Examples of using Nominal convergence in English and their translations into Danish
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We wish to ensure that there is both real and nominal convergence.
We must do it because nominal convergence is to a large extent a prerequisite for true convergence. .
But the criteria for the Maastricht Treaty give an indication of nominal convergence.
And we must not do this just because nominal convergence is a prerequisite for the introduction of the single currency.
The lesson we can therefore draw from this,Madam President, is that achieving nominal convergence is not enough.
Nominal convergence is a necessary but not a sufficient condition for real convergence. .
Until now, we have been working on indicators of nominal convergence, which is in no way the same thing.
It would thereforebe good to distinguish, Commissioner, between true convergence and nominal convergence.
So nominal convergence is a necessary but not sufficient condition for real convergence. .
Moreover, pronounced regional disparities are a constraint on the scope for securing greater nominal convergence.
Further progress was made towards nominal convergence, with a steady reduction in inflation and interest rates in all Member States.
EMU, with all its advantages- including in particular for social andeconomic cohesion- is impossible without nominal convergence.
However, the criteria for achieving nominal convergence, however important they may be, are not enough for the achievement of true convergence. .
Mr President, what has surprised me most in this debate is that nothing shakes the faith of some Members in the rigidity of the criteria for nominal convergence.
Further progress was also made in 1996 towards nominal convergence, as interest rates con tinued to fall in all Member States.
Others believe that for the countries which are taking part in monetary union,the Cohesion Fund has achieved its objective and has made a fundamental contribution to nominal convergence.
Spain is making a great effort to achieve the nominal convergence objectives required for access to the single currency.
New Member States should also consider the extent to which the limitation of exchange rate flexibility may help anchor expectations and promote the pursuit of sound macroeconomic and structural policies,thus fostering real and nominal convergence.
Thus, for each Member State, fulfilment of the interest rate criterion is evidence of the Treaty's requirement that nominal convergence and exchange rate stability have been achieved on a durable basis.
A high degree of price stability andhealthy public finances- nominal convergence, in other words- are necessary conditions for growth, but will not in themselves be sufficient to ensure real convergence of incomes between the Member States and regions.
They are glossing over the fact that the vulnerability of the euro is the direct result of the policies they are practising: liberalisation of capital markets,unlimited financial speculation and the requirement of nominal convergence through the Stability and Growth Pact.
It has already been proved that the effort to fulfil the criteria for nominal convergence has negative results for development, reduces the GNP and leads to job losses on a dramatic scale.
Building European democracy means that economic and monetary union must take more account of the true situation in society andthe economy- an economy that respects thé environment- than is provided for by the nominal convergence indicators adopted in the Treaty of Maastricht.
The macro-economic fundamentals are improving, nominal convergence is progressing, but the hiatus in growth is persisting and unemployment remains at intolerable levels.
Therefore, no additional criteria for the adoption of the euro by the new Member States will be introduced, while at the same time there will be no relaxation of the criteria laid out in the Treaty,including the criteria concerning the sustainability of nominal convergence.
The Slovak authorities are aware of the situation with regard to the real and nominal convergence of the Slovak economy and its potential impact on future economic and inflationary development.
Apart from these substantial reasons, what is at stake is our credibility vis-à-vis a Treaty where the conditions of access to the Fund are made perfectly clear: a per capita GDP of less than 90% of theaverage Community GDP and the definition of a programme of nominal convergence.
Social and employment policies cannot remain subordinated to strict compliance with the criteria of nominal convergence and make it urgent to redefine the mandate and powers of the European Central Bank.
While noting an impressive level of nominal convergence, we should emphasize that, in point of fact, there are at least ten states which are not able to satisfy all the convergence criteria, criteria that are essential for launching the second stage of economic and monetary union.
A misplaced focus on enlargement, added to the social consequences of the so-called Stability Pact, and the conditions for nominal convergence, could become a serious obstacle to job creation, both in the Member States and in the candidate countries.