natgillin/translations-raw huggingface dataset:
The Government of the Republic of Slovenia (for: The Government Public Relations and Media Office) and Bank of Slovenia
Izdajatelja: Vlada Republike Slovenije (zanjo: Urad Vlade RS za informiranje) in Banka Slovenije
Editors-in-chief: Alenka Cebular Spela Majcen
Clavni urednici: Alenka Čebular Špela Majcen
Editorial board: Alenka Cebular, Nada Bizjak, Vladimir Djorovic, Natasa Kokoi Car, Spela Majcen, Darja Rabzelj
Uredniški odbor: Alenka Čebular, Nada Bizjak, Vladimir Djorovič, Nataša Kokol Car, Špela Majcen, Darja Rabzelj
Design by:
Oblikovanje:
REPUBLIC OF SLOVENIA GOVERNMENT OF THE REPUBLIC OF SLOVENIA
Urad za publikacije (Evropska komisija)
Produced with the support of the European Commision.
Izdajo publikacije je podprla Evropska komisija.
Publications Office
Publications.fit.im enoten denar
What is economic and monetary union?
Kaj je ekonomska in monetarna unija?
Generally, economic and monetary union (EMU) is part of the process of economic integration.
Ekonomska in monetarna unija (EMU) je, splošno rečeno, faza ekonomske integracije.
Independent states can integrate their economies to varying degrees in order to achieve the benefits of size, such as greater internal efficiency and more robustness to external events.
Neodvisne države lahko svoja gospodarstva bolj ali manj tesno povežejo v želji, da bi izkoristile določene prednosti, kot so boljša notranja učinkovitost in večja trdnost z ozirom na zunanje dogodke.
The degrees of economic integration can be divided into six steps.
Obstaja šest stopenj ekonomske integracije.
STEPS OF ECONOMIC INTEGRATION
FAZE EKONOMSKE INTEGRACIJE o
ECONOMIC INTEGRATION AND EMU IN EUROPE
EKONOMSKA INTEGRACIJA IN EMU V EVROPI
The degree of economic integration in the European Union (EU) varies.
Stopnja ekonomske integracije držav članic Evropske Unije je različna.
All Member States in the EU are part of what we call EMU and form a common market, known as the single market.
Vse države članice EU so del EMU in tvorijo skupni trg, znan pod imenom enotni trg.
They all coordinate their economic policymaking to support the aims of EMU.
Vse usklajujejo svoje ekonomske politike za dobrobit ciljev EMU.
Adopting the euro is an obligation laid down in the Treaty establishing the European Community (the Treaty or EC Treaty).
Prevzem eura je dolžnost, ki jo določa Pogodba o ustanovitvi Evropske skupnosti (Pogodba ali Pogodba ES).
Several Member States are more integrated and have adopted a single currency — the euro.
Te države pripadajo euroobmočju in imajo tako skupno valuto kot tudi enotno monetarno politiko – vodi jo Evropska centralna banka.
These countries form the euro area and, as well as the single currency, have a single monetary policy conducted by the European Central Bank.
Tiste države članice, ki niso del euroobmočja, imajo svoje lastne valute in same določajo svojo monetarno politiko.
Those Member States which are not part of the euro area retain their own currencies and conduct their own monetary policies.
Da bi dosegli popolno integracijo, bi morale vse države članice vstopiti v euroobmočje in uskladiti svoje javnofinančne politike, vključno z obdavčenjem, kot tudi druge ekonomske politike.
So, the degree of economic integration within EMU is a hybrid of steps 4 and 5 in the list above.
Francija, Belgija, Švica, Italija in Grčija so bile med letoma 1865 in 1927 povezane v Latinski monetarni uniji. Skandinavska monetarna unija je združevala Švedsko, Dansko in Norveško in je trajala od 1873 do 1924.
To reach complete economic integration would require all Member States to join the euro area and harmonise their fiscal policies, including taxation, and other economic policies.
Med najbolj uspešnimi zvezami je verjetno nemški „Zollverein“, ki se je oblikoval kot carinska unija med nemškimi kneževinami leta 1834 in v okviru katerega je nastala centralna banka, Reichsbank, in enotna valuta, Reichsmark (stara nemška marka), leta 1875.
The path to economic and monetary union: 1957 to 1999
Pot od ekonomske do monetarne unije: 1957 do 1999 mednarodni valutni trgi, na katere Unija ni imela vpliva, ovirali nastanek EMU.
The Community seeks economic prosperity and political development in EMU
Avtorji Rimske pogodbe so tako predpostavili, da bodo stabilne valute ostale pravilo in da bo temelje Evrope mogoče utrditi na doseganju carinske unije in skupnega trga, ki bo omogočal prost pretok blaga, storitev, ljudi in kapitala.
Against this troubling background, and with the customs union largely achieved, the Community was anxious to set itself new goals for political development during the next decade.
Ob tem zaskrbljujočem dogajanju in glede na to, da je bil projekt carinske unije do tedaj že v veliki meri uresničen, je skupnost oklevala pri postavljanju novih ciljev za politični razvoj v naslednjem desetletju.
The 1969 Barre Report, which proposed greater economic coordination, brought new impetus, and EMU became a formal goal at a summit in The Hague in 1969.
Nov zagon je leta 1969 prispevalo Barrovo poročilo, ki je predlagalo tesnejše gospodarsko sodelovanje in EMU je na Haaškem vrhu leta 1969 postala uradni cilj.
Europe’s leaders set up a high-level group under the then Luxembourg Prime Minister, Pierre Werner, to report on how EMU could be achieved by 1980.
Evropski voditelji so pod vodstvom takratnega luksemburškega premierja Pierra Wernerja ustanovili skupino na visoki ravni, ki je imela nalogo proučiti, kako doseči EMU do leta 1980.
The Werner Report — EMU in three stages
Wernerjevo poročilo – EMU v treh fazah
The Werner group submitted its final report in October 1970, setting out a three-stage process to achieve EMU within a 10-year period.
0 Wernerjeva skupina je svoje končno poročilo predstavila oktobra 1970.
The final objective would be irrevocably convertible currencies, free movement of capital, and the permanent locking of exchange rates — or possibly a single currency.
V njem je orisala tristopenjski postopek, ki naj bi privedel do nastanka EMU v obdobju desetih let. Končni cilj bi bile trdne konvertibilne valute, prosti pretok kapitala in trajna zamrznitev menjalnih tečajev – morda celo ena sama valuta.
To achieve this, the report called for closer economic policy coordination with interest rates and management of reserves decided at Community level, as well as agreed frameworks for national budgetary policies.
Da bi dosegli zastavljene cilje, je poročilo pozvalo k tesnejšemu usklajevanju ekonomske politike, v okviru katerega bi o obrestnih merah in o upravljanju z rezervami odločali na ravni skupnosti, ter predlagalo okvirje za nacionalne proračunske politike.
FROM THE WERNER REPORT TO THE EUROPEAN MONETARY SYSTEM: 1970 TO 1979
OD WERNERJEVEGA POROČILA DO EVROPSKEGA MONETARNEGA SISTEMA: 1970 DO 1979
While the Member States were divided over some of the report’s main recommendations, they agreed in principle in March 1971 on a three-stage approach to EMU.
Čeprav se države članice niso uspele uskladiti glede nekaterih glavnih priporočil poročila, so marca 1971 dosegle vsaj načelni dogovor glede oblikovanja EMU v treh fazah.
The first stage, narrowing of exchange-rate fluctuations, was to be tried on an experimental basis without any commitment to the other stages.
Prvo fazo, zmanjšanje nihanj menjalnih tečajev, naj bi izvedli poskusno in brez vsakršne zaveze glede drugih faz.
When the United States effectively floated the dollar from August 1971, the fresh wave of market instability put upward pressure on the Deutschmark and squashed hopes of tying the Community’s currencies more closely together.
Avgusta leta 1971, ko je dolar prešel pod režim efektivno drsečega menjalnega tečaja, je nov val tržne nestabilnosti povzročil pregrevanje nemške marke in pokopal upanje, da bi valute skupnosti med sabo tesneje povezali.
To retrieve the situation, in March 1972, the Member States created the ‘snake in the tunnel’ as a mechanism for managing fluctuations of their currencies (the snake) inside narrow limits against the dollar (the tunnel).
Položaj so države članice poskusile rešiti marca 1972 z oblikovanjem „kače v tunelu“, ki naj bi delovala kot mehanizem za uravnavanje nihanj njihovih valut (kača) znotraj ozkih meja v odnosu do dolarja (tunel).
Hit by oil crises, policy divergence and dollar weakness, within two years the snake had lost many of its component parts and was little more than a Deutschmark zone comprising Germany, Denmark and the Benelux countries.
V dveh letih – času, ki so ga prizadele naftne krize, politična razhajanja in šibek dolar – je kača izgubila večino svojih sestavnih delov; na koncu je bila z Nemčijo, Dansko in državami Beneluksa le malo večja od območja nemške marke.
The ‘quick death’ of the snake did not diminish interest in trying to create an area of currency stability.
„Hitra smrt“ kače ni odpravila želje za vzpostavitev območja valutne stabilnosti.
A new proposal for EMU was put forward in 1977 by the then President of the European Commission, Roy Jenkins.
Že leta 1977 je tedanji predsednik Evropske komisije, Roy Jenkins predstavil nov predlog za oblikovanje EMU.
It was taken up in a more limited form and launched as the European Monetary System (EMS) in March 1979 with the participation of all the Member States’ currencies except the pound sterling.
V omejeni obliki je bil uveden marca 1979 kot Evropski monetarni sistem (EMS), v katerega so bile vključene valute vseh držav članic, razen funta šterlinga.
FROM THE START OF EMS TO MAASTRICHT: 1979 TO 1991
OD ZAČETKA EMS DO MAASTRICHTSKE POGODBE: 1979 DO 1991
Controlling inflation becomes EC priority
Nadzor nad inflacijo postane prioriteta ES
The European Monetary System (EMS) was built on the concept of stable but adjustable exchange rates defined in relation to the newly created European currency unit (ECU) — a basket currency based on a weighted average of EMS currencies.
Evropski monetarni sistem (EMS) je bil utemeljen na konceptu stabilnih, toda prilagodljivih menjalnih tečajev, ki so bili določeni v razmerju do evropske obračunske enote (ECU) – novooblikovane valute na osnovi košarice, ki je izračunana kot tehtano povprečje valut EMS.
Within the EMS, currency fluctuations were controlled through the exchange rate mechanism (ERM) and kept within ±2.25% of the central rates, with the exception of the lira, which was allowed to fluctuate by ±6%.
Znotraj EMS so nihanja valut uravnavali z mehanizmom deviznih tečajev (MDT), tako da so se gibale v razponu ±2,25 % osrednjih tečajev, z izjemo lire, ki je lahko nihala ±6 %.
While the EMS’s primary purpose was to reduce exchange-rate instability which was seen as damaging to trade, investment and economic growth, its creation was undoubtedly helped by a new consensus among Member States that controlling and reducing inflation had to become an economic priority.
Medtem ko je bil osnovni namen EMS zmanjšati nestabilnost menjalnih tečajev, zaradi katere naj bi trpele trgovina, investicije in gospodarska rast, je k oblikovanju takšnega sistema nedvomno pripomogla uskladitev prepričanja med državami članicami, da mora nadzor nad cenami in zmanjševanje inflacije postati ekonomska prioriteta.
The EMS was a radical new departure because exchange rates could only be changed by mutual agreement of participating Member States and the Commission — an unprecedented transfer of monetary autonomy.
EMS je predstavljal bistven odmik od pretekle ureditve, saj je bilo menjalne tečaje mogoče spremeniti le z medsebojnim sporazumom sodelujočih držav članic in Komisije, kar je pomenilo prenos monetarne avtonomije brez primere.
EMS — a decade of success
EMS – desetletje uspeha
The single currency would complete the single market n u l l
Projekt EMU je spodbudil uresničitev enotnega trga, programa iz leta 1985, ki je imel za cilj odstraniti vse preostale ovire na poti do prostega pretoka blaga, storitev, ljudi in kapitala.
In the first few years, there were many realignments in the EMS.
V prvih nekaj letih je bilo potrebno EMS kar nekajkrat prilagoditi.
But by the time of the negotiations on the Maastricht Treaty in 1990–91, the EMS had proved a success.
Do pogajanj o Maastrichtski pogodbi v letih 1990–91 je že bilo jasno, da je sistem uspešen.
Short-term volatility of exchange rates between EC currencies was substantially reduced thanks to a mixture of converging inflation rates, interest rate management which targeted the exchange rate, joint intervention in the foreign exchange market and capital controls.
Kratkoročno nihanje menjalnih tečajev med valutami ES se je bistveno zmanjšalo zaradi pozitivnih vplivov podobnih stopenj inflacije, določanja obrestnih mer na podlagi ciljnih menjalnih tečajev, skupnega posredovanja na mednarodnih menjalnih trgih ter nadzora kapitala.
This success formed an encouraging backdrop to the discussions on EMU, together with the valuable experience in the joint management of exchange rates gained by the Community’s central banks.
Ta uspeh je, skupaj z dragocenimi izkušnjami centralnih bank Skupnosti pri skupnem uravnavanju menjalnih tečajev, pomenil spodbudno podlago za razprave o EMU.
The Delors Report recommends EMU in three stages
Delorsovo poročilo je predlagalo EMU v treh fazah
In June 1988, the European Council meeting at Hanover set up the Committee for the Study of Economic and Monetary Union, chaired by the then President of the Commission, Jacques Delors, and including all EC central bank governors.
Junija 1988 je Evropski Svet na zasedanju v Hannovru ustanovil Komisijo za ekonomsko in monetarno unijo, ki jo je vodil predsednik Evropske komisije, Jacques Delors, in v katero so bili vključeni vsi guvernerji centralnih bank ES.
Their unanimous report, submitted in April 1989, defined the monetary union objective as a complete liberalisation of capital movements, full integration of financial markets, irreversible convertibility of currencies, irrevocable fixing of exchange rates and the possible replacement of national currencies with a single currency.
V poročilu, ki so ga predstavili aprila 1989, so kot cilj monetarne unije soglasno določili popolno liberalizacijo pretoka kapitala, popolno integracijo finančnih trgov, nepreklicno konvertibilnost valut, dokončno zamrznitev menjalnih tečajev in, po možnosti, zamenjavo nacionalnih valut z eno samo valuto.
The report indicated that this could be achieved in three stages, moving from closer economic and monetary coordination to a single currency with an independent European Central Bank and rules to govern the size and financing of national budget deficits.
Jacques Delors, predsednik Evropske komisije od leta 1985 do leta 1995
Complete the internal market and remove restrictions on further financial integration.
Dokončanje notranjega trga in odstranitev omejitev za nadaljnjo
Establish the European Monetary Institute to strengthen central bank cooperation and prepare for the European System of Central Banks (ESCB).
Ustanovitev Evropskega monetarnega inštituta z nalogo okrepiti sodelovanje med centralnimi bankami in pripraviti vse potrebno za delovanje na Evropski sistem centralnih bank (ESCB).
Plan the transition to the euro.
Načrtovanje prehoda k euru.
Define the future governance of the euro area.
Določitev bodočega sistema upravljanja euroobmočja.
Achieve economic convergence between the Member States.
Doseganje ekonomskega zbliževanja med državami članicami.
Fix final exchange rates and transition to the euro.
Določitev končnih menjalnih tečajev in prehodno obdobje do eura. ECB in ESCB neodvisno vodita monetarno politiko.
Implement binding budgetary rules in the Member States.
In tako do Maastrichtske pogodbe
FROM MAASTRICHT TO THE EURO AND THE EURO AREA: 1991 TO 1999
OD MAASTRICHTSKE POGODBE DO EURA IN EUROOBMOČJA: 1991 DO 1999
With agreement on the goal (EMU) and the conditions (the Maastricht criteria), the European Union could now move forward.
Z dogovorom o cilju (EMU) in o pogojih (Maastrichtska merila) je lahko Evropska Unija naredila korak naprej.
The forerunner of the ECB, the EMI began to coordinate monetary policy among the national central banks, which the Maastricht Treaty required to be independent, as well as working on the details of the single currency.
Kot predhodnik Evropske centralne banke, je EMI začel z usklajevanjem monetarne politike med nacionalnimi centralnimi bankami, ki jih je Maastrichtska pogodba opredelila kot neodvisne inštitucije, kot tudi pripravljanjem podrobnosti v zvezi s skupno valuto.
The 1995 Madrid European Council agreed on the name for the new currency — the euro — and set out the scenario for the transition to the single currency that would start on 1 January 1999.
Leta 1995 je Evropski Svet na zasedanju v Madridu določil ime nove valute – euro – in izdelal scenarij za prehod na enotno valuto, ki naj bi se zgodil 1. januarja 1999.
In 1996, the EMI presented the winning designs for the euro banknotes.
Leta 1996 je EMI predstavil zmagovalno podobo bankovcev eura.
The coins followed shortly afterwards, all coins bearing a common European side, chosen by the public and confirmed by the 1997 Amsterdam Council, and a national side, the designs for which were chosen by each participating Member State individually.
Tem so kmalu sledili kovanci s skupno evropsko stranjo – po izboru javnosti jih je leta 1997 potrdil Svet v Amsterdamu – in nacionalno stranjo – izbrala jo je vsaka sodelujoča država članica sama.
The 1997 Amsterdam European Council agreed the rules and responsibilities of the Stability and Growth Pact (SGP) that aims to ensure budgetary discipline under EMU.
Leta 1997 je Evropski Svet v Amsterdamu določil pravila in obveznosti Pakta za stabilnost in rast (Stability and Growth Pact – SGP), katerega cilj je zagotovitev proračunske discipline v EMU.
The European Commission was given the key responsibility of monitoring adherence to the SGP.
Evropski Komisiji je bila poverjena naloga spremljati izpolnjevanje načel SGP-ja.
In May 1998, 11 Member States met the convergence criteria and thus formed the first wave of entrants who would go on to adopt the euro as their single currency.
Maja 1998 je 11 držav članic izpolnilo konvergenčna merila in se uvrstilo v prvi val držav, ki so prevzele euro kot svojo skupno valuto.
On 31 December 1998, the conversion rates between the euro and the currencies of the participating Member States were irrevocably fixed.
31. decembra 1998 so bili nepreklicno določeni menjalni tečaji med eurom in valutami sodelujočih držav članic. 1. januarja 1999 je bil uveden euro in Eurosistem, ki ga sestavljata ECB in nacionalne centralne banke (NCB) držav članic euroobmočja, je prevzel odgovornost za monetarno politiko v novem euroobmočju.
This was the beginning of a transitional period that was to last three years and end with the introduction of euro banknotes and coins and the withdrawal of national banknotes and coins.
To je bil začetek prehodnega obdobja, ki naj bi trajalo tri leta in se končalo z uvedbo bankovcev in kovancev eura ter umikom bankovcev in kovancev nacionalnih valut iz obtoka.
In 2000, the Council decided that Greece fulfilled the necessary conditions for the adoption of the single currency, and the country joined the euro area on 1January2001.
Leta 2000 se je Svet odločil, da je Grčija izpolnila zahtevane pogoje za prevzem skupne valute in država se je 1. januarja 2001 pridružila euroobmočju.
While the euro replaced national currencies immediately, with the national currency units becoming sub-units of the euro, it initially existed only as scriptural or ‘book‘ money.
Medtem ko je euro nacionalne valute zamenjal takoj, pri čemer so le-te postale podenote eura, je pravzaprav sprva obstajal le kot imaginarni ali „knjižni“ denar.
National currency banknotes and coins remained the means of everyday cash transactions.
Bankovci in kovanci nacionalnih valut so še naprej ostali sredstvo vsakodnevnih gotovinskih transakcij.
During the transitional period it was the world of business and finance that began to use the euro in their everyday cashless operations.
V prehodnem obdobju je bil poslovni in fi nančni svet tisti, ki je začel uporabljati eure pri svojih vsakodnevnih brezgotovinskih operacijah.
For the financial markets this transition happened immediately — the ground was well prepared and trading in financial markets was exclusively in euro.
Za finančne trge se je ta prehod zgodil takoj – podlaga je bila dobro pripravljena in trgovina znotraj finančnih trgov je delovala samo v eurih.
For administrations and business there was a longer transition period as they gradually switched their systems for accounting, pricing and payments over to the euro.
Administracija in poslovno področje sta doživela daljše prehodno obdobje, saj so postopoma prestavili svoje sisteme za računovodstvo, določanje cen in plačila v eure.
For citizens the most visible part of the transition was the appearance of dual pricing on labels in shops and petrol stations, etc.
Za državljane je bil najbolj vidni del prehoda pojav dvojnih cen na etiketah v trgovinah, na bencinskih črpalkah itd.
This was part of an extensive publicity campaign to familiarise the general public with the euro and the coming introduction of banknotes and coins.
To je bil del razširjene javne kampanje, ki naj bi širši javnosti približala euro in ji predstavila prihajajoče bankovce in kovance.
A NEW YEAR AND A NEW CURRENCY
NOVO LETO IN NOVA VALUTA k s p o r v
On 1 January 2002, the greatest cash changeover in history took place.
1. januarja 2002 se je zgodila največja menjava gotovine v zgodovini.
It was a challenge of unprecedented dimensions that involved the banking sector, cash-in-transit companies, retailers, the cash-operated machine industry, and the general public.
To je bil izziv brez primere, pri katerem so sodelovali bančni sektor, trgovci na drobno in debelo, sektor denarnih avtomatov in splošna javnost.
Around EUR144billion in euro cash was provided early by the national central banks to banks (frontloading) and by these banks to retailers (sub-frontloading) to avoid bottlenecks in the supply chain.
Nacionalne centralne banke so zagotovile okoli 144 milijard evrov v gotovini za banke in le-te so denar posredovale dalje trgovcem na drobno, da bi se izognili zastojem pri zagotavljanju gotovine.
This meant that euro cash was widely available in all sectors in the first days of 2002.
To je pomenilo, da so bili euri v gotovini dosegljivi v vseh sektorjih prvi dan leta 2002.
National banknotes and coins ceased to be legal tender by the end of February 2002 at the latest, and earlier in some Member States.
Nacionalni bankovci in kovanci so prenehali veljati najkasneje do konca februarja 2002, v nekaterih državah članicah pa že prej.
By that time, more than 6billion banknotes and close to 30billion national coins had been withdrawn, and for over 300million citizens in 12 countries the euro had finally arrived.
Do takrat je bilo iz prometa umaknjenih več kot 6 milijard bankovcev in približno 30 milijard nacionalnih kovancev, in za več kot 300 milijonov državljanov v 12-ih državah je končno prišel euro.
Managing economic and monetary union
Upravljanje ekonomske in monetarne unije
Like the single market, EMU is not an end in itself.
Tako kot enotni trg, tudi EMU ni sama po sebi cilj.
It is an instrument to further the objectives of the European Union — in particular, balanced and sustainable economic growth and high employment.
Je instrument za pospeševanje ciljev Evropske unije – zlasti uravnotežene in vzdržne ekonomske rasti ter visoke zaposlenosti.
The operations and institutions of EMU were designed from the outset to support these objectives through the management of the monetary and economic aspects of the euro area.
Postopki in institucije EMU so bili že od začetka oblikovani tako, da podpirajo te cilje preko vodenja monetarnih in ekonomskih vidikov euroobmočja.
The euro area has one currency with one monetary policy and independent, centralised decision making.
Euroobmočje ima eno valuto z eno monetarno politiko in z neodvisnim, centraliziranim odločanjem.
The ECB and the central banks of all EU Member States form the European System of Central Banks (ESCB).
ECB in centralne banke vseh držav članic EU tvorijo Evropski sistem centralnih bank (ESCB).
Within the ESCB, the ECB and the central banks of the euro area Member States form the Eurosystem.
Znotraj ESCB, ECB in centralne banke držav članic euroobmočja tvorijo Eurosistem.