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Copyright 2007 – Biz/ed
The European Union 1
All photographs and graphics courtesy of European Commission Audiovisual Libraryhttp://europa.eu.int/comm/mediatheque/photo/index_en.html
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The European Union
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The EU, USA and Japan
Comparison between Japan-EU-USA population, share of world GDP, share of world trade
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Institutions
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Political
• EU Parliament – Currently 785 MEPs. Based in France, Belgium and Luxembourg– Passes laws, monitors budget, monitors EU institutions
• EU Council – Ministerial representations from each member state– Passes laws, approves EU budget, co-ordination
of economic policies, develops foreign policy, co-ordinates anti-crime strategies
• EU Commission – 20 Commissioners appointed by each member state every 5 years– Proposes legislation, implements EU policies,
law enforcement, international co-ordination
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Financial
• European Central Bank – inflation target of less than 2% per year, sets short term interest rates for the whole eurozone area, – Implements and monitors Eurozone monetary policy
• European Investment Bank – ‘owned’ by member states. Raise finance through financial markets, – Invest in projects to promote aims of EU –
large scale projects
• Court of Auditors – monitors legality and efficiency of EU income and expenditure
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Legal
• Court of Justice – one judge from each member state– Interprets and applies EU legislation
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Member States pre-Enlargement
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Member States
Map reproduced with permission from www.theodora.com
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Enlargement - New Members
Cyprus
Czech Republic
Estonia
Hungary
Latvia
Lithuania
Malta
Poland
Slovakia
Slovenia
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Activities
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Agriculture
• CAP – Common Agricultural Policy– Sustainablility– Food Quality– Animal Welfare– Food Safety– Control– Farmers welfare/incomes– Employment in agriculture
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Fisheries
• CFP – Common Fisheries Policy– Conservation
of fish stocks– Aid to fishing industry
to cope with changing circumstances
– Monitor supply and demand for fish
– Negotiate with non-EU members on fishing issues
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Regions• European Regional Development Fund• European Social Fund• European Agricultural Guidance and
Guarantee Fund• Financial Instrument for Fisheries Guidance
– Aims to encourage development of poorer regions– Increase employment opportunities– Encourage new industry to locate in areas
of structural decline– Develop infrastructure in poorer regions– Encourage new training methods and facilities
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Finance/Economics
• Euro – monitor introduction and development• Tax Harmonisation – reduce differentials
in tax regimes throughout the single market to aid competition and transparency
• Single Market – free movement of goods, services, labour and capital between member states
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Eurozone 2001
Members of the Eurozone, 2001. UK, Denmark and Norway currently outside the zone