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French original |
Free machine translation (Altavista Babelfish) |
Human translation suppliers 1 & 2 |
Human translation supplier 3 |
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Macro-economic report (July 2000) |
Danemark : objectif 2002 Selon toute vraisemblance les danois devraient être appelés à se prononcer pour ou contre l'adhésion de leur pays à l'UEM lors d'un référendum prévu le 28 septembre prochain. Ils avaient refusé l'adhésion en 1992, mais il semble qu'aujourd'hui le gouvernement, Premier Ministre en tête, soit décidé à ne pas prendre le risque d'un nouvel echec par de trop timides engagements. Ainsi des messages sur le coût d'une éventuelle non-adhésion sont-ils mis en avant depuis quelques temps. |
Denmark: objective 2002 According to any probability Danish should be called to decide for or counters the adhesion of their country to the UEM at the time of a referendum envisaged on next 28 September. They had refused adhesion in 1992, but it seems that today the government, Prime Minister at the head, are decided not to take the risk of a new failure by too timid engagements. Thus messages on the cost of a possible non-adhesion are proposed for some time. |
Denmark: objective 2002 In all probability the Danes will be asked to vote for or against their country joining EMU in a referendum planned for 28 September. Although they refused to join in 1992, it now seems that the Government, led by the Prime Minister, has decided not to risk another failure due to lack of sufficiently strong commitments. Therefore, for some time messages about the cost of possible failure to join have been put forward. |
Denmark: aiming for 2002 The referendum on EMU participation is currently set for September 28. In 1992 a similar referendum failed, but the government and the Prime Minister now appear less willing to accept the renewed failure that could result from half-hearted campaigning. They have thus repeatedly stressed the costs of remaining outside EMU. |
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Instructions for clearing system |
Les modalités de fonctionnement relèvent d'un processus simple. |
The procedure concerns a simple process. |
The operating procedures are covered by a simple process. |
The procedure is simple. |
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Brochure, Paris Bourse |
L'ouverture internationale, l'évolution des technologies, et le souci constant d'améliorer les services rendus aux membres, ont guidé le mode de gestion des marchés de ParisBourseSBF SA. |
The international opening, evolution of technologies, and the constant concern to improve the services rendered to the members, guided the mode of management of the markets of ParisBourseSBF SA. |
ParisBourseSBF SA has based its market management on opening up internationally, developing technologies and striving constantly to improve the services it provides to its members. // The international outlook, technological evolution and the constant desire to improve services to members are all factors that guide the market management methods of ParisBourseSBF SA. |
As market operator, ParisBourseSBF SA has consistently focused on priorities that include international reach, technological progress and ongoing efforts to enhance the quality of services available to members. |
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CEO soundbite in press release merger announce-ment |
"La fusion Euroclear/Sicovam est une unification de forces qui marque une longueur d'avance déterminante : nous offrons ainsi aux utilisateurs un service intégré, de qualité, à des coûts très compét-itifs tout en capitalisant sur les sys-tèmes techniques et les compétences déjà existants et qui représentent l'état de l'art en la matière. Cette fusion, fruit d'une vision partagée, ouvre la voie au nouvel espace européen du règlement/livraison et structure ainsi notre avenir." |
" Euroclear/Sicovam fusion is a unification of forces which marks a length in advance determining: we thus offer to the users an integrated service, of quality, at very competitive cost while capitalizing on the technical systems and competences already existing and which represent the state of the art on the matter. This fusion, fruit of a shared vision, opens the way with the new European space of the règlement/livraison and structure thus our future. " |
"The merger between Euroclear and Sicovam constitutes a pooling of forces which marks a step forward of decisive magnitude: we can thus offer users an integrated and high quality service at a very competitive cost while making the best use of already existing hardware systems and skills representing the state of the art in this field. This merger, arising from a shared vision, opens the way to a new European space of settlement and delivery and thus provides the structure for our future." |
"The merger of Sicovam and Euroclear and the combination of strengths they represent give us a decisive advantage. We offer users an integrated, quality service at highly competitive prices, building on state-of-the art technical facilities and proven know-how. This merger reflects a shared vision and brings new scope to clearing and settlement in Europe, opening up new prospects for the future." |
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Press release, derivatives market |
Déjà marquée s'agissant du nombre de contrats négociés - les échanges en options progressant de plus de 15% -, la croissance a été encore plus spectaculaire en termes de capitaux, pusique le montant de primes d'options traitées s'est établi à un niveau plus de deux fois supérieur à celui de 1999. |
Already marked being the number of negotiated contracts - exchanges in options progressing of more than 15% -, the growth was even more spectacular in terms of capital, since the amount of premiums of treated options was established on the level more twice higher than that of 1999. |
Growth, which is already marked in terms of the number of contracts negotiated, with trade in options going up by over 15%, has been even more spectacular in terms of capital, as the sum of options traded has established itself at a level more than twice that of 1999. |
The number of options traded rose a healthy 15%, while premiums soared to more than double the total for 1999. |
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French original |
Free machine translation (Altavista Babelfish) |
Human translation suppliers 1 & 2 |
Human translation supplier 3 |
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Economic review |
Activité confirmée à un haut niveau Les indicateurs publiés cet été confirment le dynamisme de l'activité dans la zone euro. Toutefois, ce dynamisme s'accompagne d'une accélération de la hausse des prix (liée au cours du pétrole et au niveau de l'euro) qui nous a amené à revoir légèrement à la hausse nos prévisionsd'inflation. Un rythme de croissance élévé se confirme La croissance du PIB de la zone euro qui est restée bridée pendant la décennie 1990 à 2% l'an en moyenne évolue enfin à un rythme soutenu. Elle a été révisée en hausse au 1er trimestre à 3,4% contre3,1%. La confiance est ferme La dernière enquête européenne publiée début août indique que le sentiment économique général est resté stable en juillet pour le 5ème mois consécutif. La dynamique de l'emploi est bien en place La forte reprise de l'activité dans la zone euro se traduit sur le marché du travail par une nette baisse du taux de chômage : 9,1 % en juin contre 9,9% un an auparavant et 10,9% en juin 1998. Cette baisse concerne l'ensemble des pays européens. Elle est spectaculaire en Espagne avec un taux qui est passé de plus de 20% en 1997 à 13,9% au 2ème trimestre 2000. En France, le chômage est à son plus bas niveau depuis 9 ans. En Allemagne et en Italie après un début timide, la dynamique s'est bien enclenchée. Cette dynamique se poursuivra en ligne avec la croissance. La barre des 8% de chômeurs devrait donc être franchie en 2001. |
Activity confirmed on a high level The indicators published this summer confirm the dynamism of the activity in the zone euro. However, this dynamism is accompanied by an acceleration of the rise of the prices (related during the oil and the level of the euro) which led us to slightly re-examine with the rise our forecasts of inflation. A rate of growth élévé is confirmed the growth of the GDP of the zone euro which remained attached during the decade 1990 to 2% per annum on average evolves/moves finally at an intensive pace. It was revised raises some in the 1st quarter with 3,4% against 3,1%. Confidence is firm the dérnière inquires European published at the beginning of August indicates that the economic feeling general remained stable in July for the 5th consecutive month. The dynamics of employment is well places from there the strong renewal of activity in the zone euro is translated on the labour market by a clear fall of the rate of unemployment: 9,1 % in June against 9,9% a year before and 10,9% in June 1998. This fall relates to the whole of the European countries. It is spectacular in Spain with a rate which passed of more than 20% in 1997 to 13,9% in 2nd quarter 2000. In France, unemployment has been on its low level for 9 years. In Germany and Italy after a timid beginning, dynamics engaged well. This dynamics will continue on line with the growth. The bar of the 8% unemployed should thus be crossed into 2001. |
High level of activity confirmed The indicators published this summer confirm the dynamism of activity in Euroland. However, this dynamism is accompanied by an increasingly rapid rise in prices (linked to oil prices and the rate of the Euro) which have led us to revise our inflation forecasts slightly upwards.
Growth in Eurolands GDP, which remained below 2% per annum on average in the 1990s, is at last developing at a sustained rate. It has been revised upwards for the first quarter, to 3.4% instead of 3.1%.
The last European survey published at the beginning of August shows that in July the general economic mood remained stable for the 5th month running.
In the employment market, the strong recovery of activity in Euroland is reflected by a distinct drop in the rate of unemployment: 9.1% in June as compared with 9.9% a year earlier and 10.9% in June 1998. This drop has affected all European countries. It has been spectacular in Spain with a rate which has gone down from over 20% in 1997 to 13.9% in the 2nd quarter of 2000. In France, unemployment is at its lowest level for 9 years. In Germany and in Italy, after a timid start, positive trends have emerged. These dynamics will continue in line with growth. Therefore, unemployment should fall below the 8% threshold in 2001. |
Firm trends continue Indicators published over summer confirm brisk pace in the euro zone. Yet at the same time price rises have quickened due to higher oil prices and the weakness of the euro. We have thus set our inflation forecasts a little higher. Strong growth confirmed After averaging an unimpressive 2% a year in the 1990s, euro-zone growth has got onto a firmer track, with the first-quarter figure revised upward from 3.1 to 3.4%. Confidence holding high Results of the latest Eurostat survey published at the beginning of August show general economic sentiment holding steady in July for the fifth month in a row. Unemployment falling steadily The vigorous upturn in euro-zone growth has brought steep falls in unemployment, down to 9.1% this June compared with 9.9% a year earlier and 10.9% in June 1998. All countries are benefiting. The decline has been particularly spectacular in Spain, where unemployment fell from 20% in 1997 to 13.9% in the second quarter of this year, while in France the rate is down to a 9-year low. Finally, improvement is now taking hold in Germany and Italy after a hesitant beginning. These trends should continue along with growth, and euro-zone unemployment should fall below the 8% mark next year.
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Caption, in-house magazine |
Les colonnes en pâte de verre de Marie-Paule Feierei donnent au bâtiment ses repères de verticalité. |
The columns in molten glass of Marie-Paule Feierei give to the building her reference marks verticality. |
Marie-Paule Feierei's glass-paste columns give the building a vertical dimension. |
Marie-Paule Feierei's pâte de verre columns bring vertical lines to life. |