natgillin/translations-raw huggingface dataset:
Tudi pri tem poskusih usklajevanja so omejitve:
But even with these attempts at coordination the limits are apparent:
– manjka enotna konceptualna, strokovna in politična podlaga, ki jo sprejemalo vse države euro območja.
- There is no uniform conceptual, technical or political basis which is accepted by all of the countries in the euro area.
To velja zlasti za temeljna vprašanja, na primer v mednarodnih vprašanjih v zvezi s finančnim trgom ali o gospodarsko-političnih strategijah za nove industrializirane države in države v razvoju.
This is particularly true in the case of matters of principle, for example in international financial market issues or economic policy strategies for emerging and developing countries.
Različne zunanjepolitične prednostne naloge držav članic in zgodovinske vezi dodatno otežujejo uskladitev.
Different foreign policy priorities among Member States and historical ties also make coordination difficult.
Zato so dogovori pogosto možni le na najmanjšem skupnem imenovalcu;
For that reason understandings are often only possible on the lowest common denominator.
– razen pri denarni politiki imajo končno odgovornost za postavitev nacionalni organi, ki – dokler stvari zadevajo MDS – nosijo materialno odgovornost za kvote MDS, torej za finančne prispevke MDS, in so odgovorni nacionalnim parlamentom;
- Beyond monetary policy ultimate responsibility for positioning rests with the national authorities which – if the IMF is concerned – bear financial responsibility for IMF quotas, i.e. for IMF financial contributions, and are accountable for them to their national parliaments.
– kratkoročna obravnava in množica tem v mednarodnih finančnih ustanovah in v neuradnih mednarodnih odborih, pogosto preobremenjujejo evropske možnosti in zmogljivosti usklajevanja.
- Consideration at short notice and the diversity of topics in international financial institutions and in informal international committees often overtax Europe’s scope and capacity for coordination.
Če želimo občutno mednarodno okrepiti vpliv euro območja, menim, da je to možno le z dodatnimi ukrepi k političnemu povezovanju.
If the influence of the euro area is to be significantly strengthened in the international arena it is my belief that this will be possible only by making further progress in the direction of political integration.
Le potem bo mogoče razviti prepričljiva vsebinska stališča o tehničnih vprašanjih.
Only then will it be possible to develop convincing positions regarding technical issues.
Dokler se to ne zgodi, bodo prizadevanja za uskladitev – ne glede na njihovo intenzivnost – nekakovostna in nesoglasje glede vsebine bodo nadomestili birokratski postopki usklajevanja.
Unless this happens all efforts at coordination – however intensive they may be – will be half measures and a lack of agreement on substance will give way to bureaucratic coordination processes.
Mednarodna finančna stabilnost se danes bistveno bolj upošteva kot pred približno desetimi leti.
Today international financial stability attracts considerably more attention than it did only 10 years ago.
Menim, da smo se iz finančnih kriz v devetdesetih letih naučili nekaj pomembnih stvari.
I believe that some important lessons were learnt from the financial crises of the 1990s.
K temu v prvi vrsti spada to, da se danes v mnogih novih industrializiranih državah vodi boljša makroekonomska politika in da se upoštevajo mednarodni finančni standardi.
At the head of these is the fact that today a more effective macroeconomic policy is pursued in many emerging countries and international financial standards are observed.
Ta razvoj podpira posebno spremljanje gospodarske politike in finančnih sistemov v okviru foruma za finančno stabilnost (FSF) in Mednarodnega denarnega sklada s strani FSAP in ROSC.
This trend is supported by the specific supervision of economic policy and financial systems in the context of the Financial Stability Forum (FSF) and the International Monetary Fund by the FSAP and the ROSC.
MDS je razen tega z višjo stopnjo preglednosti in spremembo svoje politike dostopa udeležencem na trgu pokazal pomembno pot, ki lahko pripelje zmanjšanje obstoja moralnega tveganja.
The IMF has also given important signals to market participants in the form of a greater degree of transparency and a revision of its access policy, and this may result in a reduction in moral hazard behaviour.
Ne sme se spregledati, da je okrevanje po finančnih krizah v devetdesetih letih potekalo v okolju nadvse bogate mednarodne dokapitalizacije in najnižjih obresti (kratko ročnih in dolgoročnih) v zgodovini.
It should not be overlooked that recovery from the financial crises of the 1990s took place in an environment which enjoyed an extremely generous international supply of liquidities and historically unparalleled low interest rates (short- and long-term).
Kateri so konkretni prispevki novih forumov – kot na primer tudi skupina G20 – in novih instrumentov spremljanja za izboljšanje mednarodne finančne stabilnosti, je težko oceniti in nemogoče izmeriti.
It is not easy to assess and impossible to measure the real contribution which new forums such as G20 and new supervisory instruments make to an improvement in international financial stability.
Odločilno je, da so pravilno usmerjeni, da jih zadevne države pozitivno sprejmejo in da so se do zdaj ohranili.
But it is crucial that they are aimed in the right direction, have been received positively by the countries concerned and have so far proved themselves.
Kakšno odgovornost in vlogo bi morala pri finančni stabilnosti imeti ECB?
Which responsibility and role should the ECB have concerning financial stability?
Odgovornost in vloga ESCB – torej ECB in nacionalnih centralnih bank – na področju finančne stabilnosti izhajata iz nalog, ki jih dodeljujeta PES in Statut ESCB ECB:
The responsibility and role of the ESCB – i.e. the ECB and the national central banks – in the area of financial stability arise from the tasks allocated to the ECB by the EC Treaty and the ESCB Statute:
– V skladu s členom 105(2) PES mora ESCB podpirati nemoteno delovanje plačilnih sistemov.
- Under the terms of Article 105(2) of the Treaty, the ESCB must promote the smooth operation of payment systems.
– Na podlagi člena 105(5) mora ESCB prispevati k nemotenemu izvajanju ukrepov s strani pristojnih organov na področju nadzora bank in stabilnosti finančnih sistemov.
- Under the terms of Article 105(5) the ESCB must contribute to the smooth conduct of policies pursued by the competent authorities relating to the prudential supervision of banks and the stability of the financial system.
– Člen 105(4) PES in člen 25.1 Statuta ESCB utemeljujeta svetovalno vlogo, ki jo ima ECB pri vprašanjih v zvezi s stabilnostjo finančnih sistemov.
- Article 105(4) of the Treaty and Article 25.1 of the ESCB Statute provide a basis for the advisory role which the ECB assumes in matters relating to the stability of the financial system.
– Navsezadnje lahko ECB v skladu s členom 22 Statuta ESCB izdaja uredbe za zagotovitev učinkovitih in zanesljivih klirinških ter plačilnih sistemov v Skupnosti in na področju prometa s tretjimi državami.
- Finally, under the terms of Article 22 of the ESCB Statute, the ECB can make regulations to ensure efficient and sound clearance and payment systems within the Community and with third countries.
Ta dodelitev odgovornosti in vlog odraža dejstvo, da je stabilen finančni sistem z nemoteno delujočim plačilnim sistemom ter stabilnim bančnim sistemom osnovnega pomena za denarno politiko centralne banke.
This allocation of responsibilities and roles reflects the fact that a stable financial system with a smoothly functioning payment system and a stable banking system is of fundamental significance to the monetary policy of a central bank.
Učinkovitost denarne politike je odvisna od delujočih in tudi v stresnih razmerah stabilnih transmisijskih kanalov v finančnem sistemu.
The effectiveness of monetary policy depends on efficient and, in stressful situations, stable channels of transmission in the financial system.
Centralna banka mora zato finančni sistem neprekinjeno in skrbno spremljati ter analizirati v zvezi s sistemskimi tveganji, ki lahko ovirajo njegovo delovanje.
The central bank should therefore monitor and analyse the financial system continuously and carefully in particular with regard to systemic risks which may impair its efficiency.
Ne glede na prekrivanje med monetarno in finančno stabilnostjo lahko sodelovanje ECB pri nadzorovanju finančne stabilnosti pomembno prispeva h krepitvi in stabilnosti evropskega finančnega sistema ter s tem k gospodarskemu razvoju euro območja.
Apart from the intersections between monetary stability and financial stability, the ECB’s collaboration on the monitoring of financial stability can make an important contribution to the reinforcement and stability of the European financial system and thus to economic development in the euro area.
Kot naddržavna ustanova je skoraj že vnaprej določena za analiziranje in nadzorovanje čezmejnih povezav med finančnimi posredniki in trgi ter združujočo se evropsko finančno infrastrukturo glede na posledice za finančno stabilnost.
As a supranational institution it is perfectly suited to analysing in detail and monitoring cross-border links between financial intermediaries and markets and the concretion of the European financial structure as regards its consequences for financial stability.
V praksi je imel prispevek ECB k stabilnosti finančnih sistemov različne oblike, ki predstavljajo različne odgovornosti.
In practice the ECB’s contribution to the stability of the financial system has assumed a variety of forms which reflect its differing responsibilities.
Za euro območje je oblikovala sistematično nadzorovanje, ki dopolnjuje nadzorovanje finančne stabilnosti na nacionalni ravni.
For the euro area it has established systematic monitoring of the financial system, which augments the monitoring of financial stability at national level.
ECB od decembra 2004 tako kot veliko drugih nacionalnih emisijskih bank objavlja poročilo o finančni stabilnosti, ki obravnava razvoj na celotnem euro območju.
Since December 2004 the ECB has published financial stability reports which deal with trends throughout the euro area, as have many national money-issuing banks.
Na ta način ECB obvešča javno in finančno industrijo o bistvenih tveganjih za stabilnost in o stopnji dovzetnosti sistema za pretrese.
In this way the ECB informs the public and the financial industry of the considerable risks to stability and of the degree of susceptibility to shock in the system.
Odgovoren je eurosistem, kot je bilo omenjeno že pri podpiranju nemotenega delovanja sistemov plačilnega prometa na euro območju.
As has already been indicated, it is the Eurosystem which is responsible for promoting the smooth operation of payment transaction systems in the euro area.
Cilj njegove funkcije nadzora je zagotovitev finančne stabilnosti.
Its supervisory role aims to safeguard financial stability.
Tržna infrastruktura je bistven sestavni del finančnega sistema in možen kanal, ki prenaša negativne učinke v stresnih razmerah.
The market infrastructure is an essential component of the financial system and a potential channel via which contagion effects run in stress situations.
Z vedno večjim povezovanjem finančnih sistemov EU bi lahko postale dejavnosti na tem področju pomembnejše.
With the increasing integration of EU financial systems activities in this area should become more important.
Ker je članica zadevnih strokovnih forumov, ECB nenazadnje prispeva k oblikovanju in ustvarjanju učinkovite finančne ureditve in zahtev za nadzor na nacionalni, evropski in mednarodni ravni.
As a member of relevant specialist forums the ECB finally makes its contribution to the formulation and shape of effective financial regulation and supervisory requirements at national, European and international level.
To poteka na primer v obliki uradnih stališč k osnutkom zakonov na ravni Skupnosti ali na nacionalni ravni.
This happens, for example, in the form of formal commentaries on draft legislation at Community or national level.
Nenazadnje je treba omeniti Odbor za bančni nadzor ESCB (Banking Supervision Committee: BSC), ki podpira ESCB pri izpolnjevanju nalog.
And mention should not least be made of the ESCB’s Banking Supervision Committee (BSC), which supports the ESCB in the fulfilment of its responsibilities.
Kaj menite o vlogi ECB pri bančnem nadzoru znotraj postopka Lamfalussy in o sedanjih razpravah o možnem vseevropskem regulatorju finančnih storitev?
How do you see the ECB's role in banking supervision in the context of the Lamfalussy process and the present discussions concerning a possible pan-European financial services regulator?
Odgovornost ECB na področju bančnega nadzora izhaja iz Pogodbe ES in Statuta ESCB.
The ECB’s responsibility for the supervision of banks is evident from the EC Treaty and the ESCB Statute.
– Na podlagi člena 105(5) Pogodbe je naloga eurosistema, da s pristojnimi organi prispeva k nemotenemu izvajanju bančnega nadzora.
- Under the terms of Article 105(5) of the Treaty the Eurosystem has the task of contributing to the smooth conduct of policies pursued by the competent authorities relating to the supervision of banks.
– ECB je razen tega treba zaprositi za nasvet glede vseh pravnih aktov Skupnosti in vseh osnutkov nacionalnih pravnih predpisov na področju bančnega nadzora (člen 105(4) PES).
- The ECM is also to take heed of all of the Community’s legal files and all drafts of national legal regulations relating to the supervision of banks (Article 105(4) of the Treaty).
– Razen tega lahko ECB svetuje Svetu, Komisiji in pristojnim organom držav članic na področju bančnega nadzora, kadar gre za vprašanja področja uporabe in uporabe pravnih predpisov Skupnosti (člen 25.1 Statuta ESCB).
- The ECB may also offer advice to the Council, the Commission and the competent authorities of the Member States on the scope and implementation of Community legislation relating to the prudential supervision of credit institutions (Article 25.1 of the ESCB Statute).
V praksi predstavlja prispevek eurosistema spodbujanje sodelovanja med organi, pristojnimi za bančni nadzor, nacionalnimi centralnimi bankami in ECB.
In practice the Eurosystem’s contribution consists of promoting cooperation among the authorities responsible for the supervision of banks, central banks and the ECB.
V zvezi s tem ima pomembno vlogo že omenjen Odbor za bančni nadzor ESCB (Banking Supervision Committee: BSC).
In this context the ESCB’s Banking Supervision Committee (BSC), which has already been mentioned, plays an important part.
Njegove dejavnosti so usmerjene predvsem na smotrne makro vidike evropskih bančnih sistemov in stabilnost finančnih trgov.
Its activities are primarily aimed at macroprudential aspects of European banking systems and the stability of the financial markets.
Razen tega služi Odbor spodbujanju sodelovanja med organi, vključeni v bančni nadzor.
The committee is also used to promote cooperation between the bodies involved in the supervision of banks.
Kot članica Odbora evropskih bančnih nadzornikov (Committee of European Banking Supervisors: CEBS) ECB razen tega neposredno sodeluje v postopku Lamfalussy.
As a member of the Committee of European Banking Supervisors (CEBS) the ECB also participates directly in the Lamfalussy process.
CEBS svetuje Komisiji v zvezi z načrti urejanja in podpira skladno izvajanje direktiv EU ter konvergenčnost prakse nadzora v državah članicah.
CEBS advises the Commission in the context of regulatory plans and promotes the consistent implementation of EU Directives and convergence in supervisory practice in Member States.
CEBS in BSC tesno sodelujeta ter zagotavljata prepletanje smotrnih mikro in makro dejavnosti.
The CEBS and BSC cooperate closely and thus ensure a link between microprudential and macroprudential activity.
V zvezi z možnim nadaljnjim razvojem nadzornih struktur v postopku Lamfalussy, se strinjam z izjavami iz bele knjige Komisije, da je treba obstoječi institucionalni okvir povsem izkoristiti.
As far as potential further developments in supervisory structures in the Lamfalussy process are concerned, I agree with the statements contained in the Commission’s White Paper to the effect that the existing institutional framework should be completely exhausted.
Odbori 3. stopnje morajo dobiti dovolj časa, da bodo razvili svoj celoten potencial.
Level 3 committees should be given sufficient time to develop their full potential.
V bančnem sektorju ponuja praktično izvajanje Basel II v zvezi s tem možnost spodbujanja konvergence v praksi nadzorovanja in sodelovanja med nadzornimi organi.
In the banking sector the practical implementation of Basel II in this connection offers an opportunity to make progress on convergence in the supervisory practice and cooperation between supervisory authorities.
Zato bo izvajanje predpisov iz baselskega sporazuma preizkus, v kolikšnem obsegu CEBS skupaj z drugimi odbori 3. stopnje uspe spodbujati skupno evropsko nadzorno kulturo.
To that extent implementation of the Basel regulations will be a test of the extent to which CEBS and the other level 3 committees will be successful in promoting a common European supervisory culture.
Ko bodo o tem obstajale prve izkušnje, je treba izvesti obsežno oceno postopka Lamfalussy.
When the initial experiences are available a comprehensive evaluation of the Lamfalussy process should be undertaken.
Zahtevo za evropskega „vodilnega nadzornika“ poznam.
I am familiar with the demand for a European ‘lead supervisor’.
To zahtevajo predvsem večje finančne skupine, ki delujejo čezmejno.
This demand is made primarily by major financial groups which operate across borders.
Z že omenjenim izvajanjem smernice Basel II bo okrepljena vloga nadzornika skupine.
With the implementation of the Basel II Directive, which I have already addressed, the role of the group supervisor will be strengthened.
Ustanovitev „vodilnega nadzornika“, ki mu je bila kot nadzornemu organu v domovini finančnega matičnega podjetja podeljena tudi vodilna odgovornost za vsa hčerinska podjetja koncerna po vsej Evropi, bi bilo treba skrbno preveriti.
The creation of a ‘lead supervisor’, which as the domestic supervisory authority of the parent company in a financial group would be given Europe-wide lead responsibility for all of the group’s subsidiaries, would have to be examined carefully.
Katera so po vašem mnenju najnujnejša vprašanja na področju zakonodaje finančnih storitev, ki jih je še treba dopolniti po akcijskem načrtu o finančnih storitvah?
What do you see as the most pressing issues in financial services legislation which remain to be completed after the Financial Services Action plan?
Kaj menite o beli knjigi Komisije o politiki finančnih storitev 2005–2010?
What is your view on the white paper on financial services policy 2005-2010 delivered by the Commission?
Prva prednostna naloga po sklenitvi akcijskega načrta o finančnih storitvah mora biti prenos sprejetih predpisov v pravo držav članic in njihovo skladno izvajanje.
Following the conclusion of the Financial Services Action Plan the foremost priority should be the implementation of the regulations adopted in the law of the Member States and their consistent implementation.
V zvezi z nadaljnjim zakonodajnim delom pomislim glede zaostajanja na področju povezovanja maloprodajnih trgov najprej na osnutek direktive o plačilnih storitvah na notranjem trgu, ki lahko prispeva k zmanjšanju razdrobljenosti v evropskem plačilnem prometu.
As regards further legislative activity I initially think, in view of the integration deficit in the retail markets, of the draft directive on payment services in the internal market, which can make a contribution to the reduction of fragmentation in European payment transactions.
Razen tega menim, da je nova pobuda KNPVP (kolektivna naložbena podjetja za vlaganja v prenosljive vrednostne papirje), ki želi odstraniti nacionalne ovire investicijskih skladov in povečati preglednost za vlagatelje, pomembna.
I also regard the new UCITS initiative (Undertakings for collective investment in transferable securities), which has set as its objective the removal of national barriers to investment funds and transparency for investors as significant.
Z belo knjigo o finančnih storitvah Komisija do leta 2010 pravilno poudarja pospešen razvoj povezovanja finančnih trgov v EU.
In the White Paper on financial services the Commission has placed emphasis on pushing ahead with the development of financial market integration in the EU by 2010.
Zlasti menim, da je namen Komisije, da se bo najprej osredotočila predvsem na pravočasno in koherentno izvajanje v državah članicah, preverjanje učinkovitosti ter izboljšanje ukrepov akcijskega načrta o finančnih storitvah z vidika kakovosti, učinkovita.
And in particular I regard as well judged the Commission’s intention to concentrate particularly on timely and coherent implementation in Member States, a review of effectiveness and the qualitative improvement of existing FSAP measures.
Tudi posledične ocene zakona za načrtovane ureditve z uporabo analiz stroškov in koristi so ocenjene pozitivno.
The assessments of the legal consequences of planned regulations using cost-benefit analysis must be analysed as positive.
Vendar bo treba paziti, da bodo te analize temeljile na razumljivih, objektivnih merilih in splošno sprejetih postopkih.
But care must also be taken to support this analysis on comprehensible, objective criteria and generally accepted procedures.
V zvezi z opornimi točkami za nadaljnji razvoj ali preverjanje postopka Lamfalussy v beli knjigi sem podprl evolucijski pristop Komisije pri razvoju nadzornih struktur v Skupnosti.
As regards the starting points for the further development or review of the Lamfalussy process in the White Paper, I support the Commission’s evolutionary approach in the development of supervisory structures in the Community.
Kot je bilo že povedano v odgovoru na vprašanje C 24, je treba okrepiti predvsem usklajevanje in sodelovanje vlagateljev na tretji stopnji, da se spodbudi konvergenca prakse nadzora ter odpravijo ovire za čezmejna združevanja in nakupe v finančnem sektorju.
As previously stated in the answer to Question C 24, the coordination and cooperation of supervisors should be intensified at level 3, to promote the convergence of supervisory practice and remove any obstacles to cross-border mergers and acquisitions in the financial sector.
Čeprav je akcijski načrt o finančnih storitvah koristen za cilj povezovanja finančnih trgov, evropski finančni trgi nikakor niso povsem združeni.
Although FSAP was beneficial to the goal of financial market integration, European financial markets are still far from being completely integrated.
Na to zagotovo vplivajo razlike v finančni kulturi med državami članicami.
Here a part is certainly played by the differences in financial culture between Member States.
Vseeno ne smemo podcenjevati velike svobode presoje držav članic pri izvajanju direktiv EU.
But the numerous discretionary powers for Member States when implementing EU directives should not be underestimated.
Pospešeno povezovanje ovirajo tudi še vedno obstojoče razlike v davčnem pravu in pravu gospodarskih družb ter varstvu potrošnikov.
Continuing differences in tax and business law and in consumer protection are also an obstacle to accelerated integration.
Kakšno je vaše mnenje o predlogu Komisije o oblikovanju novega pravnega okvira za plačila na notranjem trgu EU?
What is your view on the Commission proposal to create a new legal framework for payments in the Internal Market of the EU?
Kako lahko ECB prispeva k udejanjanju resnično enotnega plačilnega območja v Evropi, tako za plačila v trgovini na drobno kot na debelo?
How can the ECB contribute the fulfilment of a true single payments area in Europe , both for retail and wholesale payments?
Pogoj za evropski notranji trg so ustrezni mehanizmi upravljanja plačil.
The European internal market requires adequate mechanisms for handling payments.