Vol.4, No 2, 2007 pp. 109 - 118
UDC 339.738(4-672EU)

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OBJECTIVES AND TASKS OF THE EUROPEAN SYSTEM OF CENTRAL BANKS
Srdjan Golubović
Faculty of Law, University of Niš, 18000 Niš, Serbia

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EU legislation accepts the solution that does not give independence to central bank in determining the monetary policy objectives. Regarding that, EU Treaty and ESCB Statute clearly define that price stability is the primary objective that is in the fields of competence of the central banking system. It, however, does not mean that monetary policy is conducted independently and without considering other economic policy objectives. On the contrary, EU legislation determines obligation of the European System of Central Banks to, without neglecting the primary objective – price stability – support general economic policy of the Community. Beside primary objectives, this paper also analyses tasks accredited to monetary authority by the EU juridical acts. It is about activities that contribute to the realization of the primary objectives and are related to: determining and conducting the Community monetary policy, performing the foreign exchange operations i.e. holding and managing the official foreign exchange reserves of memeber states as well as creating conditions for the efficient functioning of the payment systems.
Key words:  European Monetary Union, objectives and tasks, central banks

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CILJEVI I ZADACI EVROPSKOG SISTEMA CENTRALNIH BANAKA Zakonodavstvo Evropske unije prihvata rešenje po kome centralna banka nema samostalnost u utvrđivanju ciljeva monetarne politike. U tom smislu, Ugovor o EU i Statut ESCB jasno definišu da je stabilnost cena osnovni cilj za čiju realizaciju je odgovoran centralno-bankarski sistem. To, naravno, ne znači da se monetarna politika vodi potpuno izolovano i bez uvažavanja ostalih ciljeva ekonomske politike. Naprotiv, zakonodavstvo EU utvrđuje obavezu Evropskog sistema centralnih banka da, ne zanemarujući osnovni cilj – održavanje stabilnosti cena – podržava i opštu ekonomsku politiku koja se vodi u Zajednici. U radu se pored razmatranja osnovnih ciljeva, analiziraju i zadaci koje pravni akti EU poveravaju vrhovnoj monetarnoj vlasti. Reč je o aktivnostima koje su u funkciji realizacije osnovnih ciljeva i odnose se na: utvrđivanje i vođenje monetarne politike Zajednice, obavaljanje deviznih poslova, odnosno držanje i upravljanje deviznim rezervama država članica, kao i na stvaranje uslova za nesmetano obavljanje platnog prometa.