The European Union (EU) is a politico-financial union of 28 part expresses that are found predominantly in Europe. The EU works through an arrangement of supranational foundations and intergovernmental-arranged choices by the part states. The establishments are: the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, the European Central Bank, the Court of Auditors, and the European Parliament. Every five years, the European Parliament is chosen by the votes of the citizens of the EU.
The EU follows its roots from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), framed by the Inner Six nations in 1951 and 1958, …show more content…
The money related union was secured in 1999 and came into full constrain in 2002. It is presently made out of 19 part expresses that utilization the euro as their circulating medium. Through the Common Foreign and Security Policy, the EU has built up a part in outside relations and resistance. The union keeps up lasting strategic missions all through the world and represents itself at the United Nations, the WTO, the G8, and the G-20.
With a joined populace of more than 500 million tenants, or 7.3% of the world populace, the EU in 2014 produced an ostensible total national output, or Gross Domestic Product (GDP) of 18.495 trillion US dollars, constituting give or take 24% of worldwide ostensible GDP and 17% when measured regarding acquiring force equality. Starting 2014 the EU has the biggest economy on the planet, producing a GDP greater than some other financial union or nation. Furthermore, 26 out of 28 EU nations have a high Human Development Index, as indicated by the UNDP. In 2012, the EU was honored the Nobel Peace Prize.
After World War II, European assimilation was looked at as an outbreak from the extreme nationalism that had ravaged the entire continent. The 1948 Hague Congress was a crucial crossroad in the European government history, as it prompted the formation of the European Movement
The European Union was initially set up as a means to terminate the conflict that occurred within Europe throughout the 20th century, culminating with the end of The Second World War (WWII) and The Cold War that followed. The EU ultimately aimed to bring the member countries together in order to form an ‘ever closer union’ between the countries of Europe, thus preventing a future battle. The Union started as the European Economic Community (EEC), which was established in 1957, and over the years endured numerous adjustments to form the politico-economic union that we know of today.
Nowadays, European Union is not a state; it can be defined as an association of corporate bodies, including the part states and the European Institutions .It has built up another sort of political framework that goes past the traditional intergovernmentalism and has considerable components of supra-nationality. Before it was made, it was almost impossible to develop a political arrangement of majority rule administration separated from the institutionalized country state model.The improvement of the Union has
The introduction of a social and economic grouping is often to create a single market, such as was the case with the EU and NAFTA. The European Union is an economic and political union of 27 member states which are located in Europe – its roots are with the EEC which was formed in 1957. The European Union was fully established when the Maastricht Treaty came into force on 1st November 1993. The original objective of the EU was to create such single market, so that there was the free circulation of goods,
The Council of the European Union (EU) and the European council are both institutions of the EU. They have varying roles that are sometimes shared to fulfil duties within the EU that crucial to its functioning properly. The European Council defines the direction and the priorities of the EU, it is formed from heads of state and/or the government of a member state combined with its President and the President of the Commission. The Council of the EU represents the member states’ governments and it is also where the national ministers of each EU country meet up to adopt laws and coordinate policies. To explain properly, it must be clear of the main features that exist in the roles that these two institutions provide, these are supranational and intergovernmental features. The two Councils are supranational, this means they are legal systems that sit above (supra) national level, and therefore is of higher status the law made at national level. They are also intergovernmental meaning their roles are related or conducted between two or more governments , in this case the governments of the member states.
The European Union launched the economic and monetary union (EMU) of Europe on January 1st, 1999. January 1st of 2002 marked the establishment of a single currency through the introduction of euro bills and coins to 12 EU states. Formally called the “eurozone”, the movement to a single currency has developed as 18 EU member states currently use the euro. Desiring further political integration, the EMU was designed to maintain price stability through a central bank known as the European Central Bank (ECB). Although economic certainty was the goal, a financial crisis that erupted within the eurozone lead to questions about the credibility of the EMU. The debate over political integration was furthered by the introduction of ideas for increased fiscal federalism, similar to the current policies within the United States currency union. For a monetary union to succeed, a fiscal union is necessary to solve the vulnerabilities of the EMU and supervise national policy to prevent macroeconomic imbalances throughout Europe. However, the dispute over political centralization impedes the establishment of such a fiscal system within the upcoming decade.
Since its founding in 1958, the European Union’s main purpose has been to promote peace, human rights, cooperation, democratic ideals, and the well-being of the European people. It has enabled Europe to emerge from destruction of World War II with a much unified marketplace, connected through a single currency, the Euro. The EU is a unique structure in that it is one of the biggest governing alliances worldwide that has been reasonably successful in its purpose. There are several elements of the structure, such as the European Council, European Parliament, Council of the EU, and the European Commission, as well as many others that help the EU to run efficiently and effectively.
The European Union (“EU”) is an economic and political vehicle between 28 European countries, including the United Kingdom, that allows national governments to pursue shared and national interests. The United Kingdom became a Member State in 1973. The EU was born out of a quest for peace following the devastating effects of World War II. To that end, six nations signed the European Coal and Steel Community Treaty, in 1951, to share their coal and steel resources. This agreement was subsequently replaced by the European Economic Community (“EEC”), which was eventually renamed the “European Community” (“EC”). The EU, which was created by the Maastricht Treaty, replaced the EC when it formally came into being in 1993 following ratification of the Treaty of the European Union (“TEU”) by Member States.
The European Union has aims which are to promote peace, maintain its values and maintain the wellbeing of the people. Even though there are other organisations which also aim to do this, the EU is unique as it has to balance the national interest, common interest of the EU, democratic representation and also geographical representation. The EU has executive bodies which enable it to make decisions throughout the process: the Commission, Council of Ministers and the European Parliament.
The European Union (EU) is the union of economic, monetary and political with twenty-seven Member States. They work together, in order to get particular advantages for their countries. This has been argued by Bickerton, the shift from nation-states to Member States led to a subtle and not unproblematic. However, the countries are free to choose want to join or withdraw from the EU. EU consists of various institutions, but with only three institutions are involved in the EU legislative process. These are the Council, the European Parliament and the European Commission. Over the years the EU has been expanded, consequently various treaties have been signed to work together. The latest treaty is the Lisbon Treaty, which was an
The EU previously known as the European Community can be defined as a unique partnership between 28 European member-states operating as the world’s largest single market. The union originated in 1957 through its successor – the European Economic Community (EEC) which at the time had six members. In 2013, the market had a population of around 505 million people and accounted for 23% of global Gross Domestic Product (GDP), amounting to €13.08 trillion (European Immigration Service, 2014).
The European Union (EU) is a politico-economic partnership between 28 European countries, created in the aftermath of the Second World War. Its main purpose was to stimulate economic cooperation because it is thought that countries that trade with each other become economically interdependent, therefore conflicts are more likely to be avoided. As a result, the European Economic Community was established in 1958, originally to increase economic collaboration between six countries – France, Belgium, Italy, Germany, Luxembourg and the Netherlands. A large single market has been created and continues to develop towards its full potential ever since.
The first significant step towards this was the eventual establishment of the European Union in 1993 was the establishment of the ECSC, which was an organization established by France, West Germany, Italy, Belgium, the Netherlands, and Luxembourg (the Six) . The establishment of the ECSC was promoted by the developing idea of Europeanism amongst these six nations, who became disillusioned with Britain’s lack of involvement in the European community, as Britain was a member of the European Economic Cooperation and the Council of Europe, but had no intention of participating in a common market economic
The European Union is a political community constituted as an international organization whose aim is to promote integration and a common government of the European people and countries. According to the Article 3 of the European Union Treaty, Union’s aim is to promote peace, its values and the well-being of its peoples. It is based on the values of freedom, democracy, equality, law enforcement and respect for human rights and dignity.
The European Union is a group of democratic countries, which was founded in 1957, with 6 countries signing the Treaty of Rome. (Roberts et.al, 2008). It was to increase economic prosperity and contribute to an ever closer union among the peoples of Europe and committed to working together e.g. shared currency, financial management, legislative, judicial and executive bodies, regulatory and planning bodies. The main objectives of the EU was to create a unified business environment, the harmonization of company laws and taxation and the freedom of the movement of capital which is closely related to bringing company law of member states into closer agreement. Moreover, The EU set directives for the countries to follow in an attempt to harmonize accounting practices. The two main directives are the fourth directive and the seventh directive, which we will discuss below.
To fully appreciate the position of the European Council within the European Union we first took a brief look at how the European Union came about. The European project first started soon after the second world with the creation of the ECSC (European Coal and Steel Community) to harmonise relations between the Nations of Europe and to prevent any further conflicts of the scale of the wars that had preceded its creation. The new spirit of cooperation aimed to bring about a new era of peace and prosperity across Europe. The founding nations were Belgium, France, Germany, Italy, Netherlands and Luxemburg. The first enlargement came in 1973 when Ireland, Denmark and the United Kingdom joined the EU. Since then a further 18