EU - EU terms explained (EN-EN)

STUDY
PLAY
devolution
the process of decentralizing the unitary state to share policymaking power with regional governments
integration
a process that encourages states to pool their sovereignty in order to gain political, economic, or social clout
supranational organization
A venture involving three or more nation-states involving formal political, economic, and/or cultural cooperation to promote shared objectives. The European Union is one such organization
security council
Five permanent members( US, UK, France, China, USSR) with veto power in the UN. Promised to carry out UN decisions with their own forces.
the EEC
Usually called the Common Market, in 1957, six European nations signed the Treat of Rome, which provided for the gradual abolition of tariffs and import quotas among the six member nations. (France, West Germany, Italy, Belgium, the Netherlands, and Luxembourg)
common market
the EEC
the EC
established to expand the EEC beyond economics
the EU
is the new regional European block of countries, which provides for closer unification of the economic, social and political systems of the member states.
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.
euro
the basic currency shared by the countries of the European Union since 1999
European Central Bank (ECB)
The banking institution whose governing council controls the money supply and sets short term interest rates for the EU
three pillars (sphere of authority)
1. trade and other economic matters, including economic and monetary union into a single currency, and the creation of the Europeqn Central Bank 2. Justice and home affairs, including policy governing asylum, boarder crossing, immigration, adb judicial cooperation on crime and terrorism 3. common foriegn and security policy, including joint positions and actions, and cmmon defense policy
Commission
accredits private, nonprofit, organizations whose purpose is to encourage the attainment of high standards of instructional medical care
Council of Ministers
is the institution in the legislature of the European Union representing the governments of member states. The other half being the European parliament, which has members directly elected from their constituencies.
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
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
enlargement fatigue
rapid growth of EU has brought this, declining in support, French and Dutch declining Constitution, lost their enthusiasm for further growth, economic benefits are questionable
european Central Bank
The banking institution whose governing council controls the money supply and sets short term interest rates for the EU
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
ultimate decision-making body of the EU, it passes legislation from the commission into law and is comprised of one representative from each member state's government
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
monetary union
the agreement among the participating member states of the European Union to adopt a single hard currency and monetary system.
farm subsidies
Paying Federal monies to aid farmers--the premise operates on the notion that farmers not to grow certain crops so as to reduce supply and increase price.
free movement
opposed the expansion of slavery in new states (particularly out west) ; subcatagory of the Republican party who were also abolitionists ; popular during the late antebellum period ; Abe Lincoln was the most influential person of this political party
Lisbon treaty
2007 EU agreement that streamlines decision making and strengthens the positions of the EU president and foreign policy chief
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 economy in which private enterprise exists in combination with a considerable amount of government regulation and promotion
monetary policy
Government policy that attempts to manage the economy by controlling the money supply and thus interest rates.
requirements for EU membership
1) a stable and functioning democratic regime. 2) a market-oriented economy. 3) willingness to accept all EU laws and regulations.
restructuring
Redesigning an organization so that it can more effectively and efficiently serve its customers.
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
began with the near collapse of the Greek economy, it is the debate between the proper balance between economic liberalism and economic nationalism
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.