32 terms

European Union - Review Book

Terms from the European Union chapter of the review book
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The Commission
One member for each state of the EU, supported by a bureaucracy of several thousand European civil servants. The Commission is headed by a president. Commissioners share an oath of allegiance to the EU and are not supposed to take directions from their national governments. Main responsibility: initiate and implement new programs, and it forms permanent executive that supervises the work of the EU, similar to a national cabinet
Common Market
an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members
The Council of Ministers
(the most powerful): the "Congress" of Europe; meets in Brussels; representatives of all EU nations vote and create EU legislation
Crisis management
a coordinated effort to handle all the effects of unfavorable publicity or of another unexpected unfavorable event
Democratic deficit
The criticism made of the European Union that there is a gap between the European Community institutions and the people they represent
EC
an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members
Economic liberalism
An ideal that suggests that people are happiest and economy thrive most when governments minimize their regulation, monitoring, and control over the work we do and the kinds of goods we buy & sell
Economic structural adjustment
would mean part of the debt would be forgiven, supporters claim it would be the only way for weak nations to recover, others believe restructuring makes the strong pay for the weak
EEC
an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members
Enlargement fatigue
brought on by the rapid growth of the EU, it is a decline in support for enlargement among EU voters
European Central Bank
the central bank of those members of the European Union who share a common currency
European Constitution
A European Union document not yet ratified, which incorporates a charter of fundamental rights; merges the judicial, economic, and defense aspects of the EU; establishes the European Council; and raises the number of seats in Parliament, among other things
European Council
the ultimate controlling authority within the EU
European Court of Justice
The "Supreme Court of Europe", with active jurisdiction over all EU members and the power to strike down EU states' domestic laws (judicial review)
European Parliament
made up of 732 members directly elected by member states' populations, it serves as a consultative body to debate and propose amendments to the legislation forwarded from the council
European Monetary Union
the agreement among the participating member states of the European Union to adopt a single hard currency and monetary system.
EU
an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members
Farm subsidies
paying farmers not to grow certain crops so as to reduce supply and increase price
Free movement
Free movement of EU citizens and non-EU nationals - Has involved setting policy regarding visas asylum, and immigration,
Integration
the action of incorporating a racial or religious group into a community
Lisbon Treaty
2007 EU agreement that streamlines decision making and strengthens the positions of the EU president and foreign policy chief
Maastricht Treaty
a treaty created in 1991 that set strict financial criteria for joining the proposed monetary union, with it single currency and set 1999 as the start date for its establishment.
MEPs
Members of the, Members of the European Parliament - have a say over EU budget, bowing to national government in only a handful of areas like tax and foreign policy
Mixed economy
an economic system that combines private and state enterprises
Monetary policy
The management of the money supply and interest rates
Requirements for EU membership
a stable and functioning democratic regime, a market-oriented economy, and willingness to accept all EU laws and regulations
Restructuring
a new way of thinking about a problem that aids its solution
Social market economy
economic form, major industries are owned by state entities, but compete with each other within a pricing system set by the market
Sovereign debt crisis
Financial crisis due to excessive growth of public budget's deficit which has led to incapacity for payment of current liabilities and obtaining new loans from private banks or international institutions, such as the IMF, the World Bank or European Central Bank.
Supranational organizations
the collections of individual states with a common goal that may be economic and/or political in nature; such organizations diminish, to some extent, individual state sovereignty in favor of the group interests of the membership
"Three pillars"
Informal term denoting the main areas in which the EU has worked since the Maastricht Treaty. 1. the traditional involvement in trade and other economic matters 2. cooperation in justice and home affairs 3. the desire to create a Common Foreign and Security Policy which is the most visionary and controversial aspect of the EU today
Treaty of Amsterdam
Treaty, concluded in 1997, that addressed issues left undone by the Maastricht Treaty & identified priority measures necessary to bring a single market in Europe fully into effect & to lay a solid foundation for both a single currency & an enlargement of the European Union into central & eastern Europe.