The EU is a unique economic and political partnership between 28 countries that cover much of the continent.
Aims of the EU:
Article 3.1 TEU - "promote peace, its values and the well-being of its peoples".
Article 2 TEU values freedom, democracy, rule of law, equality and human rights.
Article 2 TEU values freedom, democracy, rule of law, equality and human rights.
The Institutions:
COMMISSION - Drafts proposed legislation and runs the EU on a day to day basis. Home governments put forward the Commissioners - appointed, not elected.
COUNCIL - Passes legislation (sometimes in conjunction with Parliament) and allows government ministers from each member state to meet and discuss EU matters. Indirectly elected - elected in their own countries but automatically assume the positions.
EUROPEAN COUNCIL - Comprises heads of states who set the general political direction of the EU.
PARLIAMENT - Directly elected, but have low turn-out.
COURT OF JUSTICE OF THE EU - Adjudicates disputes over the meaning of EU law and imposes sanctions for breaches of EU legislation.
EUROPEAN CENTRAL BANK - Sets and implements monetary policy for the eurozone. Aims to keep inflation at around 2%.
COUNCIL - Passes legislation (sometimes in conjunction with Parliament) and allows government ministers from each member state to meet and discuss EU matters. Indirectly elected - elected in their own countries but automatically assume the positions.
EUROPEAN COUNCIL - Comprises heads of states who set the general political direction of the EU.
PARLIAMENT - Directly elected, but have low turn-out.
COURT OF JUSTICE OF THE EU - Adjudicates disputes over the meaning of EU law and imposes sanctions for breaches of EU legislation.
EUROPEAN CENTRAL BANK - Sets and implements monetary policy for the eurozone. Aims to keep inflation at around 2%.
Terminology:
The European Economic Area (EEA)
European Free Trade Association (EFTA)
Schengen Agreement
The Eurozone
Candidate Countries
- EU members plus Iceland, Norway and Liechtenstein
- Allows the latter 3 to participate in the single market
- They adopt laws that relate to the single market
European Free Trade Association (EFTA)
- Free trade organisation between Iceland, Norway, Liechtenstein and Switzerland.
- Operates parallel to the EU
Schengen Agreement
- Created borderless Schengen Area in 1995
The Eurozone
- Economic and monetary union of 17 EU members
- Euro is common currency and sole legal tender
- Monetary policy controlled by the European Central Bank
Candidate Countries
- Those officially applying to become apart of the EU
- Five at present (May 2013) - Iceland, Montenegro, Serbia, Macedonia and Turkey
- Accepted in principle - must first meet EU standards