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The European Union 1
All photographs and graphics courtesy of
European Commission Audiovisual Library
http://europa.eu.int/comm/mediatheque/photo/index_en.html
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The European Union
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The EU, USA and Japan
Comparison between Japan-EU-USA population, share of world GDP, share of world trade
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Institutions
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Political
• EU Parliament – Currently 785 MEPs. Based in
France, Belgium and Luxembourg
– Passes laws, monitors budget, monitors EU institutions
• EU Council – Ministerial representations from each
member state
– Passes laws, approves EU budget, co-ordination
of economic policies, develops foreign policy,
co-ordinates anti-crime strategies
• EU Commission – 20 Commissioners appointed by
each member state every 5 years
– Proposes legislation, implements EU policies,
law enforcement, international co-ordination
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Financial
• European Central Bank – inflation target
of less than 2% per year, sets short term
interest rates for the whole eurozone area,
– Implements and monitors Eurozone monetary policy
• European Investment Bank –
‘owned’ by member states.
Raise finance through financial markets,
– Invest in projects to promote aims of EU –
large scale projects
• Court of Auditors – monitors legality
and efficiency of EU income and expenditure
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Legal
• Court of Justice – one judge
from each member state
– Interprets and applies EU legislation
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Member States pre-Enlargement
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Member States
Map reproduced with permission from www.theodora.com
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Enlargement - New Members
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Activities
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Agriculture
• CAP – Common Agricultural Policy
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Sustainablility
Food Quality
Animal Welfare
Food Safety
Control
Farmers welfare/incomes
Employment in agriculture
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Fisheries
• CFP – Common
Fisheries Policy
– Conservation
of fish stocks
– Aid to fishing industry
to cope with changing
circumstances
– Monitor supply
and demand for fish
– Negotiate with non-EU
members on fishing
issues
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Regions
• European Regional Development Fund
• European Social Fund
• European Agricultural Guidance and Guarantee
Fund
• Financial Instrument for Fisheries Guidance
– Aims to encourage development of poorer regions
– Increase employment opportunities
– Encourage new industry to locate in areas
of structural decline
– Develop infrastructure in poorer regions
– Encourage new training methods and facilities
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Finance/Economics
• Euro – monitor introduction and development
• Tax Harmonisation – reduce differentials
in tax regimes throughout the single market
to aid competition and transparency
• Single Market – free movement of goods,
services, labour and capital between
member states
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Eurozone 2001
Members of the Eurozone, 2001. UK, Denmark and
Norway currently outside the zone
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