European Union Flashcards
Common Market
Informal name for EEC
Council of Ministers
Consists of all the leaders of the countries, legislation is passed through here. Each minister gets to prez every
13 1⁄2 years, and they hold meetings as the European Council
crisis management
● Council put this at core of development of common security and defense of EU members.
● Crises defined as humanitarian, rescue, and peacemaking tasks.
Democratic deficit
Loss of direct control of political decisions by the people, is feared because of integration.
EC (European Community)
● Established in 1965, expanded EEC to beyond economics, unified approach to atomic energy.
● Development limited by disagreements of how much power to be given
EEC (European Economic Community)
● Established by the Treaty of Rome, informally named the “Common Market” in 1957
● Provisions for elimination of all tariffs between Euro nations and creation of new ones
Enlargement fatigue
People are not as willing to enlarge the EU because there aren’t that much more benefits to doing so.
European Central Bank
Bank has supranational authority to influence the economic policies of the member-states
European Constitution
● 2004, meant for replacing the overlapping set of treaties that govern interactions.
● In process of ratification, member-states keep delaying.
European Council
Heads of the Council of ministers convene every 6 months as the European Council.
European Court of Justice
● Supreme Court of the EU, has power of judicial review, decisions may limit national sovereignty.
● Has broad jurisdiction, hears cases on disagreements among commissioners, council of ministers, and MEPs
● Can also settle disputes among member nations, private companies, and individuals, 27 members.
European Parliament
Does not have a great deal of legislative power, members(MEP) directly elected by the people of their own
countries, may propose amendments to legislations, may reject proposals from Council, Council may override
with unanimous vote. Weakest of the bodies.
European Monetary Union
Has the power to set basic interest rates and other fiscal policies
EU
● 1991 Maastricht Treaty established EU, gave it authority in new areas such as monetary policy, foreign affairs, national security, transportation, the environment, justice and tourism.
● Important goal was to coordinate economic policies through a common currency, euro.
Farm subsidies
Guarantees of selling goods at high prices. So far, very expensive, have yet to improve farm efficiency