Examples of using Nominal convergence in English and their translations into Finnish
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Real and nominal convergence of the accession countries.
We wish to ensure that there is both real and nominal convergence.
Nominal convergence could endanger real convergence. .
Further efforts are therefore needed to achieve the necessary nominal convergence.
Nominal convergence was, therefore, accompanied by real convergence. .
It would therefore be good to distinguish, Commissioner,between true convergence and nominal convergence.
Real and nominal convergence in accession countries: Selected issues.
The majority therefore accept the idea of joining, even thoughMalta does not fulfil all the nominal convergence criteria.
It is manifestly obvious that chasing after nominal convergence criteria cannot provide solutions for the problems of working people and society.
In this regard we call upon the Commission andthe Council to start a serious debate on the nominal convergence criteria.
The macro-economic fundamentals are improving, nominal convergence is progressing, but the hiatus in growth is persisting and unemployment remains at intolerable levels.
Moreover, candidate countries should pursue macro-economic policies andexchange rate strategies that are conducive to fostering real and nominal convergence.
If nominal convergence(fulfilment of the Maastricht Criteria) of economies moving towards the euro area was to be sustainable, it had to be backed up by real convergence. .
Exchange rate regimes constitute an important part of the overall economic- and monetary policy framework andshould be oriented towards achieving real- and sustainable 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.
The nominal convergence criteria will come into conflict with real divergence within the economies of the Member States, reflecting social conflicts and the relative and absolute degradation to which working people throughout Europe are being driven.
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.
The Cohesion Fund, we can now say, has been a major factor for real convergence, andhas provided a strong incentive for the beneficiary countries to comply with the nominal convergence criteria laid down at Maastricht.
The prospects for real andthereby sustainable nominal convergence will depend, inter alia, on these countries' commitment to pursuing, first, macro-economic stability and, second, financial stability, building on the progress that they have made to date.
With income levels of less than half of those of the EU-15 onaverage(see Graph 1), the main challenges for the new Member States are to secure realconvergence in the long-run, whilst at the same time achieving nominal convergence in the short tomedium term.
We still have reservations about'Euro Now',especially as regards the fact that the Union has opted to claim that there is nominal convergence between Member States before the event, when we would have preferred to see real convergence coming first.
At this time, the enlargement of the Eurozone is based on political criteria- for example the strengthening of political integration and of the Eurozone itself- as this issue amply demonstrates,given that Malta does not fulfil all of the nominal convergence criteria.
In this regard, it would seem that sustainable nominal convergence could not be judged before the economies of the candidate countries have demonstrated their capacity to successfully operate within the single market and liberalised capital movements, as was the case with existing Member States.
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.
We need to stop maintaining and strengthening the Stability Pact, giving priority to nominal convergence criteria, and we need to stop completely subjugating social policy to financial criteria and requirements before we can start talking about fundamental employment policies.
I would like to conclude by briefly referring to the Cohesion Fund, stressing- like Mr Collins- that the only reason for the Cohesion Fund is to contribute to strengthening economic andsocial cohesion, not to constitute a nominal convergence instrument in order to fulfil the requirements for joining the single currency.
At the same point, the report argues that nominal convergence has been accompanied by real convergence, in so far as there was a substantial decrease in inflation during the 1990s matched by a rise in GDP above the European average in the four cohesion countries during the second half of the 1990s.
Growth and stability-oriented macroeconomic policies: Including the importance of new member states achieving real and sustainable nominal convergence; sound budgetary positions; reduced current account deficits; and nominal wage increases consistent with both price stability and productivity gains.
The second point is that I believe that we should review the nominal convergence criteria, and we should ensure that we adapt the criteria to the new conditions, in particular the inflationary criteria and the method of calculating the benchmark, so that they will enable those new Member State economies that are very dynamic to join the Euro Zone.
While a sufficient degree of macroeconomic stability for economic agents to make decisions in a climate of stability and increased certainty exists in most countries, the prospects for real andthereby sustainable nominal convergence will depend, inter alia, on these countries' commitment to pursuing, first, macro-economic stability and, second, financial stability, building on the progress that they have made to date.