Flashcards: Economy of the European Union

The European Union is the second largest economy in the world (if treated as a single country) in nominal terms and according to purchasing power parity (PPP).

European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another.

CE marking is a mandatory conformity marking for certain products sold within the European Economic Area (EEA) since 1985.

The euro sign (€) is the currency sign used for the euro, the official currency of the Eurozone in the European Union (EU).

The European Investment Bank (EIB) is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome.

The Economic and Monetary Union (EMU) is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages.

The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.

(Not to be confused with the Eurosystem.) The European System of Central Banks (ESCB) consists of the European Central Bank (ECB) and the national central banks (NCBs) of all 28 member states of the European Union (EU).

The European Single Market, or Internal Market, is a single market that seeks to guarantee the free movement of goods, capital, services, and people – the "four freedoms" – within the European Union (EU).

The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991.

The eurozone (), officially called the euro area, is a monetary union of 19 of the 28 European Union (EU) member states which have adopted the euro (€) as their common currency and sole legal tender.

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world.

The European Economic Area (EEA) is the area in which the Agreement on the EEA provides for the free movement of persons, goods, services and capital within the European Single Market.

The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone Member States having ratified a special ESM intergovernmental treaty.

The Economic and Financial Committee (EFC) is a European Union advisory body, defined by the article 134 of the Treaty on the Functioning of the European Union.

Although the European Union has legislated in the area of energy policy for many years, the concept of introducing a mandatory and comprehensive European Union energy policy was only approved at the meeting of the informal European Council on 27 October 2005 at Hampton Court.

The Economic and Financial Affairs Council (ECOFIN) is one of the oldest configurations of the Council of the European Union and is composed of the economics and finance ministers of the 28 European Union member states, as well as Budget Ministers when budgetary issues are discussed.

The European Insurance and Occupational Pensions Authority is a European Union financial regulatory institution that replaced the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).

The Euro summit (also referred to as the eurozone summit or euro area summit) is the meeting of the heads of state or government of the member states of the eurozone (those EU states which have adopted the euro).

The international status and usage of the euro has grown since its launch in 1999.

The enlargement of the eurozone is an ongoing process within the European Union (EU).

The Brussels Business is a documentary film by Friedrich Moser and Matthieu Lietaert about the lack of transparency and the influence of lobbyists on the decision-making process in Brussels, the European Union capital.

Germain Pirlot (born 18 March 1943 in Sart-Custinne, Gedinne, Belgium) is a Belgian esperantist and ex-teacher of French and history, presently living in Ostend.

The European recession is part of the Great Recession, which began inside the United States.

The Rural Payments Agency (RPA) is an executive agency of the UK Department for Environment, Food and Rural Affairs (Defra).

Transport in the European Union is a shared competence of the Union and its member states.

Article 101 of the Treaty on the Functioning of the European Union prohibits cartels and other agreements that could disrupt free competition in the European Economic Area's internal market .