key terms - europa › media › 30489 › qc-32-12-017... · 2017-10-23 · key terms: financial...
TRANSCRIPT
EN
FEBRUARY 2012
Financial crisis
GEN
ERA
L SE
CR
ET
AR
IAT
OF
TH
E C
OU
NC
ILE
XPER
T S
ER
IES KEY TERMS
in 23 languages
Notice
This brochure is produced by the General Secretariat of the CouncilDirectorate-General A - Personnel and Administration Directorate 3 - Translation and Document Production.
This brochure is for information purposes only.
For any information on the European Council and the Council, you can consult the following websites:
www.european-council.europa.euwww.consilium.europa.eu
or contact the Public Information Department of the General Secretariat of the Council at the following address:
Rue de la Loi/Wetstraat 175 Tel: +32 228156501048 Bruxelles/Brussel Fax: +32 22814977BELGIQUE/BELGIË www.consilium.europa.eu/infopublic
More information on the European Union is available on the Internet (http://europa.eu).
Cataloguing data can be found at the end of this publication.
ISBN 978-92-824-3582-3doi:10.2860/22154
© European Union, 2012Reproduction is authorised provided the source is acknowledged.
Printed in Belgium
PRINTED ON ELEMENTAL CHLORINE-FREE BLEACHED PAPER (ECF)
Coverpage: © pincasso - Fotolia.com
Financial crisis
KEY TERMSin 23 languages
3
INTRODUCTION
KEY TERMS: FINANCIAL CRISIS
In today’s troubled times of economic and financial crisis, several specific terms recur constantly and are omnipresent in the media. These terms are frequently used by reporters, politicians and experts, but also by ordinary citizens. People hear phrases, read them and use them, since the subject they deal with affects all our daily lives. But do we really know what they mean - in lay terms? Even though it will not, of course, help us solve the crisis or mitigate its effects, it can enable us to understand better what the powers-that-be are trying to do about it and to make connections between the level of policy and what the crisis means for the average citizen.
The term “financial crisis” is applied broadly to a variety of situations in which all or most of a group of financial indicators, such as financial assets, experience an abrupt decline in value. But in today’s daily usage, it is mostly associated with the recent recession that started with the US subprime mortgage crisis in 2007. The
4
subprime mortgage crisis was set off when loans to subprime borrowers, which had previously registered high profits, turned sour as millions of borrowers were unable to keep up repayments on their loans and defaulted on their debts. Due to the close interconnectedness of the financial system, the turmoil caused by subprime mortgages in the US spread beyond American borders and had adverse effects on various countries around the world. This was the first trigger for a severe economic recession, which has developed into the worst economic crisis since the 1930s. As a result, some market segments faced severe liquidity problems, large financial institutions were exposed to significant losses, and governments had to step in to provide financial support. The volume of reserves made available to bail out failing companies and institutions is unprecedented. These events have challenged policy-makers around the globe and posed an unprecedented test for the countries of the European Union.
The economic recession and subsequent events in the European Union have demonstrated that financial distress in one country can rapidly put general macro-financial stability at risk. Therefore, decisive and coordinated action among Member States was initiated to preserve financial
5
stability and reinforce economic governance. Various mechanisms and instruments are being created and put in place to deal with the consequences of the financial crunch and prevent future crises. They all aim to enhance economic and financial governance, strengthen the single market and ensure the lasting stability of the euro area. These mechanisms and instruments include, among others, several newly-created funding programmes and new reform packages to improve the fiscal strength of European countries.
Very often the expressions used are acronyms of complex English terms or economic indicators used to describe a country’s economic standing. Thus, general dictionaries of English do not adequately describe their meanings. This glossary can therefore not only provide a useful reference for appropriate equivalents to English terms, but also serve as a valuable tool for obtaining a better understanding of what is being reported in the news, ongoing discussions about policy-making processes and the general public discourse.
Petr BlizkovskyDirector, Economic and Regional Affairs
General Secretariat of the Council of the European Union
6
EN financial crisis
Disturbance to financial markets, associated typically with falling asset prices and insolvency among debtors and intermediaries, which spreads through the financial system, disrupting the market’s capacity to allocate capital.
BG финансова криза
CS finanční krize
DA finanskrise
DE Finanzkrise
EL χρηματοπιστωτική κρίση
ES crisis financiera
ET finantskriis
FI finanssikriisi
FR crise financière
GA géarchéim airgeadais
HU pénzügyi válság
7
IT crisi finanziaria
LT finansų krizė
LV finanšu krīze
MT kriżi finanzjarja
NL financiële crisis
PL kryzys finansowy
PT crise financeira
RO criză financiară
SK finančná kríza
SL finančna kriza
SV finanskris
8
BG ограничаване на кредитирането CS zamrznutí úvěrového trhu
DA kreditklemme
DE Kreditklemme Kreditverknappung
EL πιστωτική ασφυξία μείωση της προσφοράς πιστώσεων
ES restricción del crédito contracción del crédito
ET laenuturu kriis krediidi kokkukuivamine
FI luottolama
FR crise du crédit raréfaction du crédit
EN credit crunch
A situation in which there is a generalised reduction in the availability of loans and other types of financing from banks and capital markets at given interest rates, owing to, amongst other possible factors, an increased perception of risk on the part of lenders, which results in heightened risk to the functioning of significant parts of the financial system, as well as to businesses dependent on credit.
9
GA géarchor creidmheasa
HU hitelszűke
IT contrazione del credito erosione del credito
LT kreditų krizė
LV kredītkrīze
MT kriżi tal-kreditu
NL kredietschaarste kredietkrapte
PL zapaść kredytowa
PT contração do crédito
RO criză a creditelor
SK úverová kríza
SL kreditni krč
SV kreditåtstramning
10
BG европейски семестър за координация на икономическите политики
CS evropský semestr pro koordinaci hospodářských politik
DA europæisk semester for samordning af de økonomiske politikker
DE Europäisches Semester für die Koordinierung der Wirtschaftspolitik
EL Ευρωπαϊκό εξάμηνο για τον συντονισμό της οικονομικής πολιτικής
ES Semestre Europeo para la coordinación de políticas económicas
ET majanduspoliitika koordineerimise Euroopa poolaasta
FI talouspolitiikan eurooppalainen ohjausjakso
FR semestre européen pour la coordination des politiques économiques
EN European Semester for economic policy coordination
Six-month cycle every year (running from December to June) during which the Member States’ budgetary and structural policies are reviewed to detect any inconsistencies and emerging imbalances with the aim of reinforcing policy coordination while major budgetary decisions are still under preparation.
11
GA an Seimeastar Eorpach um chomhordú an bheartais eacnamaíoch
HU a gazdaságpolitikai koordináció európai szemesztere
IT semestre europeo per il coordinamento delle politiche economiche
LT Europos ekonominės politikos koordinavimo semestras
LV Eiropas ekonomikas politikas koordinēšanas pusgads
MT Semestru Ewropew għall-koordinazzjoni tal-politika ekonomika
NL Europees semester voor coördinatie van het economisch beleid
PL europejski semestr na rzecz koordynacji polityki gospodarczej
PT Semestre Europeu para a coordenação das políticas económicas
RO semestru european pentru coordonarea politicilor economice
SK európsky semester pre koordináciu hospodárskych politík
SL evropski semester za usklajevanje ekonomskih politik
SV europeisk termin för samordningen av den ekonomiska politiken
12
BG пакт „Евро плюс“
CS Pakt euro plus
DA europluspagten
DE Euro-Plus-Pakt
EL σύμφωνο για το ευρώ +
ES Pacto por el Euro Plus
ET laiendatud euroala pakt
FI Euro Plus -sopimus
FR pacte pour l’euro plus
GA an Comhshocrú Euro Plus
HU Euró Plusz Paktum
EN Euro Plus Pact
A pact to strengthen the economic pillar of the Economic and Monetary Union by committing countries (all euro area countries and some Member States outside the euro area) that have signed up to it to closer economic policy coordination.
13
IT Patto euro plus
LT paktas „Euro plius“
LV pakts “Euro plus”
MT Patt Euro Plus
NL Euro Plus-pact PL pakt euro plus
PT Pacto para o Euro Mais
RO Pactul euro plus
SK Pakt Euro Plus
SL Pakt “evro plus”
SV europluspakten
14
BG Европейски механизъм за стабилност
CS Evropský mechanismus stability
DA europæisk stabilitetsmekanisme
DE Europäischer Stabilitätsmechanismus
EL Ευρωπαϊκός Μηχανισμός Σταθερότητας
ES Mecanismo Europeo de Estabilidad
ET Euroopa stabiilsusmehhanism
FI Euroopan vakausmekanismi
FR Mécanisme européen de stabilité
GA an Sásra Cobhsaíochta Eorpach
HU európai stabilitási mechanizmus
EN European Stability Mechanism (ESM)
Permanent crisis mechanism with the aim of safeguarding the financial stability of the euro area as a whole, to be activated when necessary from mid-2012 onwards.
15
IT meccanismo europeo di stabilità
LT Europos stabilumo mechanizmas
LV Eiropas stabilizācijas mehānisms
MT Mekkaniżmu Ewropew ta’ Stabbiltà
NL Europees stabiliteitsmechanisme
PL europejski mechanizm stabilności
PT Mecanismo Europeu de Estabilidade
RO Mecanismul european de stabilitate
SK Európsky mechanizmus pre stabilitu
SL evropski mehanizem za stabilnost
SV Europeiska stabilitetsmekanismen
16
BG европейски механизъм за финансово стабилизиране
CS evropský mechanismus finanční stabilizace
DA europæisk finansiel stabiliseringsmekanisme
DE Europäischer Finanzstabilisierungsmechanismus
EL Ευρωπαϊκός Μηχανισμός Χρηματοοικονομικής Σταθεροποίησης
ES Mecanismo Europeo de Estabilización Financiera
ET Euroopa finantsstabiilsusmehhanism
FI Euroopan rahoituksenvakautusmekanismi
FR mécanisme européen de stabilisation financière
GA an Sásra Cobhsaíochta Airgeadais Eorpach
EN European Financial Stabilisation Mechanism (EFSM)
Part of the EU safety net along with the European Financial Stability Facility and other schemes, its purpose is to grant Union financial assistance in the form of a loan or credit line to a Member State experiencing or seriously threatened with a severe economic or financial disturbance caused by exceptional occurrences beyond its control.
17
HU európai pénzügyi stabilizációs mechanizmus
IT meccanismo europeo di stabilizzazione finanziaria
LT Europos finansinės padėties stabilizavimo priemonė
LV Eiropas finanšu stabilizācijas mehānisms
MT Mekkaniżmu Ewropew ta’ Stabbilizzazzjoni Finanzjarja
NL Europees financieel stabilisatiemechanisme
PL europejski mechanizm stabilizacji finansowej
PT Mecanismo Europeu de Estabilização Financeira
RO Mecanismul european de stabilizare financiară
SK európsky finančný stabilizačný mechanizmus
SL evropski mehanizem za finančno stabilizacijo
SV Europeiska finansiella stabiliseringsmekanismen
18
BG Европейски инструмент за финансова стабилност
CS Evropský nástroj finanční stability
DA europæisk finansiel stabilitetsfacilitet
DE Europäische Finanzstabilisierungsfazilität
EL Ευρωπαϊκό Ταμείο Χρηματοοικονομικής Σταθερότητας
ES Facilidad Europea de Estabilización Financiera
Fondo Europeo de Estabilidad Financiera
ET Euroopa Finantsstabiilsuse Fond
FI Euroopan rahoitusvakausväline
EN European Financial Stability Facility (EFSF)
One of the temporary mechanisms making up the EU safety net, along with the European Financial Stabilisation Mechanism and other schemes, it takes the form of a special purpose vehicle legally established by euro area Member States in June 2010 to issue bonds and provide loans in conjunction with the International Monetary Fund to cover the financing needs of euro area Member States in difficulty, subject to conditionality.
19
FR Fonds européen de stabilité financière
GA an tSaoráid Chobhsaíochta Airgeadais Eorpach
HU Európai Pénzügyi Stabilitási Eszköz
IT fondo europeo di stabilità finanziaria
LT Europos finansinio stabilumo fondas
LV Eiropas Finanšu stabilitātes instruments
MT Faċilità Ewropea ta’ Stabbiltà Finanzjarja
NL Europese Faciliteit voor financiële stabiliteit
PL Europejski Instrument Stabilności Finansowej
PT Fundo Europeu de Estabilidade Financeira
RO Fondul european de stabilitate financiară
SK Európsky nástroj finančnej stability
SL evropski instrument za finančno stabilnost
SV Europeiska finansiella stabiliseringsfaciliteten
20
BG годишен обзор на растежа
CS roční analýza růstu
DA årlig vækstundersøgelse
DE Jahreswachstumsbericht
EL ετήσια επισκόπηση της ανάπτυξης
ES Estudio Prospectivo Anual sobre el Crecimiento
ET iga-aastane majanduskasvu analüüs
FI vuotuinen kasvuselvitys
FR examen annuel de la croissance
GA an Suirbhé Bliantúil Fáis
HU éves növekedési jelentés
EN Annual Growth Survey (AGS)
Review by the Commission of the economic challenges for the EU and the euro area as a whole, undertaken as the first stage in the European Semester cycle.
21
IT analisi annuale della crescita
LT metinė augimo apžvalga
LV gada izaugsmes pētījums
MT Stħarriġ Annwali dwar it-Tkabbir
NL jaarlijkse groeianalyse
PL roczna analiza wzrostu gospodarczego
PT Análise Anual do Crescimento
RO analiză anuală a creșterii
SK ročný prieskum rastu
SL letni pregled rasti
SV årlig tillväxtöversikt
22
BG икономическо управление
CS správa ekonomických záležitostí
DA økonomisk styring
DE wirtschaftspolitische Steuerung
EL οικονομική διακυβέρνηση
ES gobierno económico gobernanza económica
ET majanduse juhtimine
FI talouden ohjaus ja hallinta talouden ohjausjärjestelmä
FR gouvernance économique
GA rialachas eacnamaíoch
HU gazdasági kormányzás
EN economic governance
The collection of policies, laws, regulations, institutions, practices and individuals that shape the context in which a country’s economic activity takes place.
23
IT governance economica
LT ekonomikos valdysena
LV ekonomikas pārvaldība
MT governanza ekonomika
NL economische governance economisch bestuur
PL zarządzanie gospodarcze
PT governação económica
RO guvernanţă economică
SK správa ekonomických záležitostí hospodárske riadenie
SL ekonomsko upravljanje
SV ekonomisk styrning
24
BG пакет за икономическото управление
CS balíček šesti právních aktů týkajících se správy ekonomických záležitostí
DA pakke om økonomisk styring sixpack
DE Gesetzgebungspaket zur wirtschaftspolitischen Steuerung
EL δέσμη μέτρων για την οικονομική διακυβέρνηση
ES conjunto de medidas legislativas sobre el gobierno económico
conjunto de medidas de gobernanza económica
ET majanduse juhtimise pakett
FI talouspolitiikan ohjauspaketti
FR paquet législatif relatif à la gouvernance économique
GA pacáiste an rialachais eacnamaíoch an sé-phaca
EN economic governance package six-pack
Six legislative measures aimed at strengthening the Stability and Growth Pact, preventing and correcting macroeconomic imbalances, and establishing national fiscal frameworks of quality.
25
HU a gazdasági kormányzásról szóló jogszabálycsomag
hatos csomag
IT pacchetto sulla governance economica
LT ekonomikos valdysenos dokumentų rinkinys
šešių dokumentų rinkinys
LV sešu tiesību aktu kopums par ekonomikas pārvaldību
“sešnieks” MT pakkett dwar il-governanza
ekonomika
NL pakket economische governance
pakket economisch bestuur
sixpack
PL pakiet dotyczący zarządzania gospodarczego
“sześciopak”
PT pacote da governação económica
“pacote de seis”
RO pachet privind guvernanţa economică
SK balík šiestich legislatívnych aktov o správe ekonomických záležitostí
SL zakonodajni paket o ekonomskem upravljanju
šesterček
SV paket med sex lagstiftningsakter om ekonomisk styrning
26
BG програма за стабилност
CS program stability
DA stabilitetsprogram
DE Stabilitätsprogramm
EL πρόγραμμα σταθερότητας
ES programa de estabilidad
ET stabiilsusprogramm
FI vakausohjelma
FR programme de stabilité
GA clár cobhsaíochta
HU stabilitási program
EN stability programme
Medium-term programme presented by a euro area Member State that contains economic and budgetary information monitored by the Council under the multilateral surveillance procedure set out in Article 121 of the Treaty.
27
IT programma di stabilità
LT stabilumo programa
LV stabilitātes programma
MT programm ta’ stabbiltà
NL stabiliteitsprogramma
PL program stabilności
PT Programa de Estabilidade
RO program de stabilitate
SK program stability
SL program za stabilnost
SV stabilitetsprogram
28
BG национална програма за реформи
CS národní program reforem
DA nationalt reformprogram
DE nationales Reformprogramm
EL εθνικό πρόγραμμα μεταρρυθμίσεων
ES Programa Nacional de Reformas
ET riiklik reformikava
FI kansallinen uudistusohjelma
FR programme national de réforme
GA Clár Athchóirithe Náisiúnta
HU nemzeti reformprogram
EN National Reform Programme (NRP)
Programme to be submitted by the Member States as part of the Europe 2020 strategy, outlining their structural reform plans and focusing on promoting growth and employment.
29
IT programma nazionale di riforma
LT nacionalinė reformų programa
LV valsts reformu programma
MT Programm Nazzjonali ta’ Riforma
NL nationaal hervormingsprogramma
PL krajowy program reform
PT Programa Nacional de Reformas
RO program naţional de reformă
SK národný program reforiem
SL nacionalni program reform
SV nationellt reformprogram
30
BG финансова стабилност
CS finanční stabilita
DA finansiel stabilitet
DE Stabilität des Finanzsystems Finanzsystemstabilität
EL χρηματοπιστωτική σταθερότητα
ES estabilidad financiera
ET finantsstabiilsus
FI rahoitusvakaus
FR stabilité financière
GA cobhsaíocht airgeadais
HU pénzügyi stabilitás
EN financial stability
Situation in which the financial system is able to withstand shocks without giving way to cumulative processes which impair the allocation of savings to investment opportunities and the processing of payments in the economy.
31
IT stabilità finanziaria
LT finansinis stabilumas
LV finanšu stabilitāte
MT stabbiltà finanzjarja
NL financiële stabiliteit
PL stabilność finansowa
PT estabilidade financeira
RO stabilitate financiară SK finančná stabilita
SL finančna stabilnost
SV finansiell stabilitet
32
BG суверенен дълг
CS státní dluh
DA statsgæld
DE Staatsschuld Staatsanleihen
EL κρατικό ομόλογο
ES deuda soberana
ET riigi võlakohustus riigivõlg
FI valtion velka
FR dette souveraine
GA fiachas ceannasach
HU állampapír
EN sovereign debt
Debt issued by or guaranteed by a national government.
33
IT debito sovrano
LT valstybės skola
LV valsts parāda vērtspapīri
MT dejn sovran
NL overheidsschuld staatsschuld
PL dług państwowy
PT dívida soberana
RO datorie suverană
SK štátny dlh
SL državni dolg
SV statspapper
34
BG дългово съотношение
CS poměr dluhu k HDP
DA gæld i forhold til BNP gældskvotient
DE Schuldenstandsquote Schuldenquote
EL λόγος δημοσίου χρέους προς ΑΕγχΠ
ES ratio de deuda
proporción entre la deuda pública y el producto interior bruto
ET võla suhe SKPsse
FI velka suhteessa BKT:hen velkasuhde
FR rapport dette-PIB ratio d’endettement
GA an cóimheas fiachais-OTI an cóimheas fiachais
EN debt-GDP ratio debt ratio
Ratio of government debt to gross domestic product (GDP).
35
HU GDP-arányos államadósság adósságráta
IT rapporto debito/PIL indice di indebitamento
LT skolos santykis su BVP
LV parāda attiecība pret IKP
MT proporzjon tad-dejn għall-PDG proporzjon tad-dejn
NL schuld-bbp-ratio schuldquote
PL wskaźnik zadłużenia
PT rácio dívida/PIB rácio da dívida
RO ponderea datoriei în PIB rata datoriei
SK pomer dlhu k HDP
SL delež dolga delež javnega dolga v BDP
SV skuldsättningen i den offentliga sektorn i procent av bruttonationalprodukten
skuldkvot
36
BG облигация
CS dluhopis
DA obligation
DE Schuldverschreibung Anleihe
EL ομόλογο
ES obligación bono
ET võlakiri
FI joukkovelkakirja
FR obligation
GA banna
HU kötvény
EN bond
Debt security which entitles its holder to receive interest payments on specified dates following its date of issue and to repayment of its face value at the end of its term to maturity.
37
IT obbligazione
LT obligacija
LV obligācija
MT bond
NL obligatie
PL obligacja
PT obrigação
RO obligaţiune
SK dlhopis
SL obveznica
SV obligation
38
BG доходност на държавни ценни книжа
CS výnos státních dluhopisů
DA afkast af statsobligationer
DE Staatsanleiherendite
EL απόδοση κρατικών ομολόγων
ES rendimiento de la deuda pública
ET riigivõlakirjade tootlus
FI valtion joukkolainojen tuotto
FR rendement des obligations d’État rendement des obligations souveraines
GA toradh bannaí rialtais
HU államkötvényhozam
EN government bond yield
Rate of return on government debt securities.
39
IT rendimento dei titoli di Stato
LT vyriausybės obligacijų pajamingumas
LV valsts obligāciju ienesīgums
MT rendiment tal-bonds tal-gvern
NL rendement op overheidsobligaties
PL dochód z obligacji skarbowych
PT rendimento das obrigações do Estado
RO randamentul obligaţiunilor de stat
SK výnosy zo štátnych dlhopisov
SL donos državnih obveznic
SV avkastning på statsobligationer
40
BG спред на доходност на държавните ценни книжа
CS výnosový spread státního dluhopisu
DA rentespænd mellem statsobligationer
DE Renditeabstand zwischen Staatsanleihen
EL διαφορικό επιτόκιο των κρατικών ομολόγων
ES diferencial de rentabilidad de la deuda soberana
diferencial de rentabilidad de los bonos soberanos
ET riigivõlakirjade tootluse vahe
FI valtion joukkolainojen korkoero
FR écart de rendement des obligations d’État
écart de rendement des obligations souveraines
GA raon difríochta thorthaí na mbannaí rialtais
HU államkötvény hozamfelára
EN sovereign bond spread government bond yield spread
Difference between yields of bonds issued on international markets by the country in question and of those offered by a reference country (in particular Germany).
41
IT differenziale di rendimento sul debito sovrano
differenziale di rendimento dei titoli di Stato
LT vyriausybės obligacijų pajamingumo skirtumas
LV valsts obligāciju ienesīguma starpība
MT differenza fir-rendimenti tad-dejn sovran
differenza fir-rendimenti tal-bonds tal-gvern
NL verschil tussen de rendementen op overheidsobligaties
verschil tussen de rendementen op staatsobligaties
PL spread rentowności obligacji skarbowych
PT diferencial das obrigações soberanas
diferencial de rendimento das obrigações soberanas
RO spread-urile randamentelor obligaţiunilor suverane
spread-urile randamentelor obligaţiunilor de stat
SK riziková prirážka k štátnym dlhopisom
SL razlika v donosu državnih obveznosti
pribitek donosnosti
SV avkastningsskillnad mellan statsobligationer
42
BG базисен пункт
CS bazický bod
DA basispoint
DE Basispunkt
EL μονάδα βάσης
ES punto básico
ET baaspunkt
FI (perus)piste
FR point de base
GA bonnphointe
HU bázispont
IT punto base
EN basis point (bp)
A commonly used unit of measurement of changes or differences in interest rates. It is defined as 1 percent of 1 percentage point, so that a 50 basis points rise in the rate of interest means a rise by 0.5 percentage points.
43
LT bazinis punktas
LV bāzes punkts
MT punt bażi
NL basispunt
PL punkt bazowy
PT ponto-base ponto de base
RO punct de bază
SK bázický bod
SL bazična točka
SV räntepunkt
44
BG експозиция на риск
CS expozice vůči riziku
DA risikoeksponering
DE Risikoposition finanzielles Engagement
EL ανάληψη κινδύνων άνοιγμα
ES exposición al riesgo
ET riskipositsioon
FI riskisijoitusten määrä
FR exposition à un risque exposition au risque
GA neamhchosaint ar riosca
HU kitettség
IT esposizione al rischio
EN exposure to risk
The amount of risk the holder of an asset or security has as a consequence of holding the security or asset.
45
LT pozicija pozicijos rizika
LV riska apjoms risks
MT skopertura għar-riskju esponiment għar-riskju
NL risico exposure
PL ekspozycja na ryzyko
PT exposição ao risco
RO expunere la risc
SK expozícia voči riziku
SL izpostavljenost tveganju
SV riskexponering
46
BG матуритет
CS splatnost doba do splatnosti
DA løbetid
DE Laufzeit
EL λήξη
ES vencimiento plazo de amortización
ET lunastustähtaeg
FI maturiteetti erääntymisaika
FR maturité GA aibíocht HU futamidő
EN maturity period maturity
The period of time after which a financial instrument or loan matures (i.e. becomes due for settlement).
47
IT maturazione
LT grąžinimo terminas išpirkimo terminas
LV termiņš
MT perijodu ta’ maturità
NL looptijd
PL okres zapadalności
PT prazo de vencimento
RO scadenţă
SK splatnosť
SL zapadlost dospelost
SV löptid
48
BG падеж
CS datum splatnosti
DA forfaldsdato termin
DE Fälligkeitstermin Fälligkeit
EL ημερομηνία λήξης
ES fecha de vencimiento
ET lunastustähtpäev
FI erääntymispäivä
FR date d’échéance échéance
GA dáta aibíochta
HU lejárat
IT data di scadenza scadenza
EN maturity date maturity
Date on which the principal amount of a note, draft, acceptance bond or other debt instrument becomes due and is repaid to the investor and interest payments stop.
49
LT išpirkimo data termino suėjimo diena
LV dzēšanas termiņš beigu termiņš
MT data ta’ maturità
NL vervaldatum PL termin zapadalności
PT data de vencimento
RO scadenţă
SK splatnosť dátum splatnosti
SL datum zapadlosti datum dospelosti
SV förfallodag
50
BG обвързаност с условия
CS podmíněnost
DA konditionalitet
DE Auflagengebundenheit Konditionalität
EL προϋποθέσεις
ES condicionalidad
ET tingimuslikkus
FI ehdollisuus
FR conditionnalité
GA coinníollacht
HU feltételrendszer
EN conditionality
The practice by which the International Monetary Fund, World Bank or other donor makes its loans conditional on the borrowing country adopting an approved adjustment programme or policy package, or the conditions themselves.
51
IT condizionalità
LT sąlygos
LV nosacījumi
MT kondizzjonalità
NL conditionaliteit
PL warunkowość
PT condicionalidade
RO condiţionalitate
SK podmienenosť
SL pogojevanje
SV villkorlighet
52
BG общ държавен дефицит
CS schodek veřejných financí rozpočtový schodek
DA offentligt underskud budgetunderskud
DE Haushaltsdefizit öffentliches Defizit
EL δημόσιο έλλειμμα
ES déficit público
ET valitsemissektori eelarve puudujääk
FI julkisen talouden alijäämä
FR déficit public déficit budgétaire
GA easnamh an rialtais easnamh sa bhuiséad
HU költségvetési hiány
EN government deficit budget deficit
Excess of government spending over government revenue in a given year.
53
IT disavanzo pubblico deficit di bilancio
LT valdžios sektoriaus deficitas biudžeto deficitas
LV valsts budžeta deficīts budžeta deficīts
MT defiċit tal-gvern defiċit baġitarju
NL overheidstekort begrotingstekort
PL deficyt publiczny deficyt budżetowy
PT défice público défice orçamental
RO deficit public deficit bugetar
SK deficit verejných financií rozpočtový deficit
SL javnofinančni primanjkljaj proračunski primanjkljaj
SV offentligt underskott budgetunderskott
54
BG платежен баланс
CS platební bilance
DA betalingsbalance
DE Zahlungsbilanz
EL ισοζύγιο πληρωμών
ES balanza de pagos
ET maksebilanss
FI maksutase
FR balance des paiements
GA comhardú na n-íocaíochtaí
HU fizetési mérleg
EN balance of payments
A periodic (usually annual) statement of the money value of a country’s transactions with the rest of the world.
55
IT bilancia dei pagamenti
LT mokėjimų balansas
LV maksājumu bilance
MT bilanċ tal-pagamenti
NL betalingsbalans
PL bilans płatniczy
PT balança de pagamentos
RO balanţă de plăţi
SK platobná bilancia
SL plačilna bilanca
SV betalningsbalans
56
BG кредитен рейтинг
CS rating úvěrové hodnocení
DA kreditvurdering
DE Rating Bonitätsbeurteilung
EL αξιολόγηση πιστοληπτικής ικανότητας
ES calificación de solvencia calificación crediticia
ET krediidireiting
FI luottoluokitus
FR note notation de crédit
GA rátáil chreidmheasa
HU hitelminősítés
EN credit rating
Credit rating agency’s opinion of how likely an issuer is to repay, in a timely fashion, a particular debt or financial obligation, or its debts generally.
57
IT rating del credito valutazione del merito di credito
LT kredito reitingas kredito rizikos vertinimas
LV kredītreitings
MT klassifikazzjoni tal-kreditu
NL kredietbeoordeling
PL rating kredytowy
PT notação de risco notação de risco de crédito
RO rating de credit
SK rating SL bonitetna ocena
SV kreditbetyg
58
BG кредитен риск
CS úvěrové riziko riziko selhání
DA kreditrisiko misligholdelsesrisiko
DE Kreditrisiko Ausfallrisiko
EL πιστωτικός κίνδυνος
ES riesgo de crédito riesgo de impago
ET krediidirisk maksejõuetuse risk FI luottoriski
FR risque de crédit risque de défaillance
GA riosca mainneachtana
HU hitelkockázat
EN credit risk default risk
The risk that an issuer of debt securities or a borrower may default on its obligations, or that payment may not be made on a negotiable instrument.
59
IT rischio di credito rischio di inadempienza
LT kredito rizika įsipareigojimų neįvykdymo rizika
LV kredītrisks
MT riskju ta’ kreditu riskju ta’ inadempjenza
NL kredietrisico wanbetalingsrisico
PL ryzyko kredytowe
PT risco de crédito risco de incumprimento
RO risc de credit
SK kreditné riziko riziko zlyhania
SL kreditno tveganje
SV kreditrisk
60
BG ликвиден риск
CS riziko likvidity
DA likviditetsrisiko
DE Liquiditätsrisiko
EL κίνδυνος ρευστότητας
ES riesgo de liquidez
ET likviidsusrisk
FI maksuvalmiusriski
FR risque de liquidité risque d’illiquidité
GA riosca neamhleachtachta
HU likviditási kockázat
EN liquidity risk
The risk of being unable to raise funding or sell or pledge assets when needed without incurring a significant cost.
61
IT rischio di liquidità
LT likvidumo rizika
LV likviditātes risks
MT riskju ta’ likwidità
NL liquiditeitsrisico
PL ryzyko utraty płynności
PT risco de liquidez
RO risc de lichiditate
SK riziko likvidity
SL likvidnostno tveganje
SV likviditetsrisk
62
BG неизпълнение на задължението за плащане
CS selhání
DA betalingsmisligholdelse
DE Zahlungsausfall Zahlungsverzug
EL αδυναμία πληρωμής
ES impago suspensión de pagos
ET maksejõuetus
FI maksulaiminlyönti
FR défaut de paiement
GA mainneachtain íocaíochta
HU nemteljesítés
EN default of payment default
Failure to meet a debt obligation payment, either principal or interest.
63
IT inadempienza di pagamento
LT mokėjimo įsipareigojimų neįvykdymas
LV maksājumu saistību nepildīšana
MT inadempjenza fil-pagament
NL wanbetaling
PL zwłoka w płatności
PT incumprimento de pagamento incumprimento
RO nerespectare a obligaţiilor de plată neîndeplinire a obligaţiilor de plată
SK zlyhanie
SL neplačilo
SV betalningsinställelse
64
INDEXTerm . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page
Annual Growth Survey (AGS) . . . . . . . . . . . .20
balance of payments. . . . . . . . . . . . . . . . . . . . .54
basis point (bp) . . . . . . . . . . . . . . . . . . . . . . . . .42
bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36
budget deficit . . . . . . . . . . . . . . . . . . . . . . . . . .52
conditionality . . . . . . . . . . . . . . . . . . . . . . . . .50
credit crunch. . . . . . . . . . . . . . . . . . . . . . . . . . . .8
credit rating . . . . . . . . . . . . . . . . . . . . . . . . . . .56
credit risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . .58
debt-GDP ratio . . . . . . . . . . . . . . . . . . . . . . . . .34
debt ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34
default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62
default of payment . . . . . . . . . . . . . . . . . . . . . .62
default risk . . . . . . . . . . . . . . . . . . . . . . . . . . . .58
economic governance . . . . . . . . . . . . . . . . . . .22
economic governance package . . . . . . . . . . . .24
Euro Plus Pact. . . . . . . . . . . . . . . . . . . . . . . . . .12
65
European Financial Stabilisation Mechanism (EFSM) . . . . . . . . . . . . . . . . . . . . .16
European Financial Stability Facility (EFSF) . . . . . . . . . . . . . . . . . . . . . . . . .18
European Semester for economic policy coordination . . . . . . . . . . . . . . . . . . . . .10
European Stability Mechanism (ESM). . . . . .14
exposure to risk . . . . . . . . . . . . . . . . . . . . . . . .44
financial crisis. . . . . . . . . . . . . . . . . . . . . . . . . . .6
financial stability . . . . . . . . . . . . . . . . . . . . . . .30
government bond yield . . . . . . . . . . . . . . . . . .38
government bond yield spread . . . . . . . . . . . .40
government deficit . . . . . . . . . . . . . . . . . . . . . .52
liquidity risk . . . . . . . . . . . . . . . . . . . . . . . . . . .60
maturity . . . . . . . . . . . . . . . . . . . . . . . . . . .46, 48
maturity date . . . . . . . . . . . . . . . . . . . . . . . . . .48
maturity period . . . . . . . . . . . . . . . . . . . . . . . .46
National Reform Programme (NRP) . . . . . . .28
six-pack . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
sovereign debt. . . . . . . . . . . . . . . . . . . . . . . . . .32
sovereign bond spread . . . . . . . . . . . . . . . . . . .40
stability programme. . . . . . . . . . . . . . . . . . . . .26
66
InterActive Terminology for Europe - IATE
In 1999, the EU institutions decided to develop a brand new database merging the content of all their terminology databases in order to enhance interinstitutional cooperation, taking advantage of new technologies. In 2004, IATE was launched for internal use in the European institutions and in June 2007, it was made available to the general public.
IATE is a live database, continually updated, with hundreds of new terms added every work-ing day. It contains over 8 million terms, in-cluding approximately 540 000 abbreviations and 130 000 phrases, covering all official EU languages.
67
At the General Secretariat of the Council of the EU, IATE is fed by the terminology network of the Language Service, which is part of Directo-rate General A - Directorate 3 - Translation and Document Production.
http://iate.europa.eu
In IATE, every term has a “feedback” button which you are welcome to use to send your sug-gestions, corrections, etc.For generic questions or comments, you may contact us through [email protected].
General Secretariat of the Council
Financial crisisKey Terms in 23 languages
2012 — 67 p. — 10.5 x 21cm
ISBN 978-92-824-3582-3doi:10.2860/22154
Rue de la Loi/Wetstraat 1751048 Bruxelles/Brussel
BELGIQUE/BELGIËTel. +32 22816111
www.consilium.europa.eu
QC-32-12-017-EN
-C
RS 12/2012
doi:10.2860/22154