Translation of "écart monétaire réel naturel nouvellement créé " (French → English) :

newly created natural real monetary gap

newly created transferred real monetary gap

19. Agrees with the Commission that the disparities in growth and inflation rates within the euro area, with differences of up to 4,5 % in growth and up to 2,7 % in inflation in 2005, is increasingly due to structural reasons; regrets that dispersion in inflation rates among Member States with higher inflation rates has a negative effect on the competitiveness and monetary stability of the euro area as a whole; notes that these differences are sometimes part of a positive process of convergence in revenues and price level, due to the "catch up" process; calls once more on Member States of the euro area to strengthen their efforts towa ...[+++]rds effective coordination of economic and monetary policies notably through the reinforcement of their common strategies within the Eurogroup, in order to improve the real convergence of economies and to limit the risks of asymmetric shock in the EMU;

19. Agrees with the Commission that the disparities in growth and inflation rates within the euro area, with differences of up to 4,5 % in growth and up to 2,7 % in inflation in 2005, is increasingly due to structural reasons; regrets that dispersion in inflation rates among Member States with higher inflation rates has a negative effect on the competitiveness and monetary stability of the euro area as a whole; notes that these differences are sometimes part of a positive process of convergence in revenues and price level, due to the "catch up" process; calls once more on Member States of the euro area to strengthen their efforts towa ...[+++]rds effective coordination of economic and monetary policies notably through the reinforcement of their common strategies within the Eurogroup, in order to improve the real convergence of economies and to limit the risks of asymmetric shock in the EMU;

2) New green rates have been adopted in order to dismantle by 30 % the natural monetary compensatory amounts newly created for the drachma, the escudo, the pound and the lira.

Whereas Article 6 of Regulation (EEC) No 1677/85 provides for the gradual and automatic dismantlement of negative monetary gaps created between two realignments within the European Monetary System; whereas such dismantlement involves, in particular, the adjustment of the agricultural conversion rates in such a way as to eliminate, at the beginning of the marketing year which follows the realignement, 25 % of any newly created transferred monetary gaps; whereas, in accordance with paragraphs 3 and 4 of the said Article, the prices fixed in ecus and, as far as the need arises, the amounts fixed in ecus under the common agricultural polic ...[+++]y are reduced during the dismantling stage in question so as to neutralize the increase in prices in national currency which arises as a result of the adjustment of the agricultural conversion rates;