natgillin/translations-raw huggingface dataset:
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.
Posvetovanja MDS po IV. 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.
The new decision seeks to pay greater attention to cross-country spillovers by employing external stability as the organising principle for surveillance.
Po opravljenih razpravah sta MDS in OECD oblikovala posa- mezna poročila o oceni politik euroobmočja.3Euroobmočje je sodelovalo tudi pri prvem več-
External stability is defined with reference to the exchange rate, the analysis of which consequently becomes a key component of the surveillance process.
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.
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.
Prvo večstransko posvetovanje je obravnavalo svetovna neravnovesja, pri njem pa so sodelovali Kitajska, euroobmočje, Japonska, Savdska Ara- bija in Z
Efforts are now under way to ensure the effective implementation of the new decision, taking into account the technical and conceptual challenges.
izmenjavo idej in pogledov o vzrokih in rešitvah za neravnovesja. Poudarek se je tako preusmeril z dialoga na izvajanje politik, strokovnjaki M
Finally, the euro area itself is subject to international policy surveillance exercises.
S pa spremljajo napredek in sporočajo svoje ugotovitve v dvostranskih in večstranskih poročilih.
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.
MEDNARODNA FINANČNA ARHITEKTURA Prizadevanja za reformo MDS v skladu z njegovo srednjeročno strategijo so se leta 2007 nadaljevala.
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.
Napredek na področju posameznih pobud je potekal različno, največji dosežek pa je bila uvedba novega sklepa o dvostranskem spremljanju.4Druga ključna reformna področja so obsegala upravljanje MDS (kvote in glasovanje), okvir prihodkov in odhodkov sklada ter vloga sklada v nastajajočih tržnih gospodarstvih.
Following these discussions, both the IMF and the OECD produced individual reports assessing euro area policies.3The euro area also participated in the IMF’s first multilateral consultation exercise, which focused on global imbalances (see the next section for more details).
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.
In addition, the first multilateral consultation process advanced to the monitoring stage.
Napredek je bil dosežen tudi pri drugih elementih srednjeročne strategije.
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.
Na področju reforme kvot in glasovanja je bila razprava osredotočena na novo formulo za porazdelitev kvot, drugi krog začasnega povečanja kvot za širši krog držav ter na povečanje števila osnovnih glasov.
The first multilateral consultation sought to address global imbalances and involved China, the euro area, Japan, Saudi Arabia and the United States.
Dva ključna cilja reforme sta doseči občuten napredek pri prerazporeditvi kvot sorazmerno z relativno težo in položajem držav v svetovnem gospodarstvu ter povečati glas in udeležbo držav z nižjim dohodkom v MDS.
The forum served as a useful platform to exchange ideas and views on the causes of and solutions to the imbalances.
Dogovor o glavnih elementih tega sklopa naj bi bil po pričakovanjih dosežen do spomladanskega zase-
“Euro area policies: 2007 Article IV consultation – staff report”, IMF, July 2007, and “Economic survey of the euro area”, OECD, January 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.
„Euro area policies: 2007 Article IV consultation – staff report” MDS, julij 2007, in „Economic survey of the euro area” OECD, januar 2007.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).
INTERNATIONAL FINANCIAL ARCHITECTURE Efforts to reform the IMF in line with its mediumterm strategy continued over the year.
Eden glavnih dosežkov MDS v zadnjem času je bilo izboljšanje spremljanja.
Progress on the various initiatives proceeded at different speeds, with the most notable achievement being the introduction of a new decision on bilateral surveillance.4Other 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.
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.
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
Novi sklep naj bi z uporabo zunanje stabilnosti kot organizacijskega načela spremljanja omogočal
A number of other initiatives related to financial markets were taken in the course of 2007.
Leta 2007 so bile v zvezi s fi finančnimi trgi sprejete številne druge pobude.
Drawing on the example provided by the private sector with the aforementioned principles, a code of conduct for hedge funds was put forward by a group of leading London-based hedge funds.
Po zgledu zasebnega sektorja pri prej omenjenih načelih je skupina vodilnih hedge skladov s sedežem v Londonu sprejela kodeks ravnanja za hedge sklade.
The code, which is voluntary, is designed to improve transparency and risk management.
Ta prostovoljni kodeks je namenjen izboljšanju preglednosti in upravljanja tveganj.
Additionally, the G8 agreed on an action plan for developing local bond markets in emerging market economies and developing countries.
Poleg tega je skupina G8 sprejela akcijski načrt za razvoj lokalnih obvezniških trgov v nastajajočih tržnih gospodarstvih in v državah v razvoju.
The action plan specified a number of key policy issues for further detailed examination, including strengthening market infrastructures and public debt management policies, broadening and diversifying the investor base, developing derivative and swap markets, improving databases and promoting regional initiatives. The goal is to increase the depth and efficiency of local bond markets so that they can play their full role in
V akcijskem načrtu so bila določena številna ključna vprašanja politik, ki jih je treba podrobneje preučiti, med drugim okrepitev tržnih infrastruktur in politike upravljanja javnega dolga, razširitev in razpršitev kroga vlagateljev, razvijanje trgov z izvedenimi fi finančnimi instrumenti in trgov zamenjav, izboljšanje podatkovnih baz ter spodbujanje regionalnih pobud.
Progress has also been made on other elements of the mediumterm strategy. On the topic of quota and voice reform, discussions focused on a new quota formula, a second round of ad hoc increases in quotas for a broader range of countries, and an increase in basic votes.
Cilj je povečati globino in učinkovitost lokalnih obvezniških trgov, da bi lahko v celoti odigrali svojo vlogo pri fi finančnem posredništvu, fi finančni stabilnosti in vzdržni gospo- darski rasti.
The two key objectives of the reforms are to make significant progress in realigning quota shares with members’ relative weight and role in the global economy and to enhance the voice and participation of low-income countries in the IMF.
Mednarodni denarni in fi finančni odbor pa je ob povečanju zanimanja za vlogo in dejavnosti državnih premoženjskih skladov tudi zahteval, da M
Agreement on the main elements of the package is expected to be achieved by the 2008 Spring Meetings.
S za čne dialog z upravljavci državnega pre- 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 longterm 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.
On the expenditure side, consideration of the Fund’s core mandate and careful priority-setting are guiding proposals for a new expenditure framework, which envisages substantial budget reductions.
Na strani odhodkov pa sta upoštevanje temeljnega mandata sklada in skrbno določanje prednostnih nalog vodilni priporočili za nov okvir odhodkov, ki predvideva občutno znižanje proračuna.
Finally, work is also continuing on the Fund’s engagement with emerging market economies.
Nadaljujejo se tudi prizadevanja sklada na področju sodelovanja z nastajajočimi tržnimi gospodarstvi.
The Fund improved its assistance in identifying vulnerabilities and in debt management, and continued to reflect on the option of a new liquidity instrument as a crisis prevention measure.
Sklad je izboljšal svojo pomoč pri odkrivanju ranljivosti in pri upravljanju dolga ter še naprej preučeval možnost novega likvidnostnega instrumenta kot ukrepa za preprečevanje kriz.
The first round table was convened in November 2007.
Prva okrogla miza je bila sklicana novembra 2007.
2.2 COOPERATION WITH COUNTRIES OUTSIDE THE EU
2.2 SODELOVANJE Z DRŽAVAMI ZUNAJ EU
As part of its international activities, the Eurosystem continued to develop its contacts with the central banking community outside the EU, mainly through the organisation of seminars and workshops.
Eurosistem je v okviru svojih mednarodnih dejavnosti še naprej razvijal stike s centralnimi bankami zunaj EU, predvsem z organiziranjem seminarjev in delavnic.
Moreover, technical cooperation has become an important tool supporting
Po pregledu izzivov in obetov za širitev EU in euroobmo-
Beyond IMF reforms, the agenda of the international financial community continued to feature the promotion of mechanisms for crisis prevention and orderly crisis resolution.
Poleg reform MDS si je mednarodna finančna skupnosti še naprej prizadevala spodbujati mehanizme za preprečevanje in obvladljivo reševanje kriz.
In this context, progress was made in the implementation of the principles for stable capital flows and fair debt restructuring in emerging markets, which were endorsed by the G20 in 2004.
V tem okviru je bil dosežen napredek pri izvajanju načel za stabilne kapitalske tokove in pošteno prestrukturiranje dolga na nastajajočih trgih, ki jih je leta 2004 potrdila skupina G20.
The aim of these principles, which are marketbased and voluntary, is to provide guidelines for the behaviour of sovereign issuers and their private creditors regarding information-sharing, dialogue and close cooperation.
Namen navedenih načel, ki so tržno pogojena in prostovoljna, je zagotoviti smernice za ravnanje državnih izdajateljev in njihovih zasebnih upnikov v zvezi z izmenjavo informacij, dialogom in tesnim sodelovanjem.
An increasing number of financial institutions and issuing countries have voiced support for the principles and expressed particular interest in advancing their
Za vodenje izvajanja in razvoja načel je bila leta 2006 oblikovana skupina skrbnikov (Group of Trustees), ki jo sestavljajo vodilni strokovnjaki za svetovne finance.
institution-building and enhancing effective compliance with European and international standards at institutions outside the EU.
čja se je razprava osredotočila na posledice za Rusijo. Podobni dogodki bodo še naprej redno organizirani, naslednji seminar pa bo potekal spomladi 2009 na Dunaju.
The Eurosystem held its fourth bilateral highlevel seminar with the Central Bank of the Russian Federation (Bank of Russia) in October 2007 in Moscow.
Strokovnjaki ECB so obiskali več centralnih bank držav Magreba, npr. Bank of Algeria ( februarja 2007
Furthermore, after reviewing the challenges of and the prospects for EU and euro area enlargement, the discussion focused on the implications for Russia.
ECB je še naprej poglabljala svoje odnose s centralnimi bankami in denarnimi organi držav članic Sveta za sodelovanje v Zalivu.5ECB je svetu svetovala tudi na področju plačilnih sistemov in bankovcev.
Similar events will continue to be organised on a regular basis, with the next seminar to be held in Vienna in spring 2009.
Skupaj z Deutsche Bundesbank bo ECB 11. in 12. marca 2008 v Mainzu organizirala seminar Eurosistema na visoki ravni s centralnimi bankami in denarnimi oblastmi Sveta GCC.
start on 1 April 2008, ending in December 2010. One aim of the programme is to enhance the internal audit capacity of the Bank of Russia through the transfer of EU knowledge and experience in the area of risk-based internal audits.
Po razpravah na seminarju Eurosistema in ruske centralne banke na visoki ravni oktobra 2006 v Dresdnu je ruska centralna banka 14. junija 2007 v Tuli gostila strokovno delavnico o dolgoročnih možnostih za rast ruskega gospodarstva.
Another aim is to pursue a gradual implementation of the Basel II principles for banking supervision in Russia through consultations and the sharing of the EU experience with the implementation of the EU’s Capital Requirements Directive.
Strokovnjaki ruske centralne banke in drugi strokovnjaki ruske vlade in finančne skupnosti so z ekonomisti Eurosistema izmenjali poglede na dejavnike rasti v ruskem gospodarstvu in na možnosti za nadaljnjo rast.
Advice in the area of payment systems was extended to the Commonwealth of Independent States through a seminar hosted by the National Bank of Kazakhstan in September 2007.
V delavnici sta bili med drugim predstavljeni temi „dolgoročni izzivi za rusko gospodarstvo: odvisnost od cen nafte in holandska bolezen” ter „napovedovanje rasti BDP v Rusiji in vloga politik”.
Following up on the discussions at the highlevel Eurosystem/Bank of Russia seminar held in Dresden in October 2006, the Bank of Russia hosted an expert workshop on the longterm growth prospects of the Russian economy in Tula on 14 June 2007.
ECB je 25. novembra 2007 skupaj s štirimi nacionalnimi centralnimi bankami euroobmočja (Deutsche Bundesbank, Bank of Greece, Banque de France in Banca d’Italia) končala dveletni program sodelovanja s Central Bank of Egypt, ki ga je financirala Evropska komisija.
Bank of Russia staff, as well as other experts from the Russian government and financial community, exchanged views with Eurosystem economists on the determinants of growth in and the prospects for the Russian economy.
Program je pomagal centralni banki pri njenih daljnosežnih reformnih načrtih in se pri tem osredotočal na uvajanje bančnega nadzora na osnovi ocene tveganj in izboljšanje njenih nadzornih zmogljivosti.
At the workshop, presentations were given on, among other topics, “Long-term challenges for the Russian economy: oil price dependency and Dutch disease” and “Forecasting GDP growth in Russia and the role of policies”.
Za to je bilo ustanovljenih šest projektov na področju rednega nadzora, pregledov in kontrol, makrobonitetnega nadzora, pravnih zadev in določanja standardov, usposabljanja ter informacijske tehnologije, pri katerih je vsaka od štirih nacionalnih centralnih bank prevzela mentorstvo in tesno sodelovanje z vodjo skupine iz Central Bank of Egypt.
The fourth highlevel Eurosystem seminar with governors of central banks of the EU’s euro-Mediterranean partners took place in Valencia on 28 March 2007, while the fifth will be held in Cairo on 26 November 2008.
Ruska centralna banka, ECB in nacionalne centralne banke euroobmočja so tesno sodelovale tudi pri nadaljevanju obsežnega programa usposabljanja za bančni nadzor, ki je bil izveden med letoma 2003 in 2005.
Discussions in Valencia focused, among other things, on fiscal policy in Mediterranean countries and euro-Mediterranean trade.
Novi program sodelovanja centralnih bank, ki ga financira Evropska komisija, naj bi se predvidoma začel 1. aprila 2008 in končal decembra 2010.
Several ECB visits took place at the staff level to the central banks of the Maghreb countries, for example the Bank of Algeria (February 2007), the Bank Al-Maghrib (November 2007) and the Central Bank of Tunisia (November 2007).
Naslednji cilj je vzpostaviti postopno izvajanje načel sporazuma Basel II za bančni nadzor v Rusiji prek posvetovanj in izmenjave izkušenj EU pri izvajanju direktive EU o kapitalski ustreznosti. Nasveti na področju plačilnih sistemov so bili s seminarjem, ki ga je septembra 2007 gostila National Bank of Kazakhstan, razširjeni na Skupnost neodvisnih držav.
The ECB continued to deepen its relations with the central banks and monetary agencies of the member states of the Gulf Cooperation Council (GCC).5 The ECB also provided the GCC with advice in the areas of payment systems and banknotes.
ECB in številne nacionalne centralne banke so še naprej poglabljale svoje odnose z državami zahodnega Balkana.
Together with the Deutsche Bundesbank, the ECB will organise a highlevel
ECB je v Frankfurtu 1. in 2. oktobra 2007 organizirala drugo ekonomsko konferenco o regiji in svojo pozornost razširila na vse države srednje, vzhodne in jugovzhodne Evrope.
Technical cooperation with the Bank of Russia continues.
ter predstavniki Evropske komisije, mednarodnih organizacij in akademskih krogov so razpravljali o izbranih vidikih in ključnih izzivih za realno konvergenco v regiji.
For example, in October 2007 the ECB hosted two highlevel study visits in the areas of market operations and internal finance.
Eurosistem je poročilo, s katerim se je končala misija, ki se je začela 1. marca 2007, uradno posredoval 12. septembra 2007.
The Bank of Russia, the ECB and euro area NCBs have also engaged in close cooperation as a follow-up to the large-scale banking supervision training programme that was implemented between 2003 and 2005.
Poročilo vsebuje priporočila na področjih, kjer mora Central Bank of Bosnia and Herzegovina v naslednjih letih doseči napredek, da bi svoje standarde uskladila s standardi, ki jih je sprejel ESCB.
A new central bank cooperation programme, funded by the European Commission, is envisaged to
Program je financirala Evropska komisija prek programa pomoči Skupnosti za obnovo, razvoj in stabilizacijo (CARDS), usklajevala pa ga je ECB.
The President also appeared before a joint meeting of the European Parliament and the national parliaments to exchange views on economic convergence in the euro area.
1ODGOVORNOST DO ŠIRŠEJAVNOSTIIN EVROPSKEGA PARLAMENTA danju Evropskega parlamenta in nacionalnih parlamentov ter predstavil stališča o ekonomski konvergenci v euroobmočju.
Over the past decades, central bank independence has emerged as a fundamental component of the monetary policy frameworks of industrialised and emerging economies.
Tudi drugi člani Izvršilnega odbora so bili ob številnih priložnostih povabljeni, da nastopijo pred Evropskim parlamentom.
The decision to grant central banks independence is firmly grounded in economic theory and empirical evidence, both of which show that such a set-up is conducive to maintaining price stability.
Podpredsednik je pred Odborom za ekonomske in monetarne zadeve predstavil letno poročilo ECB za leto 2006.
In the case of an independent central bank, accountability can be understood as the obligation to explain how it used its powers and to justify its decisions to citizens and their elected representatives.
Gertrude Tumpel-Gugerell pa je pred navedenim odborom nastopila dvakrat, da bi predstavila informacije o novejših gibanjih na področju kliringa in poravnave vrednostnih papirjev ter o projektu Eurosistema TARGET2-Securities.
Other members of the Executive Board were also invited to appear before the European Parliament on a number of occasions.
Neodvisnost centralne banke se je v zadnjih desetletjih pokazala kot temeljna sestavina okvira denarne politike v industrijsko razvitih in nastajajočih gospodarstvih.
The Vice-President presented the ECB’s Annual Report 2006 to the Committee on Economic and Monetary Affairs.
Hkrati sodobne demokracije temeljijo na načelu, da morajo biti javni organi za svoja dejanja odgovorni širši javnosti, iz katere dejansko izhaja njihov mandat.
Gertrude Tumpel-Gugerell appeared twice before the Committee to provide information on recent developments in the field of securities clearing and settlement and the Eurosystem’s TARGET2-Securities project.
Pri neodvisni centralni banki lahko odgovornost razumemo kot obveznost, da banka državljanom in njihovim izvoljenim predstavnikom pojasni, kako uporablja svoja pooblastila, in utemelji svoje odločitve.
As in previous years, a delegation of the Committee on Economic and Monetary Affairs visited the ECB to exchange views with the members of the Executive Board.
Kakor v preteklih letih je delegacija članov Odbora za ekonomske in monetarne zadeve obiskala ECB in si izmenjala stališča s člani Izvršilnega odbora.
The ECB also continued its voluntary practice of replying to written questions from members of the European Parliament on issues related to the ECB’s fields of competence.
Poleg tega je ECB še naprej na prostovoljni podlagi odgovarjala na pisna vprašanja poslancev Evropskega parlamenta o zadevah, povezanih s področji njene pristojnosti.
The ECB has always fully acknowledged the fundamental importance of being accountable for its policy decisions and to this end has maintained a regular dialogue with EU citizens and the European Parliament.
ECB se vseskozi zaveda, kako pomembno je biti odgovoren za svoje odločitve o politikah, zato z državljani EU in Evropskim parlamentom vzdržuje reden dialog.
The ECB exceeds the reporting requirements laid down in the Treaty, for instance by publishing a Monthly Bulletin rather than the required quarterly report.
Pri tem presega zakonske zahteve glede poročanja, določene v Pogodbi ES, tako da na primer namesto zahtevanih četrtletnih poročil objavlja mesečni bilten.
It also holds a press conference following the first Governing Council meeting of the month.
Poleg tega po vsakem prvem zasedanju Sveta ECB v mesecu skliče tiskovno konferenco.
The ECB’s commitment to the principle of accountability is further illustrated by the numerous ECB publications released and the large number of speeches delivered by the members of the Governing Council during 2007, explaining the ECB’s decisions.
Zavezanost ECB načelu odgovornosti se kaže tudi v številnih publikacijah in govorih, ki so jih imeli člani Sveta ECB v letu 2007 ter z njimi pojasnjevali odločitve ECB.
At the institutional level, the European Parliament – as the body which derives its legitimacy directly from the citizens of the EU – plays a key role in holding the ECB to account.
Na institucionalni ravni ima Evropski parlament kot organ, katerega legitimnost neposredno izhaja iz državljanov EU, ključno vlogo pri pozivanju ECB k odgovornosti za svoja dejanja.