The Effect Of The Contemporary Banking Crisis Essay

Three bodies run the European Union. The EU Council represents national governments. The European Parliament is elected by the people. The European Commission ensures that all members act consistently in regional, agricultural, and social procedures. The three bodies maintain the laws governing the Union in these three ways: The European Union Council sets the policies and proposes new legislation. The political leadership, is held by a different head every six months.The European Parliament debates and approves the laws proposed by the Council. Its members are elected every five years. The European Commission staffs and enacts the laws. The European Union has an area called the Schengen Area which covers 26 out of 28 countries of the Union. This warranted movement to those living within its borders. Citizens and visitors can go across borders without showing passports or getting visas. The only time you would get stopped is random checks for drugs or crime. In addition, they won't tax any products manufactured in specific countries that would be sold to another member country. Practitioners can operate in any country of the Union that they

The European Union (EU) is economic and political union which is located in Europe in Brussels. It consists of 785 members representing the 492 million citizens of the 27 Member States of The European Union. Countries which join EU are Austria, Bulgaria, Belgium, Czech Republic, Greece, Hungary, Portugal, Cyprus, Estonia, Luxembourg, Denmark, Finland, Slovakia, France, Italy, United Kingdom, Germany, Ireland, Lithuania, Latvia, Malta, Netherlands, Poland, Spain, Romania, Slovenia and Sweden. EU is elected every 5 years throughout all the Members States.

The EU is run by a parliament. The parliament’s goal is to create laws that impact the lives in the member states. The parliament is comprised of one president whose term is two and one half years. The main role of the president is to oversee the activities of parliament. The president will also represent parliament in any international dealings and in official visits whether inside or outside the EU (Wikipedia, 2006).

The European Union consists of 28 member states and has a population of 503 million inhabitants, and a total surface area of over 4 million square miles. The EU has its own currency, the Euro, and the largest single market in the world. It is a global community and power and has a huge influence on our world today in many aspects, and has been slowly built up to what it is today through humanistic ideology , common interests, new structures, treaties, economic policy and the attempt of equality throughout.

European Law is very complex law , within EU law there is various different treaties which are in place. Two most significant treaties which have importance to the legislative process are The Treaty on European Union and the Treaty on the functioning of the European Union.

The European Commission – The commission is the EU’s administrative and executive body, it is headed by a president and has a further 24 commissioners.

Seven billion people affected. How can a single screw up lead to a mess that not even governments can fix? How can something so severe continue to damage countries financially 5 years after it began? Many people didn’t see it coming. But what’s worse is that the people that did see it coming, contributed to it. Yes. They fueled this mess. And now we can’t get out of it. This is the financial crisis of 2007 . Let’s dig in to where it all began.

The level of activity at the national level in regards to healthcare is currently very high. There are many healthcare policies, initiatives and trends that will affect the delivery of healthcare locally, nationally and globally in the future. Healthcare costs alone are rising due to emerging high end technologies, global pandemics (with increased international travel), and the continued increase in numbers of the aging population (which traditionally has shown a higher use of healthcare services).

The 4 main institutions in the EU are; The EU parliament, the Council of Ministers, the European council and the Commission.

The 2008 financial meltdown resulted in the most treacherous investment landscape observed since the great depression. The most notorious issue was the subprime mortgage crisis, which had a ripple effect felt through every market in the world. The banks, whose leverage rate should never have been higher than two times capitalization, surged as high as thirty to forty times market cap. With this level of exposure, any unforeseen market fluctuations could mean disaster. Lehman Brothers, the oldest investment bank on Wall Street, went bankrupt and thousands lost their jobs. Outside of finance, thousands of companies in the United States and abroad had to fire significant portions of their workforce, thus furthering the economic decline and plunging the US into an economic recession. In the late 1990s, Congress repealed the legislation separating commercial and investment banks, which resulted in investment banks overreaching their bounds. The Emergency Economic Stabilization Act of 2008 was enacted due to the effects of the subprime mortgage crisis, which allowed the US Treasury to spend billions of dollars to bail out the investment banks by purchasing distressed assets. However, the bailout plan has created a debate over whether it was a good idea for the government to bailout the investment banks. Also, if the government fared better or worse in the years following the bailout.

Everything we do or decide is influenced by politics. In the UK, there are many different levels of Government that have an impact on our lives. One of these levels is the European Union. The three main EU Institution are the European Commission, which promotes the common interest and the current president of the European Commission is Jose Manuel Barroso; the European Council and the Council, which is the voice of the Members States and the current president of the European Council is Herman Van Rompuy; the European Parliament that although is not part of the UK levels of government, it has a significant impact on European Union citizens. The European Parliament, together with the Council, debates and passes European laws and adopts the EU’s budget. The European Parliament has 736 members who represents all 27 members’ states of the EU. Its main role is to delegate legislation on issues such as transport, environment, equal opportunities and movement of workers and goods. In conclusion, the European Parliament is the voice of the people. The president of the European Parliament is Martin Schutz.

These states increased the Union’s population by 30 percent but only increased gross domestic product by four percent. The European Union has an unwieldly governing structure, the most important parts are the Commission and the European Council which make the rules and carry out executive functions. Two lesser but still important parts are the Parliament and the Court of Justice. The Commission has immense power with the domination of the Union budget and setting regulations for the member states. It is also the only permanent part of the executive

Financial Crisis between 2007 and 2009 was the worst economic crisis after the Great Depression in 1930s. This crisis was a worldwide crisis as it affected the financial system globally and led to collapse in economy. Financial intermediation is a process of banks that take funds from the depositor and lend them out to the borrower. In the financial transaction, financial intermediary acts as the middleman between two parties. Commercial bank, investment banks, pension funds are the example for financial intermediation. This kind of financial intermediary usually provide mortgage to the lender.

The balance between these two branches differed from country to country. With the gradual development of the EEC, more and more areas of public policy were transferred from national governments to the community with the result that the overall powers of the executives within member countries of the EU have increased while parliamentary powers have decreased.

The European Commission is the Executive (governmental) body of the EU, initiating legislative proposals and also managing the EU’s budget (Europa, 2007). Each commission operates for a five-year period, with meetings taking place in Brussels every Wednesday. The Commission consists of a President of the Commission and twenty-eight commissioners (some vice presidents). Employees of the Commission are organised according to department (Directorates-General) and answer to a Commissioner. The Commission exists in order to represent the interests of the whole of the EU (thus arguably the whole of Europe), as opposed to individual Member States. The Commission represents the EU on a global basis and is the main participant in negotiations in areas such as trade. The appointment of Commissioners is the responsibility of the Parliament, with all having previously assumed senior positions in politics in their own country, usually within its national government. Proposals are drafted by the senior civil servant (Director-General. A proposal may be adopted if more than half of the Commissioners decide to adopt it. Once agreed, all Commissioners must give their unconditional support – similar to the collective responsibility held by the Scottish executives and the UK. The Commission works closely with both