APMTL=uFC FAIOMEFC OM=LAB=

C APMTL=uFC FAIOMEFC OM=LAB= - IRSOQIA, JAHGJOMSA JAI KEISOTQCIER

EL

C APMTL=uFC FAIOMEFC OM=LAB=

IRSOQIA,
JAHGJOMSA JAI
KEISOTQCIER

SOT
HANSPETER K. SCHELLER
DETSEQG AMAHEXQGLEMG
EJDORG 2006

IRSOQIA,
JAHGJOMSA JAI
KEISOTQCIER

SOT
HANSPETER K. SCHELLER
DETSEQG AMAHEXQGLEMG
EJDORG 2006

Date: 31 Oct, 2007 11:06:02;Format: (170.00 x 240.00 mm);Output Profile: OneVision Gray

C APMTL=uFC FAIOMEFC OM=LAB=

 , 2006

Kaiserstrasse 29
60311 Frankfurt am Main
Germany

Postfach 16 03 19
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Germany

+49 69 1344 0

http://www.ecb.int

+49 69 1344 6000

411 144 ecb d

,

: Claudio Hils, Martin
Joppen, Robert Metsch Martin Starl,
,
, .

:
30 2006.
ISBN 978-92-899-0215-1 (
)

EPIEXOMENA

11

12

KEAAIO 1

,
1.1

1.1.1

1.1.2

1.1.3

1.1.4

1.2

1.2.1

1.2.2

15
15
15
19
22
23
31
31
33

KEAAIO 2

: ,

2.1
,
2.1.1


2.1.2

2.1.3

2.1.4

2.2

2.2.1

2.2.2

2.2.3

2.3

2.3.1

2.3.2

2.4

2.5

2.5.1

47
47
48
49
50
51
51
52
53
54
54
55
56
57
58
59

2.5.2
2.5.3
2.5.4
2.5.5
2.5.6

72
79
80
84
85

KEAAIO 3

3.1

3.1.1

3.1.2

3.1.3

3.2

3.2.1

3.2.2

3.3

3.3.1

3.3.2

3.4

3.5

3.6

3.7


3.8

3.8.1

3.8.2

3.9

87
87
87
90
98
104
104
107
112
113
117
118
125
127
128
131
132
136
138

KEAAIO 4

4.1

4.1.1

4.1.2

4.1.3

4.1.4

4.1.5

4.2

4.2.1

4.2.2

4.2.3

4.3

4.3.1

4.3.2

141
141
142
142
143
143
144
145
145
146
147
150
150
152

4.3.3
4.3.4
4.3.5
4.3.6
4.4
4.5
4.6

155
156
157
157
158
159
160

KEAAIO 5

5.1

5.2


5.3

5.3.1

5.3.2

5.4


5.4.1

7 (G7)
5.4.2

10 (G10)
5.4.3

20 (G20)
5.4.4

5.4.5

163
163
165
166
166
169
170
170
171
172
172
173

KEAAIO 6

6.1

6.2
E
6.2.1


6.2.2

6.2.3

6.3

6.4

6.4.1

6.4.2

6.4.3

6.5

177
177
178
178
179
180
181
182
182
184
184
185

187

207

231

247

255

A
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

(1 1998
1 2004)


;




(8 2004)
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16
24
28
29
36
39
52
67
88
92
96
100
103
111
119
132

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3
4

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(%)

64
99
133

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47
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1.

2.

3.
4.

5.

6.
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(
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2006
Eurotower
Jean-Claude Trichet,
,
2005
Jean-Claude Trichet

G7

2006
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14
46
86

140

162
176
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21

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Jean-Claude Trichet

1 1998 31 2003
1 2003

Christian Noyer
.

1 1998 31 2002
1 2002

Sirkka Hmlinen
1 1998 31 2003
Eugenio Domingo Solans
1 1998 31 2004
Tommaso Padoa-Schioppa
1 1998 31 2005
Otmar Issing
1 1998 31 2006
Gertrude Tumpel-Gugerell
1 2003
Jos Manuel Gonzlez-Pramo
1 2004
Lorenzo Bini Smaghi
1 2005
Jrgen Stark
1 2006

Nationale Bank van Belgi/Banque Nationale de Belgique
Alfons Verplaetse
1 1998 28 1999
Guy Quaden
1 1999
Deutsche Bundesbank
Hans Tietmeyer
1 1999 16 2004
Ernst Welteke
1 1999 16 2004
Axel Weber
30 2004
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.
.

1 2001 31 2002
1 2002

Banco de Espaa
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Jaime Caruana

1 1998 11 2000
12 2000

Banque de France
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Christian Noyer

1 1998 31 2003
1 2003

Central Bank & Financial Services Authority of Ireland

Maurice OConnell
1 1998 10 2002
John Hurley
11 2002

67

 8 (1 1998 1
2004) ()
Banca dItalia
Antonio Fazio
1 1998 19 2005
Mario Draghi
16 2006
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Banque centrale du Luxembourg
Yves Mersch

1 1998

De Nederlandsche Bank
Nout Wellink

1 1998

Oesterreichische Nationalbank
Klaus Liebscher

1 1998

Banco de Portugal
Antnio Jos Fernandes de Sousa
Vtor Constncio

1 1998 22 2000
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Suomen Pankki Finlands Bank

Matti Vanhala
1 1998 15 2004
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12 2004
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Central Bank & Financial Services Authority of Ireland
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244

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245

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246




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(2000), 1999, 2000.
(2001), 2000, 2001.
(2002), 2001, 2002.
(2003), 2002, 2003.
(2004), 2003, 2004.
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, , 2003.

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, ,
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(1999), TARGET ,
, 1999.
(2000),
, , 2000.
(2000), , ,
2000.
(2001),
, , 2001.

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 (2002), :

,
, 2002.
(2002),
, , 2002.
(2002), ,
, 2002.
(2002),
,
, 2002.
(2003),
, ,
2003.
(2003), ,
(Continuous Linked Settlement - CLS),
, 2003.
(2003),
,
, 2003.
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(2000), ,
2000.
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, 2005.
(2005),
,
, 2005.

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(2005), TARGET - the current system ( ),

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(2005), TARGET - innovation and transformation (
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(1999), , ,
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(2001), ,
, 2001.
(2002), ,
, 2002.
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(2000), ECB labour relationships and the social dialogue with regard to the
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254


43,
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99, 101,
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100, 231


103, 231
.

()

()
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35,
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35, 232
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165, 232

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() 91, 233

19
EONIA 28, 233


(CESR) 117, 233

157, 233

,
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127, 155, 234
17, 24, 234
EUREPO 28, 234
EURIBOR 28, 234
Eurostat 126, 155, 235
23, 27, 29, 32, 235
() 30, 235
31, 235

(EBC) 130, 235
()
- 141
- 80
- 180
- 60, 231
- 70, 231
- 158
- 83
- 177
-
148
- 164
-
159
- 59, 178,
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- 185
- 66, 176,
233
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160
- 177
- 74
- 177
- 179
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255

- 180
- 79
- 79
- 132
- 185
- 177
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- 114
- 49
- 73
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- 59
- 181
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- 182
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90
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- 178
- 185
- 107
- 81
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178
() 31, 236

() 15
148, 150,
236

151

() 19, 237
35, 237

()
- 74, 232
- 54
- 76
- 184
- 51
- 48

(EMCF) 19, 237

- 87
- 48

256

-
97, 242
- 48
-
77
-
131
38, 237



( )
23, 81, 238

238

124
122
238
39, 238
36, 238
36, 239
35, 157
239

() 20, 239
Marjolin 15
II (
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104, 239

() 77, 240
17, 22, 239
136, 239

156, 240

() 15, 23, 240
OLAF (
) 160,
241
60, 154, 240
10 (G10) 171
20 (G20) 172
7 (G7) 170


() 169, 240
102, 241

104

103, 241
100, 241
241


101, 241

100, 241

100, 242
37, 242
128
(
) 114, 244
52, 90, 242

90, 242
35
ECOFIN .

35, 36, 42, 55, 60,
81, 140, 149, 242
81
243

26, 36, 243
107

(FSF) 172
20, 30, 80, 243
.
33, 83, 243

103, 244

() 116, 244

() 112, 117, 244

112, 244
Barre 18
Werner 21
100, 244
TARGET (


) 114, 244
TARGET2 115, 245

97, 245

() 173, 245
(EBA)
115, 245
118

103, 246
128

257

Date: 31 Oct, 2007 11:13:37;Format: (168.00 x 245.00 mm);Output Profile: SPOT IC300