Traduction de «écart de taux d'inflation » (Français → Anglais) :

Q. whereas, despite Member States' reform and consolidation efforts, eurozone sovereign bond markets remain in distress, as reflected in high spreads and interest rate volatility; whereas one of the immediate triggers and root causes of the unprecedented divergences were financial markets' concerns about the solidity of public and private finances in several Member States;

11. Notes that the real economic growth in the European Union is characterised by old and new divergences, with the lowest growth rates in Portugal (1,2 % of GDP) and Italy (1,7 %), and high growth rates among the EU-15 in Spain (3,8 %), Greece (3,8 %) and, in particular, Sweden (4%), Finland (4,9 %) and Luxembourg (5,5 %); notes that the new Member States are registering particularly high growth rates in Slovakia (6,7 %), Lithuania (7,8 %), Estonia (10,5 %) and Latvia (11%); underlines that these divergences also reflect important structural differences, different domestic economic policies and demographic structures as well as asymmetric impacts of common policies, illustrating underlying risks to the European Union's internal cohesion; ...[+++] therefore stresses the need for policies that strengthen economic cohesion and thus foster the internal market and monetary union;

11. Notes that the real economic growth in the EU is characterised by old and new divergences, with the lowest growth rates in Portugal (1.2% of GDP) and Italy (1.7%), and high growth rates among the EU-15 in Spain (3.8%), Greece (3.8%) and, in particular, Sweden (4%), Finland (4.9%) and Luxembourg (5.5%); notes that the new Member States are registering particularly high growth rates in Slovakia (6.7%), Lithuania (7.8%), Estonia (10.5%) and Latvia (11%); underlines that these divergences also reflect important structural differences, different domestic economic policies and demographic structures as well as asymmetric impacts of common policies, illustrating underlying risks to the European Union’s internal cohesion; therefore stresses ...[+++]the need for policies that strengthen economic cohesion and thus foster the internal market and monetary union;

11. Notes that the real economic growth in the European Union is characterised by old and new divergences, with the lowest growth rates in Portugal (1,2 % of GDP) and Italy (1,7 %), and high growth rates among the EU-15 in Spain (3,8 %), Greece (3,8 %) and, in particular, Sweden (4%), Finland (4,9 %) and Luxembourg (5,5 %); notes that the new Member States are registering particularly high growth rates in Slovakia (6,7 %), Lithuania (7,8 %), Estonia (10,5 %) and Latvia (11%); underlines that these divergences also reflect important structural differences, different domestic economic policies and demographic structures as well as asymmetric impacts of common policies, illustrating underlying risks to the European Union's internal cohesion; ...[+++] therefore stresses the need for policies that strengthen economic cohesion and thus foster the internal market and monetary union;

Considerable progress has been made over the past year in reducing price inflation; the deflator of private consumption exceeded marginally the projection of the 1998 programme in 1998, while no deviation is estimated for 1999 from the projected average rate of increase of 2.5%; however, the increase in oil prices is slowing down the process of disinflation at present.

Inflation remained low and interest rate differentials with Germany were negligible thanks to the credible peg of the guilder with the DM.