:
These were produced as from the very first crisis-related BOP transaction in December 2008 and were made available to the Court. 
Ta obvestila so se pripravljala od prve transakcije decembra 2008 v okviru plačilnobilančnega mehanizma, ki je bila povezana s krizo.
122 The Court considered whether the level of pricing on the trade date was justified simply by comparing it to the initial price guidance given by banks in their proposals, without taking due account of the market developments in between these two dates. 
122 Sodišče je preučilo, ali je bila cenovna raven na datum sklenitve posla utemeljena zgolj na podlagi primerjave s prvotnimi smernicami glede določitve cen, ki so jih banke navedle v svojih predlogih, ne da bi se ustrezno upoštevalo dogajanje na trgu med tema dvema datumoma.
There was a time span of 14 and 23 days, respectively, between the initial price guidance and the trade dates. 
Med prvotnimi smernicami glede določitve cen in datumi sklenitve poslov je v enem primeru preteklo 14 in v drugem 23 dni.
Deviations from the initial price guidance are inherent to the process in general, and in particular in case of such a long time span. 
Za ta postopek so na splošno značilna odstopanja od prvotnih smernic glede določitve cen, zlasti ko gre za tako dolg časovni razmik.
This observation should be seen in light of the Court’s observation in paragraph 118 that ‘The final cost of debt was in line with the market and peer levels’. 
To ugotovitev je treba obravnavati glede na ugotovitev Sodišča v odstavku 118, da je bil „[k]ončni strošek dolga [...] v skladu s trgom in ravnmi drugih udeležencev“.
123 The Commission points out that the weaknesses identified referred to the period until 2010 only and were limited to documentation issues. They did not refer to the debt management process itself. 
123 Komisija poudarja, da so se ugotovljene pomanjkljivosti nanašale samo na obdobje do leta 2010 in bile omejene na izdaje dokumentacije ter se niso nanašale na sam postopek upravljanja dolga.
Reply of the Commission 107 The Commission recognises that there were some shortcomings in the documentation of the borrowing process in the initial years, but the process was properly managed and did not impact the outcome. 
Komisija priznava, da so bile v prvih letih določene pomanjkljivosti v dokumentaciji v zvezi s postopkom najemanja posojil, vendar se je postopek ustrezno upravljal in ni vplival na rezultat.
The Commission considers that in the initial years the selection of lead banks was competitive, even though not fully documented. 
Komisija meni, da je bila v prvih letih izbira vodilnih bank konkurenčna, čeprav ni bila v celoti dokumentirana.
With regard to precautions against the disclosure of non-public material or insider information, the Commission complies with existing rules and regulations and with market practice when carrying out funding operations. 
Kar zadeva previdnostne ukrepe glede razkritja gradiva ali notranjih informacij, ki niso javnega značaja, Komisija pri izvajanju operacij financiranja ravna v skladu z veljavnimi pravili in predpisi ter tržno prakso.
Furthermore, the banks involved in funding transactions are subject to national securities regulations, including rules on the prevention of insider trading, which provides additional assurance to the Commission. 
Poleg tega za banke, vključene v transakcije financiranja, veljajo nacionalni predpisi v zvezi z vrednostnimi papirji, vključno s pravili o preprečevanju trgovanja na podlagi notranjih informacij, kar Komisiji daje dodatna zagotovila.
The allocation strategy is discussed with the lead managing banks beforehand and a standard approach is applied, in line with market practice. 
Z vodilnimi bankami za upravljanje se predhodno razpravlja o strategiji dodeljevanja in uporablja se standardni pristop v skladu s tržno prakso.
The allocation rules are therefore entirely clear to all parties involved. 
Pravila za dodeljevanje so zato popolnoma jasna vsem vključenim stranem.
The final allocation is decided by the Commission. 
O končni dodelitvi odloči Komisija.
The monitoring of the secondary market activities was formalised by the Commission in 2012. 
Komisija je leta 2012 formalno uredila spremljanje dejavnosti na sekundarnem trgu.
The level of bid-offer spreads depends on a number of different parameters. 
Velikost razlik med nakupno in prodajno ceno je odvisna od številnih parametrov.
127 The Commission had to perform the borrowing operations under exceptionally difficult circumstances. 
127 Komisija je morala dejavnosti zadolževanja izvajati v izredno težkih okoliščinah.
Despite this, it successfully managed the debt issuances in accordance with market practices. 
Kljub temu je uspešno upravljala izdajanje dolžniških instrumentov v skladu s tržnimi praksami.
128 While the Commission acknowledges that the procedure manual was updated over time, the process was clearly documented from the start in separate notes. 
128 Komisija sicer priznava, da je bil priročnik za postopke sčasoma posodobljen, vendar je bil postopek od začetka jasno dokumentiran v ločenih obvestilih.
The Commission points out that the improved quality of documentation applies as from January 2011. 
Poudarja, da se izboljšana kakovost dokumentacije uporablja od januarja 2011.
At the time of drafting of the Court’s report it had been in place for more than 4 years and was used for all EFSM transactions, which represent the majority of operations both in number and amount. 
V času priprave poročila Sodišča je bila vzpostavljena že več kot štiri leta in se je uporabljala za vse transakcije EFSM, ki po številu in obsegu tvorijo večino operacij.
Reply of the Commission 108 136 The fact that bid-offer spreads vary between banks is normal, especially considering the number of market participants. 
Odgovori Komisije 108 136 Običajno je, da se razlike med nakupno in prodajno ceno razlikujejo med bankami, zlasti glede na število udeležencev na trgu.
138 The financing gap estimated at programme inception is not a plan. 
138 Finančna vrzel, ocenjena na začetku izvajanja programa, ni načrt.
It represents an estimate of the financing needs to be met during the programme, with a buffer built in — in some cases explicitly — reflecting the inherent uncertainty in these estimates. 
To je ocena potreb po financiranju, ki jih je treba izpolniti med programom, z vgrajenim blažilcem, ki (v nekaterih primerih jasno) izraža značilno negotovost teh ocen.
The buffer serves to ensure that there is sufficient financing under worse than expected outcomes and to generate investor confidence and support the economic recovery process. 
Blažilec zagotavlja zadostno financiranje, če so rezultati slabši od pričakovanih, in ustvarja zaupanje vlagateljev ter podpira proces oživitve gospodarstva.
139 The safety margins included in early programmes, designed in the wake of the Lehman collapse, reflect the scale of the perceived uncertainty at the time and the need to ensure that the funding envelope would turn out to be sufficient. 
139 Varnostne rezerve, ki so jih vključevali zgodnji programi, zasnovani po propadu družbe Lehman Brothers, izražajo lestvico zaznane negotovosti v tistem času in potrebo po zagotovitvi, da bi se finančna sredstva izkazala za zadostna.
Banking sector needs are particularly difficult to predict, leading to a need for a substantial contingency reserve for countries like Ireland with significant banking sector difficulties. 
Potrebe bančnega sektorja je še posebno težko predvideti, kar ustvarja potrebo po znatni varnostni rezervi za nepredvidene stroške za države, kot je Irska, ki se spopada z velikimi težavami v bančnem sektorju.
The financing envelope needed to be large enough to account for this uncertainty and to reassure markets that all needs were covered. 
Finančna sredstva so morala biti dovolj velika, da so pokrila to negotovost in pomirila trge z zagotovitvijo, da so pokrite vse potrebe.
It is therefore to be expected that, unless adverse developments materialise, funding needs should come in below the envelope. 
Zato se lahko pričakuje, razen v primeru neugodnega razvoja dogodkov, da bodo potrebe po financiranju manjše od zagotovljenih finančnih sredstev.
139 (iv) The repayment of the IMF loans before their due date relates to the success of the countries — and by extension the programmes — in being able to access the markets at cheap enough rates to make the early repayment politically and financially advantageous. 
139 (iv) Vrnitev posojil MDS pred datumom zapadlosti je povezana s tem, kako uspešne so države – in s tem programi – pri dostopanju do trgov po dovolj ugodnih stopnjah, ki omogočajo politično in finančno ugodno predčasno vračilo.
Linking the early repayment to lower financing needs requires a number of assumptions which may or may not hold. 
Za povezovanje predčasnega vračila z manjšimi potrebami po financiranju se zahteva več predpostavk, ki lahko držijo ali ne.
Moreover, as indicated elsewhere, programme funding included safety margins as a signal to markets and were instrumental to the success of the programmes. 
Poleg tega so programska finančna sredstva, kot je navedeno drugje, vključevala varnostne rezerve, ki so pomenile sporočilo za trge in so prispevale k uspešnosti programov.
140 It should be noted that Portugal did not fully use all the financial assistance available under the programme, and that it ended the programme with a substantial Treasury buffer. 
140 Poudariti je treba, da Portugalska ni v celoti uporabila vse finančne pomoči, ki je bila na voljo v okviru programa, in da je program zaključila z znatno rezervo v državni blagajni.
The easing of monetary conditions is also true for the Irish programme. 
Sprostitev monetarnih pogojev velja tudi za irski program.
141 During the programme the IMF disbursements were normally made to the central bank to constitute foreign currency reserves, while the Commission disbursements were made to the Ministry of Finance to finance the budget. 
141 Med programom so se izplačila MDS običajno izvedla centralni banki za oblikovanje deviznih rezerv, medtem ko so se izplačila EK izvedla ministrstvu za finance za financiranje proračuna.
In 2010 some IMF disbursements were also made to the Ministry of Finance for the budget. 
V letu 2010 se je nekaj izplačil MDS izvedlo tudi ministrstvu za finance za financiranje proračuna.
The reason was that the budget deficit was higher than originally expected because of lower growth and policy slippages, while the reserves at the central bank were at an adequate level. 
Proračunski primanjkljaj je bil namreč večji od prvotno pričakovanega zaradi nižje rasti in odstopanj v politiki, medtem ko so bile rezerve v centralni banki na ustrezni ravni.
From this, however, one cannot infer that the central bank indirectly covered some of the government’s additional financing needs. 
Vendar iz tega ni mogoče sklepati, da je centralna banka posredno pokrila nekatere dodatne potrebe vlade po financiranju.
The government managed to service and refinance all of its debt obligations during the programme. 
Vlada je med programom uspela servisirati in obnoviti vse svoje obveznosti v zvezi z dolgovi.
Monetary policy, which is an exclusive competence of the independent central bank, naturally also affects domestic financing conditions. 
Na domače pogoje financiranja seveda vpliva tudi monetarna politika, ki je v izključni pristojnosti neodvisne centralne banke.
This, however, should not be seen as indirect support. 
Vendar se to ne bi smelo obravnavati kot posredna podpora.
146 The statement on Hungary does not take into account the increased absorption of EU funds. 
146 V izjavi o Madžarski ni upoštevana povečana absorpcija sredstev EU.
147 It is important to separate out conceptually the revenue increasing impact of new measures from the reduction in revenues due to falls in economic activity. 
147 Konceptualno je treba razlikovati med učinkom novih ukrepov na povečanje prihodkov in zmanjšanjem prihodkov zaradi zmanjšanja gospodarske dejavnosti.
The actual impact of a tax reform cannot be judged by looking at the overall performance of revenues in an economy. 
Dejanskega učinka davčne reforme ni mogoče oceniti na podlagi splošne uspešnosti prihodkov v gospodarstvu.
Reply of the Commission 109 148 Not all legislative acts referred to introduced changes which affect the tax-to-GDP ratio and not all of them relate to the BoP programme conditionality. 
Odgovori Komisije 109 148 Vsi zakonodajni akti se niso nanašali na uvedene spremembe, ki vplivajo na delež davkov v razmerju do BDP, niti niso vsi povezani s pogoji plačilnobilančnega programa.
The motivations for their introduction were complex. 
Razlogi za njihovo uvedbo so bili kompleksni.
Common Commission reply to paragraphs 150 and 151 The change in the structural balance is affected not just by the targets set and the policy choices made to meet these targets, but also by a wider range of factors outside the control of the government relating to the external environment. 
Skupen odgovor Komisije na odstavka 150 in 151 Na spremembo v strukturnem saldu ne vplivajo le zastavljeni cilji in izbire politike za izpolnitev teh ciljev, temveč tudi različni dejavniki zunaj nadzora vlade, povezani z zunanjim okoljem.
These include inflation rates, the composition of growth and market sentiment affecting borrowing costs, as well as ex post data revisions. 
Ti vključujejo stopnje inflacije, sestavo rasti, tržna pričakovanja, ki vplivajo na stroške posojil, ter naknadne revizije podatkov.
In addition, in setting the targets, country-specific considerations going beyond the relationships set out below were taken into consideration. 
Poleg tega so se pri določanju ciljev upoštevali premisleki v zvezi z vsako posamezno državo, ki presegajo spodaj opisane povezave.
Therefore, the relationships between the variables mentioned in paragraphs 150 and 151 are of a complex nature. 
Povezave med spremenljivkami, navedenimi v odstavkih 150 in 151, so torej zapletene.
As a consequence, country benchmarking on the basis of these relationships may not be revealing in terms of challenges faced before the programme or outcomes afterward. 
Primerjalna analiza držav na podlagi teh povezav zato morda ne pokaže veliko v smislu izzivov, ki se pojavijo pred programom, ali poznejših rezultatov.
While in general a weaker initial fiscal position warrants a faster pace of consolidation, this factor should not be seen in isolation from other, sometimes country-specific, factors affecting the fiscal imbalances which needed to be corrected. 
Čeprav slabši začetni javnofinančni položaj na splošno pomeni hitrejšo konsolidacijo, se ta dejavnik ne bi smel obravnavati ločeno od drugih, včasih za posamezno državo značilnih dejavnikov, ki vplivajo na javnofinančna neravnovesja, ki jih je treba popraviti.
It is also to be noted that the period of time granted by the Council for the correction of the excessive deficit (with the underlying recommended structural effort) may not coincide with the programme period. 
Poudariti je treba tudi, da obdobje, ki ga je Svet določil za odpravo čezmernega primanjkljaja (vključno z osnovnimi priporočenimi strukturnimi prizadevanji), ne sme sovpadati s programskim obdobjem.
152 The fiscal effort set out in the programmes was determined on the basis of a wide range of factors. 
152 Javnofinančna prizadevanja, določena v programih, so bila opredeljena na podlagi najrazličnejših dejavnikov.
The initial level of debt was taken into account, but other country-specific factors were also important. 
Upoštevana je bila prvotna raven dolga, pomembni pa so bili tudi drugi dejavniki, značilni za posamezno državo.
As a middle-income non-euro area economy, Romania is more vulnerable to its public debt level than higher-income euro area countries. 
Romunija je kot gospodarstvo zunaj euroobmočja s srednjimi prihodki bolj občutljiva na raven javnega dolga kot države v euroobmočju z večjimi prihodki.
At the time of programme approval, interest rates on Romania’s public debt had increased by 300 bps, suggesting doubts in international financial markets about the country’s sovereign financing position. 
V času odobritve programa se je obrestna mera na javni dolg Romunije povišala za 300 bazičnih točk, kar na mednarodnih finančnih trgih vzbuja dvom glede stanja te države na področju javnega financiranja.
153 While temporary fiscal measures do not represent a permanent change in the underlying fiscal balance, they can have a permanent impact on the level of the debt stock and thereby improve or deteriorate its long-run sustainability. 
153 Čeprav začasni javnofinančni ukrepi ne pomenijo trajne spremembe v osnovnem javnofinančnem saldu, lahko trajno vplivajo na višino dolga ter posledično izboljšajo ali poslabšajo njegovo dolgoročno vzdržnost.
Not all temporary measures in the programme years were introduced to meet deficit targets. 
Vsi začasni ukrepi v programskih letih niso bili uvedeni za izpolnitev ciljev glede primanjkljaja.
In some instances temporary or one-off measures were necessary (such as bank support measures), or were beyond the control of the government (such as Court decisions). 
V nekaterih primerih so bili začasni ali enkratni ukrepi nujni (kot so ukrepi za podporo bankam) ali pa so bili zunaj nadzora vlade (kot so sodne odločbe).
Temporary measures eventually had to be replaced by structural measures to ensure that targets continue to be met. 
Začasne ukrepe je bilo treba sčasoma zamenjati s strukturnimi ukrepi, da se zagotovi nadaljnje izpolnjevanje ciljev.
The fiscal surveillance framework in the EU makes the important distinction between the headline fiscal balance (which includes one-off measures) and the structural balance, which measures the permanent fiscal effort (excluding one-off measures). 
V okviru za javnofinančni nadzor v EU obstaja pomembno razlikovanje med nominalnim javnofinančnim saldom (ki vključuje enkratne ukrepe) in strukturnim saldom, ki meri stalna javnofinančna prizadevanja (brez enkratnih ukrepov).
This is the reason why countries with an excessive deficit are not only recommended to correct it in nominal terms (i.e. to bring the deficit below the treaty threshold of 3 % of GDP), but are also recommended a specific structural effort consistent with reaching the nominal target. 
Zato se državam s čezmernim primanjkljajem priporoča, da ga odpravijo v nominalnem smislu (tj. da primanjkljaj znižajo pod prag 3 % BDP, določen v Pogodbi) ter da izvedejo tudi posebna strukturna prizadevanja za doseganje nominalnega cilja.
Therefore, the mere existence of one-off and temporary measures is not automatically contradictory to a sustainable correction of the excessive deficit. 
Obstoj enkratnih ali začasnih ukrepov zato sam po sebi ne pomeni, da je to v nasprotju s trajnostno odpravo čezmernega primanjkljaja.
153 (i) It should be added that Portugal also faced one-off expenditure-increasing measures amounting to 2.8% of GDP in 2010 and to 0.6% of GDP in 2011. 
153 (i) Dodati je treba, da se je Portugalska spopadla tudi z enkratnimi ukrepi, ki povečujejo odhodke, ki so leta 2010 znašali 2,8 %, leta 2011 pa 0,6 % BDP.
Reply of the Commission 110 153 (iii) The excessive deficit procedure for Romania was abrogated in June 2013, based on 2012 out-turn data. 
Odgovori Komisije 110 153 (iii) Postopek v zvezi s čezmernim primanjkljajem za Romunijo je bil odpravljen junija 2013 na podlagi podatkov o rezultatih za leto 2012.
An important condition for the abrogation of any excessive deficit procedure is the sustainability of the correction, meaning that the deficit has to remain credibly below the 3 % of GDP threshold during the forecast horizon of the relevant Commission forecast. 
Pomemben pogoj za odpravo katerega koli postopka v zvezi s čezmernim primanjkljajem je trajnost odprave primanjkljaja, kar pomeni, da mora primanjkljaj v celotnem obdobju zadevne napovedi Komisije verodostojno ostati pod pragom 3 % BDP.
In turn, the forecast is based on measures credibly announced by the government and specified in sufficient detail. 
Taka napoved temelji na ukrepih, ki jih vlade verodostojno objavijo in ki so dovolj podrobno predstavljeni.
153 (iv) The primary motivation for the liability guarantee in Ireland was not as a revenue-generating measure. 
153 (iv) Glavni razlog za jamstvo za odgovornost na Irskem ni bil oblikovati ukrep, ki ustvarja prihodek.
155 The Commission considers that it is not meaningful to compare IMF and Commission figures on compliance with conditions at the end of the programme, because the two institutions assess them against different benchmarks. 
155 Komisija meni, da ni smiselno primerjati podatkov MDS in Komisije glede izpolnjevanja pogojev ob koncu programa, ker jih ti instituciji ocenjujeta na podlagi različnih referenčnih meril.
Some deadlines were initially set very ambitiously to encourage implementation, but were later adjusted to be as the programme evolved. 
Nekateri roki so bili prvotno zelo ambiciozno zastavljeni, da se spodbudi izvajanje, vendar so bili pozneje prilagojeni glede na izvajanje programa.
158 In the Commission’s view the concept used by the Court of ‘structural content’ is not a meaningful metric for analysing policy measures and drawing conclusions about their importance. 
158 Po mnenju Komisije pojem „strukturna vsebina“, ki ga uporablja Sodišče, ni smiselna metrika za analizo ukrepov politike in oblikovanje sklepov o njihovi pomembnosti.
Conditions that require more intermediate steps (and are therefore classified by the Court as having ‘low structural content’) may be at least as important as conditions that are more straightforward to implement. 
Pogoji, ki zahtevajo več vmesnih korakov (in jih je zato Sodišče opredelilo kot pogoje z „malo strukturne vsebine“), so lahko vsaj tako pomembni kot pogoji, ki se izvajajo bolj neposredno.
The classification used regarding the structural content of the conditions does not capture the essence and the importance of individual conditions. 
Razvrstitev, ki se uporablja v zvezi s strukturno vsebino pogojev, ne zajema bistva in pomena posameznih pogojev.
Many of the most critical structural reforms will require intermediate stages such as reviews or consultations (classed as ‘low structural content’) before the reform is finally put into law and implemented. 
Za veliko najpomembnejših strukturnih reform bodo potrebni vmesni koraki, kot so pregledi ali posvetovanja (razvrščeni v kategorijo „malo strukturne vsebine“), preden je reforma dokončno uzakonjena in se začne izvajati.
The classification used by the Court of ‘high structural content’ is therefore not synonymous with ‘important’. 
Kategorija „malo strukturne vsebine“, ki jo uporablja Sodišče, torej ni sopomenka izrazu „pomembno“.
160 (iii) For certain reforms, the desired effect will only materialise in the longer run, after the end of the programme. 
160 (iii) Za nekatere reforme se bo želeni učinek uresničil šele dolgoročno po koncu programa.
161 The reference to the Hungarian case for reform reversal (public-sector wage cut) seems to be inappropriate as the most significant savings measure in this field (abolition of the 13th month wage) remained intact. 
161 Sklicevanje na madžarski primer v zvezi s preklicem reforme (zniževanje plač v javnem sektorju) se zdi neprimerno, ker je najpomembnejši ukrep varčevanja na tem področju (ukinitev 13. plače) ostal nespremenjen.
Explicit reversals were observable in the areas of child allowances and fiscal governance. 
Jasni preklici so bili opazni na področju otroških dodatkov in fiskalnega upravljanja.
164 See Commission reply to Box 10. 
164 Glej odgovor Komisije na okvir 10.
Box 10 First alinea In Hungary the low interest from the banking sector side was also explained by the eventual success of the coordination efforts with western European parent banks, which could not be known at the time of the launch of the programme and the design of the bank support package. 
Okvir 10, prva alinea Na Madžarskem je bila nizka stopnja zanimanja s strani bančnega sektorja pojasnjena tudi s končnim uspehom usklajevalnih prizadevanj s partnerskimi bankami iz zahodne Evrope, ki ga ni bilo mogoče predvideti v času začetka izvajanja programa in oblikovanja svežnja za podporo bankam.