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Business > Ch 24. Ireland & the European Union > Flashcards

Ch 24. Ireland & the European Union Flashcards

1
Q

The European Union (3)

A
  • An international trading bloc
  • Political alliance of European nations
  • Designed to promote close political, economic and social co-operation among its member countries
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2
Q

The Council of the European Union (2)

A
  • Eu’s most important decision making body

- Made up of representatives from each member state government

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3
Q

Main functions of the Council of the European Union (3)

A
  • Sets goals and plans for the EU
  • Approves the budget for the EU together with the European Parliament
  • Approves laws drafted by the European Commission
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4
Q

The European Commission

A

Institution responsible for the day-to-day management of the EU

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5
Q

Main functions of the European Commission (3)

A
  • Proposing new laws
  • Implementing EU laws and policies
  • Managing the EU budget
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6
Q

The European Parliament

A
  • Directly elected by EU citizens

- Act as a supervisory ‘watchdog’ over all aspects of the EU’s activities

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7
Q

Main functions of the European Parliament (3)

A
  • Represents the views of the people of the EU
  • Legislates
  • Supervises
    • Funding and spending activities of the EU
    • Interviewing candidates for the jobs as EU Commissioners
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8
Q

The Court of Auditors

A

Responsible for ensuring that the EU budget is spent efficiently and for the purpose intended

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9
Q

The European Court of Justice

A

Responsible for ensuring that EU laws are applied the same way in all EU countries

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10
Q

The European Central Bank

A

Based in Frankfurt, the central bank for all countries that have adopted the euro as their common currency

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11
Q

EU Regulations

A

Legally binding decisions that become effective in law immediately and take precedence over national laws

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12
Q

EU Directives (2)

A
  • Set out a goal to be achieved by a member states and a deadline for its achievement
  • Each country is free to decide how best to achieve the goal
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13
Q

EU Decisions

A

Only binding on specifically named countries, companies companies or organisations

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14
Q

Interest groups that try to influence the EU’s decision making process (9)

A
  • National Governments
  • Industry bodies
  • Employer organisations
  • Trade Unions
  • Large TNC’s
  • Consumer protection organisations
  • Environmental organisations
  • Regional groups
  • Individuals
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15
Q

Methods of persuasion used by interest groups (4)

A
  • Lobbying the key decision makers
  • Setting up an office in Brussels and Strasbourg makes lobbying easier
  • Using public relations
  • Protests and public demonstrations
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16
Q

Main EU policies (8)

A
  • Single European Market
  • European Monetary Union Policy
  • Social Policy
  • Environmental Policy
  • Common Agricultural Policy
  • Common Fisheries Policy
  • Structural Policy
  • Competition Policy
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17
Q

Objective of SEM

A
  • Promotion of free trade between member states
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18
Q

Objective of EMU

A
  • Promotion and protection of the euro currency
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19
Q

Objective of Social Policy

A
  • Protecting worker, consumer and citizen rights
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20
Q

Objective of Environmental Policy

A
  • Ensuring environmental protection
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21
Q

Objective of CAP

A
  • Developing agriculture and rural life
22
Q

Objective of CFP

A
  • Developing and protecting fishing
23
Q

Objective of Structural Policy

A
  • Promoting regional economic development
24
Q

Objective of Competition Policy

A
  • Promoting competition in the marketplace
25
Q

SEM Policy

A

Remove barriers to the free movement of goods, services, people and capital between member states

26
Q

Benefits of the SEM for business (7)

A
  • Creation of a huge market
  • Free movement of goods
  • Free movement of capital
  • Free movement of labour
  • Tax harmonisation
  • Protectionism for EU firms
  • Foreign direct investment
27
Q

Drawbacks of the SEM for business (2)

A
  • Public procurement

- Greater competition

28
Q

EMU Policy

A

The introduction of the euro as a common currency for EU members

29
Q

Benefits of EMU for business (3)

A
  • International payments
  • Increased trade within the eurozone has been stimulated
  • International travel
30
Q

Drawback of EMU for business

A
  • Ireland’s biggest export customers, the UK and the USA, are not in the eurozone
31
Q

EU Social Policy

A

Intended to improve and harmonise working conditions and consumer rights throughout the EU

32
Q

Benefits of Social for business (4)

A
  • Improved work conditions
  • The European Social Fund
  • Equality of treatment for men and women
  • Consumer rights
33
Q

Drawback of Social Policy

A

Increased costs

34
Q

CAP

A

Designed to make the EU self-sufficient in food and maintain the incomes of farmers and rural communities

35
Q

CFP

A

Aims to improve the management of the community’s fishery resources

36
Q

Benefits of the CAP for business (6)

A
  • A single market
  • Farmers have been protected against low-cost food imports from outside the EU
  • Encouraged development
  • Food production for the EU is more secure
  • Farmer’s incomes have increased
  • Improved Ireland’s balance of payments
37
Q

Drawbacks of the CAP for business

A
  • Loss of many small farm businesses
  • Reduction of direct employment in agriculture
  • EU’s most expensive policy
38
Q

EU Environmental Policy

A

Aims to ensure that economic development within the EU is ecologically sustainable and is not at the expense of the quality of Europe’s environment

39
Q

EU Structural Policies

A

Designed to improve the competitiveness and wealth of the poorer regions and vulnerable industries

40
Q

Structural Funds (3)

A
  • European Regional Development Fund
  • European Social Fund
  • European Cohesion Fund
41
Q

European Regional Development Fund

A

Aims to reduce differences between rich and poor regions of the EU, especially areas lagging behind in development or those in industrial decline

42
Q

European Social Fund

A

Provides funding to train and retain workers and increase their adaptability to change

43
Q

European Cohesion Fund

A

Provides grants to economically poorer countries for infrastructure and environmental improvement projects

44
Q

EU Competition Policy

A

Sets out rules designed to ensure free and fair competition between firms in the SEM

45
Q

EU Competition Policy rules cover (4)

A
  • Large mergers or takeovers
  • Monopolies and cartels
  • Governments
  • Deregulation of monopolies
46
Q

Benefits of EU membership to business (3)

A
  • Access to a large and wealthy market
  • EU grants to industry
  • CAP
47
Q

Benefits of EU membership to employees (2)

A
  • Encouragement of TNC’s to invest in Ireland. creating thousands of jobs
  • Enhanced employees’ legal rights
48
Q

BenEfits of EU membership to consumers (3)

A
  • Same currency
  • Increased choice
  • Strong consumer protection legislation
49
Q

Benefits of EU membership to economy and environment (3)

A
  • More responsible taxation and spending policies
  • CAP and structural fund payments
  • Businesses more environmentally responsible
50
Q

Issues facing Ireland as a member of the EU (4)

A
  • Ireland needs to take greater advantage of the eurozone
  • Ireland needs to conform with EU rules regarding proper management of the economy
  • Net contributor to the EU budget
  • Increased competition for investment
51
Q

Issues facing the entire EU (5)

A
  • Protecting the stability of the euro currency
  • Tax harmonisation
  • Industrial reform
  • Budget reform
  • Tackling climate change
52
Q

Tax Harmonisation

A

Having the same rates of taxation in all EU countries

Business (11 decks)

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