natgillin/translations-raw huggingface dataset:
Res je sicer, da je obvladovanje razvoja inflacije z zmanjšanjem premije za tveganje, ki so jo zahtevali finančni trgi, morda prispevalo k spodbujanju nevzdržnega razvoja nekaterih cen premoženja.
At the same time, it is true that the tamed developments in inflation dynamics, by reducing the risk premium demanded by financial markets, may have contributed to fostering unsustainable developments in some asset prices.
V prihodnosti bodo morale centralne banke ohraniti kredibilnost, ki so jo s težavo gradile preteklih 30 let, ter se še naprej osredotočati na cilj stabilnosti cen, hkrati pa ustrezno upoštevati vpliv razvoja cen premoženja na srednjeročna in dolgoročna tveganja za ohranitev stabilnosti cen.
Looking forward, central banks must preserve their own hard gained credibility over the past 30 years and remain focused on their price stability objective, while taking due account of the implications of asset price developments for medium to longer term risks to price stability.
Spremljanje razvoja cen premoženja je eden od pomembnih elementov čvrste strategije monetarne politike.
Monitoring asset price developments is one important element in a robust monetary policy strategy.
Nevzdržni razvoj cen premoženja lahko pomeni, da bodo potrebne precej boleče prilagoditve, pa čeprav daleč v prihodnosti, ki bi lahko ogrozile zmožnost centralne banke, da trajno ohranja stabilnost cen.
Unsustainable developments in asset prices may herald quite painful adjustments – even far away in the future – that may jeopardise a central bank’s ability to maintain price stability on a lasting basis.
Strategija monetarne politike ECB je na primer oblikovana tako, da se pri sprejemanju odločitev o monetarni politiki ustrezno upoštevajo dolgoročna tveganja za stabilnost cen, ki so posledica nevzdržne dinamike cen premoženja.
The ECB’s monetary policy strategy, for example, is designed in such a way as to duly incorporate the longer term risks to price stability emanating from unsustainable asset price dynamics into monetary policy deliberations.
V monetarni analizi, ki ima pomembno vlogo pri oblikovanju srednjeročnih in dolgoročnih obetov glede razvoja cen, ocena razvoja na monetarnem in kreditnem področju omogoča spremljanje vzajemnega delovanja med oblikovanjem cen na premoženjskih trgih ter ustvarjanjem kreditov in likvidnosti v finančnem sektorju.
In the monetary analysis, which plays an important role in shaping the medium to longer-term outlook for price developments, the assessment of money and credit developments makes it possible to follow the interactions between price formation in asset markets and credit and liquidity creation in the financial sector.
To monetarno politiko spodbuja, da se na začetna neravnovesja v cenah premoženja, ki se odražajo v dinamiki monetarnih in kreditnih agregatov, odzove s proaktivnimi in proticikličnimi ukrepi, poleg tega pa ji pomaga pri omejevanju pojava prenapihnjenih cen premoženja v finančnih ciklusih ter pri ohranjanju stabilnosti cen.
This encourages monetary policy to adopt a leaning-against-the-wind attitude to incipient asset price imbalances that are reflected in the dynamics of monetary and credit aggregates.
Monetarna politika pa ni nujno najprimernejše orodje za obravnavo skokovite rasti cen kreditov in premoženja.
It helps monetary policy to limit the build-up of asset price bubbles over financial cycles and thereby to maintain price stability on a lasting basis.
Bolj primerna bi utegnila biti uporaba makro bonitetnih instrumentov, usmerjenih v izvor pretirane finančne živahnosti.
Nevertheless, monetary policy is not necessarily the most appropriate instrument to deal with credit/asset price booms.
Res pa je, da s temi instrumenti nimamo veliko izkušenj.
At the same time, we have little experience with these instruments.
Kako ocenjujete posledice rastočih cen surovin za monetarno politiko?
How do you assess the consequences of rising commodity prices for the monetary policy?
Ali v smislu monetarne politike obstaja nasprotje med bojem proti recesiji in previdnostjo glede inflacije (pričakovanji)?
Is there a conflict in terms of monetary policy between fighting the recession and remaining vigilant about inflation (expectations)?
Monetarna politika ECB je osredotočena na srednjeročne gibanje cen.
The monetary policy of the ECB focuses on price developments in the medium term.
Nekaj časa traja, preden spremembe v drži monetarne politike vplivajo na gospodarstvo in navsezadnje na cene.
Changes in the monetary policy stance take some time to affect the economy and, ultimately, prices.
Naraščajoče cene surovin, ki jih sedaj opažamo, bodo zato na monetarno politiko vplivale samo toliko, kolikor bodo ustvarile povečano tveganje za srednjeročno stabilnost cen.
Rising commodity prices, as currently observed, therefore will affect monetary policy only to the extent that they create upside risks for price stability in the medium term.
Kratkoročni učinki na splošno inflacijo, ki izhajajo iz neposrednih učinkov višjih cen surovin na inflacijo, in posredni učinki zaradi njihove uporabe kot vložka v proizvodni proces načeloma niso razlog, zaradi katerega bi se ECB odzvala, saj bi bil učinek na potrošniške cene zgolj začasen.
Short-term effects on overall inflation, stemming from direct effects of higher commodity prices on inflation, and indirect effects from its use as input in the production process, are in principle no reason for the ECB to react as the effect on consumer prices would only be temporary.
Stvari bi se začele spreminjati, če bi se ta začasen povečan pritisk na cene zasidral v vedenju potrošnikov, proizvajalcev in udeležencev na finančnem trgu, kar bi povzročilo nastanek sekundarnih učinkov.
Things start to become different if this short-run upward pressure on prices would become entrenched in the behaviour of consumers, producers and financial market participants leading to the emergence of second-round effects.
Poleg tega mora centralna banka posredovati tudi v primeru stalno naraščajočega trenda v cenah surovin, kadar trajno odstopanje od ciljev stabilnosti cen ogroža utrditev inflacijskih pričakovanj.
Also, in case of sustained upward trends in commodity prices the central bank may need to intervene when a sustained deviation from the price stability objective risks undermining the firm anchoring of inflation expectations.
V teh primerih bi bila potrebna zaostritev monetarne politike, da bi se vrnili v stanje stabilnosti cen in trdno zasidranih inflacijskih pričakovanj.
In such cases, a monetary policy tightening would be required to return to a situation of price stability and well-anchored inflation expectations.
V sedanjih razmerah moramo tesneje spremljati cene surovin in njihovo povezanost z gospodarstvom in inflacijo.
In the current situation, we need to closely monitor the prices of commodities and their pass-through to the economy and inflation.
Glavna naloga ECB je srednjeročno ohranjanje stabilnosti cen.
The ECB’s primary mandate is to maintain price stability in the medium term.
Da bi to dosegla, določa obrestne mere, zaenkrat pa uporablja tudi nestandardne ukrepe, da bi se obrestne mere prenesle v gospodarstvo kot v normalnih razmerah.
To achieve that, it sets interest rates, and currently it also implements non-standard measures that aim at ensuring that low interest rates are transferred to the economy as in normal times.
Zagotovitev stabilnosti cen je najboljši prispevek, ki ga lahko ECB da k izboljšanju možnosti za trajno okrevanje gospodarstva (glej tudi odgovor na 8. vprašanje).
Ensuring price stability is the best contribution the ECB can make to raising prospects for a sustainable economic recovery (see also the answer to the question 8).
ECB je v skladu s Pogodbo določila jasno številčno merilo za doseganje stabilnosti cen.
In line with the Treaty, the ECB has set a clear numerical benchmark for the achievement of price stability.
Njen cilj je srednjeročno ohraniti inflacijo pod 2 %, vendar blizu tej vrednosti, in že od začetka ta cilj uspešno izpolnjuje.
It aims to maintain inflation below, but close to, 2% over the medium term and has fully accomplished this goal from the start.
O dejstvu, da centralna banka ne more vplivati na gospodarsko rast na trajnosten način s spreminjanjem denarne mase, vlada široko soglasje.
A broad consensus exists on the fact that a central bank cannot influence economic growth in a sustainable manner by changing the money supply.
Brez poseganja v cilj stabilnosti cen Pogodba predvideva tudi podporo Evropskega sistema centralnih bank splošnim gospodarskim politikam v Uniji, da bi med drugim prispeval k trajnostnemu razvoju Evrope na podlagi uravnotežene gospodarske rasti in uresničevanju cilja polne zaposlenosti.
Without prejudice to the objective of price stability, the Treaty also envisages the support by the ESCB of the general economic policies in the Union, with a view to contributing inter alia to the sustainable development of Europe based on balanced economic growth and aiming at full employment.
Med finančno krizo se je monetarna politika na gospodarske in finančne pretrese odzvala z ustrezno srednjeročno usmeritvijo, da bi zagotovila utrditev inflacijskih pričakovanj ter stabilizirala makroekonomski razvoj.
During the financial crisis, monetary policy reacted to economic and financial shocks with the appropriate medium-term orientation to ensure a solid anchoring of inflation expectations and to stabilise macroeconomic developments.
ECB je ustrezno visoko podpirala gospodarstvo z uporabo instrumenta obrestnih mer, ne da bi pri tem ogrozila stabilnost cen.
Without endangering price stability, the ECB has been giving a sufficient degree of support to the economy by using its interest rate instrument.
Poleg tega je tradicionalno znižala obrestne mere, in sicer na najnižjo raven v zgodovini, njen odziv pa je bil obenem dovolj prilagodljiv glede na okoliščine.
Moreover, in addition to conventional interest rate cuts to historically low levels, the ECB’s response was sufficiently flexible as circumstances required.
Sprejela je t. i. nestandardne ukrepe, da bi zagotovila nemoten prenos monetarne politike v okviru nenavadno visoke negotovosti in nestabilnosti na finančnih trgih.
It adopted so called non-standard measures with a view to ensuring the smooth transmission of monetary policy in a context of unusually high uncertainty and instability in financial markets.
Kako ocenjujete institucionalne odnose med ECB, Svetom in/ali Euroskupino?
How do you judge the institutional relation between the ECB, the Council and/or the Eurogroup?
Ali menite, da je treba usklajevanje in gospodarski nadzor znotraj Euroskupine izboljšati?
Do you think that the coordination and economic surveillance inside the Eurogroup should be improved?
ECB redno sodeluje na sestankih Ecofina, Euroskupine in njunih pripravljalnih odborov.
The ECB takes part, on a permanent basis, in the meetings of the ECOFIN Council, the Eurogroup and their preparatory committees.
Poleg tega se predsednik ECB redno udeležuje pomembnih delov sej Evropskega sveta.
The ECB President is also regularly participating in relevant parts of the meetings of European Council.
To tesno sodelovanje ECB omogoča, da ministre obvešča o svojih odločitvah glede monetarne politike in o svoji oceni gospodarskega in finančnega razvoja.
This close cooperation allows the ECB to inform Ministers about its monetary policy decisions and its assessment of economic and financial developments.
ECB prek svoje udeležbe v teh forumih sodeluje v razpravah o fiskalni, makroekonomski in strukturni politiki držav članic EU (zajetih v semestru EU), mednarodnih finančnih zadevah in politikah finančnega sektorja.
Conversely, via its participation in these fora, the ECB is engaged in discussions about EU Member States' fiscal and other macroeconomic and structural policies (as covered by the EU Semester), international financial affairs and financial sector policies.
Kljub temu bi bilo treba okrepiti zakonodajne predloge Komisije o gospodarskem upravljanju v EU, usklajevanju in gospodarskem nadzoru.
Nevertheless, the Commission's legislative proposals on economic governance in the EU, coordination and economic surveillance should indeed be strengthened.
Euroskupina ima pri tem bistveno vlogo, saj uteleša ekonomski „steber“ ekonomske in monetarne unije.
The Eurogroup has a crucial role to play, embodying the “Economic” pillar of EMU.
Namen okrepljenega sodelovanja bi moral biti preprečevanje nastajanja nevzdržnih neravnovesij, ki bi lahko ogrozila nemoteno delovanje ekonomske in monetarne unije, zagotavljanje vzdržnih fiskalnih razmer in krepitev potenciala rasti v euroobmočju.
This strengthened cooperation should be aimed at avoiding the build-up of unsustainable imbalances that might endanger the smooth functioning of economic and monetary union, ensuring sustainable fiscal positions and enhancing the growth potential of the euro area.
Kakšno je vaše mnenje o zakonodajnih predlogih o reformi gospodarskega upravljanja, o katerih trenutno teče razprava v Evropskem parlamentu?
What do you think of the "economic governance reform" draft legislative proposals currently debated in the European Parliament?
Ali menite, da je celovit nadzor korak naprej ali bi se raje osredotočili na proračunski nadzor?
Would you think that integrated surveillance is a step forward or would you rather focus on budgetary surveillance?
Medtem ko predlogi, ki jih je predložila Komisija, pomenijo pomembno razširitev in krepitev obstoječega okvira za fiskalni in makroekonomski nadzor v EU, ne dosežejo „kvantnega preskoka“ v okviru gospodarskega upravljanja ekonomske in monetarne unije, da bi dosegli tesnejšo ekonomsko unijo, k čemur je pozvala ECB.
While the proposals put forward by the Commission represent an important broadening and strengthening of the existing framework for fiscal and macroeconomic surveillance in the EU, they do not go as far as the "quantum leap" in the economic governance framework of EMU to achieve a deeper economic union called for by the ECB.
V zvezi s tem pozdravljam prizadevanja Evropskega parlamenta in upam, da bo v celoti izkoristil prostor, ki ga dopušča Pogodba, da bi v razpravah v okviru trialoga s Svetom in Komisijo v največji možni meri okrepil gospodarsko upravljanje.
In this respect, I welcome the efforts by the European Parliament and hope that they will fully use the room available in the Treaty to reinforce economic governance to the maximum possible in the upcoming trialogue discussions with the Council and the Commission.
Iz tega, kako je nadzor potekal v preteklosti, bi morali vzeti glavni nauk, da se je treba strogo držati pravil in da vsa odstopanja s seboj prinesejo skoraj samodejne korektivne ukrepe.
The main lesson we should draw from how surveillance was practiced in the past is that rules need to be adhered to strictly and that any deviations are followed by quasi-automatic corrective steps.
To lahko dosežemo z jasnimi in pravočasnimi postopki, ki si jih ni težko razlagati in izvajati.
This can be achieved through clear and timely procedures that are straightforward to interpret and implement.
Nedavna kriza je pokazala, da lahko makroekonomska neravnovesja pomenijo veliko tveganje za javne finance, ki se lahko zelo hitro uresniči.
The recent crisis has shown that macroeconomic imbalances can pose large risks to public finances, which might materialise very quickly.
Postalo je tudi zelo jasno, da ta tveganja niso bila dovolj nadzirana in obravnavana v sedanjem okviru upravljanja.
It has also become very clear that these risks were not sufficiently monitored and addressed in the current governance framework.
Zaradi tega potrebujemo celovitejši pristop k nadzoru.
A more integrated approach to surveillance is therefore needed.
Dobro je, da bodo v okviru evropskega semestra časovno usklajeni različni procesi nadzora, s čimer bo zagotovljena doslednost, hkrati pa bodo ostali pravno in postopkovno ločeni.
It is good that under the European Semester, the timing of the various surveillance processes will be aligned to ensure consistency, while they will remain legally and procedurally separate.
Katere vloge, odnosi in izzivi po vašem mnenju čakajo ECB in prihodnji evropski mehanizem za stabilnost?
What roles, relationships and challenges do you see for the ECB and the forthcoming European Stability Mechanism?
V izjavi Euroskupine o evropskem mehanizmu za stabilnost z dne 28. novembra 2010, ki jo je Evropski svet potrdil 16. in 17. decembra 2010, so za ECB predvidene številne naloge.
A number of tasks are foreseen for the ECB in the Eurogroup statement on the European Stability Mechanism (ESM) of 28 November 2010, endorsed by the European Council on 16-17 December 2010.
Prvič, Komisija in Mednarodni denarni sklad se bosta v sodelovanju z ECB dogovorila o programih gospodarske in finančne pomoči državam euroobmočja, ki so zaprosile za pomoč prek evropskega mehanizma za stabilnost, in jih spremljala, kot že velja za posojila Grčiji in pomoč iz evropskega instrumenta za finančno stabilnost in evropskega mehanizma za finančno stabilizacijo.
First, the Commission and the IMF, in liaison with the ECB, will negotiate and monitor economic and financial assistance programmes for euro area countries seeking ESM assistance, as is the practice for the Greek Loan Facility and for assistance under the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).
Vendar pa ECB tu ne bi smela prevzeti vodilne vloge, saj bi lahko premočna vključenost v spremljanje programov oslabila njeno neodvisnost.
However, the ECB should not take a leading role here as a too strong involvement in monitoring of programmes might weaken its independence.
Drugič, Komisija in Mednarodni denarni sklad bosta pred odobritvijo pomoči prek evropskega mehanizma za stabilnost v sodelovanju z ECB opravila temeljito analizo vzdržnosti zadolževanja, na osnovi katere bo Euroskupina sprejela soglasno odločitev o nudenju pomoči.
Second, prior to ESM assistance, the Commission and the IMF, in liaison with the ECB, will conduct a thorough debt sustainability analysis, on the basis of which the Eurogroup will take a unanimous decision on providing assistance.
Tretjič, Komisija bo v sodelovanju z ECB leta 2016 ocenila splošno učinkovitost okvira, predvidenega za evropski mehanizem za stabilnost.
Third, the overall effectiveness of the framework foreseen for the ESM will be evaluated in 2016 by the Commission, in liaison with the ECB.
Kaj bi izdaja euroobveznic pomenila za gospodarsko upravljanje na euroobmočju?
What would the issuance of Eurobonds imply for economic governance in the euro area?
Več strani je predlagalo izdajo obveznic s skupnim jamstvom ali „euroobveznica“ kot instrumenta za povečevanje likvidnosti na trgih z dolgovi držav euroobmočja in kot mehanizem, ki bi bil v pomoč pri reševanju sedanje državne dolžniške krize.
Jointly guaranteed bonds, or ‘Eurobonds’, have been suggested from various sides both as an instrument to increase liquidity in sovereign debt markets of the euro area and as a possible mechanism to help resolving the ongoing sovereign debt crisis.
Vendar je treba najprej razjasniti nekaj ključnih vidikov.
However, several key aspects need first to be tackled.
Najpomembneje je, da obveznice s skupnim jamstvom, ki imajo enotno obrestno mero za celotno območje, povzročajo znatne težave pri skupnih pobudah.
Most importantly, jointly guaranteed bonds with a single area-wide interest rate create a significant common pool incentive problem.
Lahko oslabijo pobude za fiskalno preudarnost na državni ravni ter povzročijo upad zanimanja držav za sprejemanje politično dragih ukrepov za preprečevanje in reševanje kriz.
They might impair the incentives for fiscal prudence at the domestic level and make it less attractive for countries to take politically costly measures to prevent and resolve crises themselves.
Pobuda bi lahko imela škodljiv učinek ne samo za države, ki imajo korist od nižjih obrestnih mer takih skupnih obveznic, ampak tudi na tiste, ki jih izplačujejo, ker ne bodo več imele koristi od pretekle fiskalne preudarnosti.
The adverse incentive effects might apply not only for the countries benefiting from lower interest rates on such joint bonds, but also for those paying up as they would no longer reap the benefits of past fiscal prudence.
Skupne euroobveznice so bolj smiselne v okolju, v katerem se znatna količina fiskalne pristojnosti prenese z nacionalne ravni na raven Unije in kjer ima Unija zadostne instrumente za izravnavo neugodnih učinkov skupnih obveznic.
Joint Eurobonds make more sense in an environment where a considerable amount of fiscal competence is transferred from the national to the union level and where the union has sufficient instruments to countervail the adverse incentive effects of joint bonds.
Podobno bi bilo sedanji finančni ureditvi med osrednjo državno ravnijo in regionalnimi organi v zveznih državah.
This would be akin to current financial arrangements between the central government and regional authorities within federal states.
Kateri so po vašem mnenju najpomembnejši cilji strategije za rast in delovna mesta do leta 2020?
What do you think are the most important objectives for the strategy for jobs and growth until 2020?
Kako bi lahko ECB in instrumenti za gospodarsko in politično usklajevanje prispevali k uspehu te strategije?
How could the ECB and the instruments of economic and policy coordination contribute to the success of this strategy?
Razvrstite po pomembnosti strukturne reforme, za katere menite, da so prednostna naloga v EU.
Please list in order of importance the structural reforms which you believe are a priority in the EU.
Za Evropo je odločilno, da poveča svoj potencial rasti.
It is crucial for Europe to raise its growth potential.
To je najlažje doseči tako, da se ustvarijo pogoji, v katerih uspevajo in se širijo inovacije.
The best way to do so is to create a climate for innovation to flourish and spread.
Človeški kapital je največje bogastvo Evrope.
The main asset of Europe is human capital.
Inovacije bi morale pripomoči k reševanju okoljskih izzivov, višja storilnost pa je potrebna za dvig življenjskega standarda in omogočanje vzdržnosti javnih financ kljub stroškom zaradi staranja prebivalstva.
Innovation should help tackling the environmental challenges and higher productivity is needed to raise the living standards and help bringing public finances on a sustainable path despite the costs of ageing.
Za uspeh strategije 2020 je bistvenega izboljšan in okrepljen nadzor nad politikami držav članic, vključno z novim mehanizmom za makroekonomski nadzor, ki ga je predlagala Komisija.
Improved and strengthened surveillance over Member States’ policies, including the new macroeconomic surveillance mechanism proposed by the Commission, is essential for the success of the EU 2020 strategy.
Da se ustvari okolje, ki pospešuje rast, bi morala ECB poleg zagotavljanja stabilnosti cen prispevati tudi k finančni stabilnosti.
Besides ensuring price stability, the ECB should also contribute to financial stability to create a growth facilitating environment.
Glede prioritete strukturnih reform je za obnovitev konkurenčnosti ter zvišanje potencialne gospodarske rasti in zaposlovanja odločilno da se nemudoma izvedejo znatne in daljnosežne strukturne reforme, ki dopolnjujejo fiskalno konsolidacijo.
In terms of the priority of structural reforms, it is crucial that substantial and far reaching structural reforms, which complement fiscal consolidation, are urgently implemented in order to restore competitiveness, and to achieve higher potential economic growth and employment.
Zmerno določanje plač, učinkovite spodbude za delo, okrepljena prizadevanja za izobraževanje in usposabljanje ter odprava formalne in dejanske togosti na trgu dela bodo znatno prispevali k nižji strukturni brezposelnosti v prihodnjih letih.
Moderate wage-setting, effective incentives to work as well as reinforced efforts on education and training and the removal of nominal and real labour market rigidities would contribute significantly to lower structural unemployment over the coming years.