Key terms Flashcards
What is ‘intergovernmentalism’?
States are co-operating, but keeping thier sovereignty and national VETO.
What does ‘supranationalism’ mean?
A government above the national government.
The EU can create laws that all member states have too ably to.
What are the differences between negative and positive integration?
Negative: Elimination of barriers that restrict free movement of goods, services, and factors of production.
Positive: Refers to the creation of a common sovereignty through modification of existing institutions and the creation of new ones (harmonizing).
What is a ‘common market’?
A formal agreement where a group is formed amongst several countries that adopt a common external tariff in a common market.
The countries also allow free trade and free movement of labour and capital among the members. The common market is made to benefit all members economically.
What is a ‘customs union’?
Neighbouring countries who have a common trade policy, and thereby removing trade barriers such as tariffs.
The EU is a customs union.
What does it mean to have a ‘free trade area’?
Countries who aren’t members of the customs union, but have similar trade conditions with the members.
Explain what it means to ‘deepen’ and ‘widen’ the EU.
Widening: enlargement of member states.
Deepening: new policy areas where the EU is granted more power or more institutions are created (e.g. the monetary union)
What is ‘harmonization’?
Process of creating common standards across the internal market.
Harmonization aims to create consistency of laws, regulations, standards, and practices, so that the same rules will apply to businesses.
What is ‘mutual recognition’?
It guarantees that any product lawfully sold in one EU country can be sold in another. This is possible even if the product does not fully comply with the technical rules of the other country. (e.g. Cassis de Dijon)
What does it mean when the EU has ‘exclusive competence’?
Member states no longer have the power to introduce their own legislation and may act within strictly defined management and implementing powers delegated back to national governments by the EU through the legislation.
What is ‘differentiated integration’?
Participating in some parts of the EU, but not all, e.g., being part of the single market
What is ‘acquis communautaire’?
“Commitment to a uniform”.
The term for EU’s collective set of policies and obligations (treaties, legal acts, and court decisions) that apply to all member states at the same time (more or less)
What are the differences between ‘market-making’ and ‘market-shaping’?
‘Market-making’ stresses market efficiency, competition, innovation and ‘self-regulation’.
‘Market-shaping’ focus market stability and consumer protection and is less willing to leave the defining of risks and risk management to (e.g.) the banks.
