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Based on Articles 15, 16, 17, 18, 19, 20 and Article 35 Paragraph 1 Sub-Paragraph 1.1 of the Law No. 03 / L-209 on Central Bank
Based on Articles 15, 16, 17, 18, 19, 20 and Article 35 paragraph 1 sub-paragraph 1.1 of the Law no. 03 / L-209 on Central Bank of the Republic of Kosovo (Official Gazette of the Republic of Kosovo, Law no. 03 / L-209, OG no. 77/2010, August 16, 2010), UNMIK Regulation no. 1999/4 on the currency permitted to be used in Kosovo (Official Gazette of UNMIK Regulation UNMIK / REG / 1999/4, 2 September 1999), UNMIK Administrative Regulation no. 2001/24 Amending UNMIK Administrative Direction no. 1999/2 on the implementation of the Regulation no. 1999/4 to allow the use of foreign currency in Kosovo (Official Gazette of UNMIK, UNMIK Administrative Direction / DIR. / 2001/24, 21 December 2001), the Board of the Central Bank of the Republic of Kosovo in its meeting held on March 31. 2016 approved: REGULATION ON CASH OPERTATIONS CHAPTER I GENERAL PROVISIONS Article 1 Purpose The purpose of this regulation is to establish regulatory standards for professional fulfilment of tasks of financial institutions in the area of cash operations. By means of this regulation are sets out the rules and procedures of treatment and withdrawal from circulation of euro banknotes and coins and other currencies suspected to be counterfeit, the criteria for substituting damaged euro banknotes and coins, the minimum standards for checking eligibility and resetting in circulation of banknotes and euro currencies and the standards for packaging euro banknotes and coins for deposit at the Central Bank of Kosovo. Article 2 Scope Subject to the scope of this regulation are the Central Bank of Kosovo - CBK, banks, branches of foreign banks and other financial institutions licensed to carry out banking and / or financial activities in the Republic of Kosovo. -
A Success Story Or a Failure? : Representing the European Integration in the Curricula and Textbooks of Five Countries
I Inari Sakki A Success Story or a Failure? Representing the European Integration in the Curricula and Textbooks of Five Countries II Social psychological studies 25 Publisher: Social Psychology, Department of Social Research, University of Helsinki Editorial Board: Klaus Helkama, Chair Inga Jasinskaja-Lahti, Editor Karmela Liebkind Anna-Maija Pirttilä-Backman Kari Mikko Vesala Maaret Wager Jukka Lipponen Copyright: Inari Sakki and Unit of Social Psychology University of Helsinki P.O. Box 4 FIN-00014 University of Helsinki I wish to thank the many publishers who have kindly given the permission to use visual material from their textbooks as illustrations of the analysis. All efforts were made to find the copyright holders, but sometimes without success. Thus, I want to apologise for any omissions. ISBN 978-952-10-6423-4 (Print) ISBN 978-952-10-6424-1 (PDF) ISSN 1457-0475 Cover design: Mari Soini Yliopistopaino, Helsinki, 2010 III ABSTRAKTI Euroopan yhdentymisprosessin edetessä ja syventyessä kasvavat myös vaatimukset sen oikeutuksesta. Tästä osoituksena ovat muun muassa viimeaikaiset mediassa käydyt keskustelut EU:n perustuslakiäänestysten seurauksista, kansalaisten EU:ta ja euroa kohtaan osoittamasta ja tuntemasta epäluottamuksesta ja Turkin EU-jäsenyydestä. Taloudelliset ja poliittiset argumentit tiiviimmän yhteistyön puolesta eivät aina riitä kansalaisten tuen saamiseen ja yhdeksi ratkaisuksi on esitetty yhteisen identiteetin etsimistä. Eurooppalaisen identiteetin sanotaan voivan parhaiten muodostua silloin, kun perheen, koulutuksen -
Crisis in the Eurozone Pdf Free Download
CRISIS IN THE EUROZONE PDF, EPUB, EBOOK Costas Lapavitsas | 268 pages | 09 Nov 2012 | Verso Books | 9781844679690 | English | London, United Kingdom Crisis in the Eurozone PDF Book For example, a crisis in one country could force eurozone banks to sell that nation's debt, leaving domestic banks unable to cope. The European Central Bank is being a watchdog here and Banks in Bulgaria have been given time to create additional capital buffers till April Retrieved 11 July Retrieved 11 February Archived from the original on 4 December Comparative Political Studies. As of January , a group of 10 central and eastern European banks had already asked for a bailout. Federal Union. The major disagreements and clashes started Consequently, Greece was "punished" by the markets which increased borrowing rates, making it impossible for the country to finance its debt since early The Lisbon Council. The Balance uses cookies to provide you with a great user experience. Archived from the original PDF on 9 February In mid, due to successful fiscal consolidation and implementation of structural reforms in the countries being most at risk and various policy measures taken by EU leaders and the ECB see below , financial stability in the eurozone has improved significantly and interest rates have steadily fallen. In the idea was picked up by the European Central Bank. The 7-point plan followed an intergovernmental treaty approved on December 9, , where EU leaders agreed to create a fiscal unity parallel to the monetary union that already exists. Advanced Manufacturing Clusters in various nations will greatly help, but understanding of global-age expansion of value offerings with fine production is a new art and commercialization to nations a new science. -
Departure from the Schengen Agreement Macroeconomic Impacts on Germany and the Countries of the European Union
GED Study Departure from the Schengen Agreement Macroeconomic impacts on Germany and the countries of the European Union GED Study Departure from the Schengen Agreement Macroeconomic impacts on Germany and the countries of the European Union Authors Dr. Michael Böhmer, Jan Limbers, Ante Pivac, Heidrun Weinelt Table of contents 1 Background Information 6 2 Methodological approach 7 3 Results 9 4 Further costs of departure from the Schengen Agreement 13 Further economic impact 13 Political impact 14 Social significance 14 5 Conclusion 15 Literature 16 Imprint 18 5 1 Background Information The Schengen Agreement entered into force in 1995 and of checks at EU internal borders, on Germany and other EU today it is comprised of 26 states. This includes all European countries, as well as for the European Union as a whole. The Union members with the exception of the United Kingdom, evaluation period extends to the year 2025. Ireland, Romania, Bulgaria, Cyprus and Croatia, as well as the non-EU countries of Norway, Iceland, Liechtenstein and Switzerland. The agreement provides for the abolition of the requirement to check persons at internal borders within the Schengen area. The Convention Implementing the Schengen Agreement also regulates the standardisation of entry and residency requirements, as well as, the issuing of visas for the entire Schengen area. At the time, police and judicial cooperation measures were also agreed upon, in addition to asylum provisions. In the wake of sharply rising refugee movements into Europe, a partial restoration of border controls has been implemented. European Union countries have seen a significant increase in asylum seekers. -
European Parliament Resolution of 12 December 2013 on Constitutional Problems of a Multitier Governance in the European Union (2012/2078(INI)) (2016/C 468/25)
C 468/176 EN Official Journal of the European Union 15.12.2016 Thursday 12 December 2013 P7_TA(2013)0598 Constitutional problems of a multitier governance in the EU European Parliament resolution of 12 December 2013 on constitutional problems of a multitier governance in the European Union (2012/2078(INI)) (2016/C 468/25) The European Parliament, — having regard to the Treaty on the European Union and the Treaty on the Functioning of the European Union, — having regard to the Treaty on the European Stability Mechanism (ESM) (1), — having regard to the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG) (2), — having regard to the ‘six-pack’ (3), — having regard to the ‘two-pack’ (4), — having regard to Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (5), — having regard to its position of 12 September 2013 on the proposal for a Council regulation conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (6), — having regard to the report of 5 December 2012 of the Presidents of the European Council, the European Commission, the European Central Bank and the Eurogroup entitled ‘Towards a genuine Economic and Monetary Union’ (7), — having regard to the Commission communication of 28 November 2012 entitled ‘A blueprint for a deep and genuine economic -
European Stability Mechanism
~FACTSHEET~ European Stability Mechanism The Treaty establishing the European Stability Mechanism (ESM) has been ratified by all 17 euro area member states. It entered into force on 27 September 2012, nine months earlier than initially foreseen 1. The treaty was signed by euro area member states on 2 February 2012. The ESM board of governors held its inaugural meeting on 8 October 2012. The ESM is an intergovernmental institution based in Luxembourg, set up to provide financial assistance to eurozone member states experiencing, or being threatened by, severe financing problems, if this is indispensable for safeguarding financial stability in the euro area as a whole. The initial maximum lending capacity of the ESM is set at €500 billion. This is achieved with subscribed capital of €700 billion (€ 80 billion paid-in capital, the rest callable). A first version of the treaty was signed on 11 July 2011, but it was subsequently modified to incorporate decisions taken by the heads of state and government of the euro area on 21 July and 9 December 2011 to improve the effectiveness of the mechanism. As a permanent mechanism, the ESM will take over the tasks currently fulfilled by the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). With the accelerated entry into force, the ESM will now operate alongside the EFSF for nine months. In March 2012, the Eurogroup agreed to raise the overall ceiling for ESM/EFSF lending to €700 billion 2. Already during the transitional period, until mid-2013, the ESM will be the main instrument for the financing of new programmes. -
Spotlight Europe Reforming Economic and Monetary Union: Legislation and Treaty Change
spotlight europe spotlight europe #2017/01 Reforming Economic and Monetary Union: Legislation and Treaty Change This paper examines the legal mechanisms for reforming EMU — EU legislation, amendments to intergovernmental treaties concluded outside EU law, and EU treaty changes. It provides guidance on how to introduce several needed changes to EMU, suggesting that many reforms can be accomplished à traité constant, but that improving the EU institutional system ultimately requires changing the EU treaties. to strengthen the Eurozone economy and its insti- Federico Fabbrini * tutional set-up. This effort acquires a new meaning since it coincides with the likely trigger that month by th e United Kingdom (UK) of negotiations to leave 1. Introduction the EU. Brexit has already prompted soul-searching The reform of Europe’s Economic and Monetary Union with in the EU and created the need to think anew (EMU) remains on the agenda of the institutions about Europe’s strategic future. The purpose of this and the member states of the European Union (EU). paper is to contribute to this debate, by analyzing the Several high-level institutional reports on deepening legal wa ys and means to reform EMU — on the un- and completing EMU have been published in the last derstanding that the success of the European integra- few years, and the European Commission is expected tion project also depends on the successful resolution to deliver by March 2017 a white paper mapping how of the Euro-crisis and consolidation of EMU. * Full Professor of European Law, School of Law & Government, Dublin City University spotlight europe #2017/01 There are three legal avenues to reform EMU, complet- National leaders have also endorsed the goal of ing and deepening Europe’s architecture of economic stabilizing EMU. -
Financial Market Integration in the EU: a Practical Inventory of Benefits and Hurdles in the Single Market
Financial market integration in the EU: A practical inventory of benefits and hurdles in the Single Market Financial market integration in the EU: A practical inventory of benefits and hurdles in the Single Market Imprint: © 2019 Bertelsmann Stiftung/ ESMT European School of Management ESMT Berlin (Hrsg.) and Technology Schlossplatz 1 Authors: 10178 Berlin Katharina Gnath, Bertelsmann Stiftung Germany Benjamin Große-Rüschkamp, ESMT Berlin Christian Kastrop, Bertelsmann Stiftung Editing: Dominic Ponattu, Bertelsmann Stiftung David Gow Jörg Rocholl, ESMT Berlin Marcus Wortmann, Bertelsmann Stiftung Title image: Andrew Malone/Networking/flickr.com – CC BY 2.0, Bertelsmann Stiftung https://creativecommons.org/licenses/by/2.0/ Programme Europe’s Future Carl-Bertelsmann-Str. 256 33311 Gütersloh Germany Financial market integration in the EU | Page 3 Contents 1 Abstract ............................................................................................................ 5 2 Introduction ...................................................................................................... 6 3 On the benefits of a single market for capital and finance in Europe: A review of effects and channels .................................................... 7 3.1 Definition and history of financial integration in Europe .............................................................. 7 3.2 Theoretical benefits and channels of financial integration .......................................................... 8 3.3 Potential caveats of financial integration -
The European Union in Transition: the Treaty of Nice in Effect; Enlargement in Sight; a Constitution in Doubt
Fordham International Law Journal Volume 27, Issue 2 2003 Article 1 The European Union in Transition: The Treaty of Nice in Effect; Enlargement in Sight; A Constitution in Doubt Roger J. Goebel∗ ∗ Copyright c 2003 by the authors. Fordham International Law Journal is produced by The Berke- ley Electronic Press (bepress). http://ir.lawnet.fordham.edu/ilj The European Union in Transition: The Treaty of Nice in Effect; Enlargement in Sight; A Constitution in Doubt Roger J. Goebel Abstract This Article is intended to provide an overview of this transitional moment in the history of the European Union. Initially, the Article will briefly review the background of the Treaty of Nice, and the institutional structure modifications for which it provides, which paves the way for enlargement. Next it will describe the final stages of the enlargement process. Finally, the Article will set out the principal institutional innovations and certain other key aspects of the draft Constitution, the most important issues concerning them, and the current impasse. THE EUROPEAN UNION IN TRANSITION: THE TREATY OF NICE IN EFFECT; ENLARGEMENT IN SIGHT; A CONSTITUTION IN DOUBT Rogerj Goebel* INTRODUCTION Once again the European Union' (the "EU" or the "Union") is in a stage of radical evolution. Since the early 1990's, the EU has anticipated an extraordinary increase in its constituent Member States2 through the absorption of a large number of Central European and Mediterranean nations. Since the late 1990's, the Union has been negotiating the precise terms for their entry with a dozen applicant nations and has been providing cooperative assistance to them to prepare for their accession to the Union and in particular, its principal con- stituent part, the European Community.3 As this enlargement of the Union came more clearly in sight, the political leadership and the present Member States, joined by the Commission, con- * Professor and Director of the Center on European Union Law, Fordham Univer- sity School of Law. -
Differentiated Integration in the Eu
DIFFERENTIATED INTEGRATION IN THE EU FROM THE INSIDE LOOKING OUT EDITED BY STEVEN BLOCKMANS CONTRIBUTORS STEVEN BLOCKMANS VÍT BENEŠ MATS BRAUN RICHARD CORBETT ELAINE FAHEY ESTER HERLIN-KARNELL THEODORE KONSTADINIDES ADAM ŁAZOWSKI CLAUDIO MATERA JUAN SANTOS VARA CSABA TÖRŐ CENTRE FOR EUROPEAN POLICY STUDIES (CEPS) BRUSSELS The Centre for European Policy Studies (CEPS) is an independent policy research institute in Brussels. Its mission is to produce sound policy research leading to constructive solutions to the challenges facing Europe. The views expressed in this book are entirely those of the authors and should not be attributed to CEPS, the European Union or to any other institution with which they are associated. This book is a compilation of papers presented by the authors at an EPIN seminar on “The External Dimension of a Multi-Speed, Multi-Tier European Union” in Brussels on 6 May 2013. The European Policy Institutes Network (EPIN) is a network of 37 think tanks from 26 countries, led by CEPS. EPIN aims to contribute to the debate on the future of Europe through expert analysis and commentary and benefits from the support of the EU under the European Commission’s ‘Europe for Citizens’ Programme. In the framework of this particular research project, EPIN cooperated with the Amsterdam Centre for European Law and Governance (ACELG), the Centre for the Law of EU External Relations (CLEER) and the Faculty of Law of the University of Copenhagen. Cover image: © Jonáš Vacek, 2014 ISBN 978-94-6138-373-0 © Copyright 2014, Centre for European Policy Studies and the authors. All rights reserved. -
Brexit Jargon Buster
Brexit Jargon Buster Brexit Jargon Buster • 1 2 • Brexit Jargon Buster AAgencies European Union agencies regulate a number of regimes for goods and services; the European Chemicals Agency in Helsinki regulates chemicals and biocides; the European Medicines Agency, formerly in London is now relocated in Amsterdam responsible for the scientific evaluation, supervision and safety monitoring of medicines in the EU; the European Aviation Safety Agency. AIFMD The Alternative Investment Fund Managers Directive. This EU Directive regulates the managers (AIFMs) of alternative investment funds (AIFs). AIFMD includes passporting rights (see separate definition) for EU AIFMs to market funds across the EU. The Directive also contains provisions allowing non-EU AIFMs to become part of the passporting regime by way of a ‘third country passport’ (see separate definition) which may, in the future, provide a means for UK AIFMs to retain passporting rights post-Brexit. Competition law Competition laws of the EU are set out in the TFEU. They are a very important aspect of the single market. The European Commission is tasked with developing policy and enforcing the law ensuring that the European Union remains free from business practices that could ultimately be harmful to competition and consumers. In doing so, the Commission works with national competition authorities which are obliged also to apply EU competition law as well as domestic law. Particular emphasis is placed on ensuring businesses do not enter into anti-competitive agreements or abuse dominant positions in markets; the consequences of doing so can be severe. Brexit Jargon Buster • 3 The European Commission also assesses very large mergers and state aid. -
Payments and Market Infrastructure Two Decades After the Start of the European Central Bank Editor: Daniela Russo
Payments and market infrastructure two decades after the start of the European Central Bank Editor: Daniela Russo July 2021 Contents Foreword 6 Acknowledgements 8 Introduction 9 Prepared by Daniela Russo Tommaso Padoa-Schioppa, a 21st century renaissance man 13 Prepared by Daniela Russo and Ignacio Terol Alberto Giovannini and the European Institutions 19 Prepared by John Berrigan, Mario Nava and Daniela Russo Global cooperation 22 Prepared by Daniela Russo and Takeshi Shirakami Part 1 The Eurosystem as operator: TARGET2, T2S and collateral management systems 31 Chapter 1 – TARGET 2 and the birth of the TARGET family 32 Prepared by Jochen Metzger Chapter 2 – TARGET 37 Prepared by Dieter Reichwein Chapter 3 – TARGET2 44 Prepared by Dieter Reichwein Chapter 4 – The Eurosystem collateral management 52 Prepared by Simone Maskens, Daniela Russo and Markus Mayers Chapter 5 – T2S: building the European securities market infrastructure 60 Prepared by Marc Bayle de Jessé Chapter 6 – The governance of TARGET2-Securities 63 Prepared by Cristina Mastropasqua and Flavia Perone Chapter 7 – Instant payments and TARGET Instant Payment Settlement (TIPS) 72 Prepared by Carlos Conesa Eurosystem-operated market infrastructure: key milestones 77 Part 2 The Eurosystem as a catalyst: retail payments 79 Chapter 1 – The Single Euro Payments Area (SEPA) revolution: how the vision turned into reality 80 Prepared by Gertrude Tumpel-Gugerell Contents 1 Chapter 2 – Legal and regulatory history of EU retail payments 87 Prepared by Maria Chiara Malaguti Chapter 3 –