Post on 11-Aug-2015
The European Union
What is the European Union?
• Shared values: liberty, democracy, respect for human rights and fundamental freedoms, and the rule of law.
• Largest economic body in the world.
• World’s most successful model for advancing peace and democracy.
• A unique institution – Member States voluntarily cede national sovereignty in many areas to carry out common policies and governance.
• Not a super-state to replace existing states, nor just an organization for international cooperation.
• World’s most open market for goods and commodities from developing countries.
27
7
30
490million
Member States
Combined population of
EU Member States
Percent of world’spopulation
Percent of global GDP
55Percent of combinedworldwide OfficialDevelopment Assistance
The European Union
EU InstitutionsEuropean Commission
• 27 Commissioners, representing the European perspective, each responsible for a specific policy area.
• EU’s executive branch proposes legislation, manages Union’s day-to-day business and budget, and enforces rules.
• Negotiates trade agreements and manages Europe’s multilateral development cooperation.
Council of the European Union
• EU’s main decision-making body, comprised of ministers of 27 Member States, representing Member State’s point of view.
• Decides on foreign policy issues.
• Council presidency rotates among Member States every six months.
European Commission President José Manuel Barroso
The European Union
EU InstitutionsEuropean Parliament
• Voice of European citizens – members elected for five-year terms.
• With the Council, passes EU laws and adopts EU budgets.
• Approves EU Commissioners.
European Court of Justice
• Highest EU judicial authority.
• Ensures all EU laws are interpreted and applied correctly and uniformly.
• Can act as an independent policy maker but unlike the U.S. Supreme Court, the ECJ can only deal with matters covered by the Treaties.
European Parliament in session
The European Union
European Central Bank
• The European Central Bank (ECB) is the central bank for Europe's single currency, the euro.
• The ECB’s main task is to maintain the euro's purchasing power and thus price stability in the euro area.
• The euro area comprises the 15 European Union countries that have introduced the euro since 1999.
• The ECB operates independently from Member State governments.
The euro was introduced in 1999
The European Union
The €uroIn 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States.
Of the 27 EU Member States today, fifteen have adopted the euro.
One of the striking benefits of a single European currency are low interest rates due to a high degree of price stability.
The euro is as stable and credible as the best-performing currencies previously used in the euro area countries.
€
€
€
€
The European Union
1951:
• In the aftermath of World War II, the aim was to secure peace among Europe’s victorious and vanquished nations and bring them together as equals, cooperating within shared institutions.
• Based on a plan by French Foreign Minister Robert Schuman.
• Six founding countries – Belgium, the Federal Republic of Germany, France, Italy, Luxembourg and the Netherlands – signed a treaty to run heavy industries (coal and steel) under common management.
European Coal and
Steel Community
Jean Monnet and other leaders with the first “European” ingot of steel
The European Union
Treaty of Rome
• The six founding countries expanded cooperation to other economic sectors, creating the European Economic Community (EEC) – or “common market.”
• As a result, people, goods, services, and capital today move freely across the Union.
1957:
Signing of the Treaty of Rome
The European Union
November 1989
Fall of theBerlin Wall
sets thestage forunifying
Europe andEU
enlargement
The European Union
2004
CyprusCzech Republic
EstoniaHungaryLatvia
LithuaniaMaltaPoland
SlovakiaSlovenia
The European Union
Candidate Countries
Croatia
Former Yugoslav Republic of Macedonia
Turkey
Potential
Candidate Countries
Albania
Bosnia & Herzegovina
Montenegro
Serbia including Kosovo under UN Security Council
Resolution 1244
The European Union
The European Union and the United States
“Our strong friendship is essential to peace and
prosperity around the globe. No temporary debate, to
passing disagreement among nations, no power
on earth, will ever divide us.”
President George W. Bush
“The relationship between the United States and Europe is the
world’s strongest, most comprehensive, and
strategically important partnership. The United States,
and a united Europe – this is really the indispensable
partnership.”
President of theEuropean Commission José Manuel Barroso
The European Union
Shared Values and Responsibilities
• Freedom & DemocracySupport free elections, good governance, human rights, and the rule of law around the world.
• SecurityCooperate to fight terrorism, limit the spread of nuclear weapons, and work for global peace.
• DevelopmentTogether, EU and U.S. provide 80% of global development assistance and an even larger share of global humanitarian aid in times of disaster and conflict.
The European Union
• European companies are the leading foreign investors in the U.S.
– The UK, Germany, France, and the Netherlands – top four sources of jobs created by foreign investment in the United States.
• American companies invest far more in EU countries than in Asia.
– U.S. businesses make 5 times the profit in the Netherlands - alone - as they make in China.
– In 2005, EU investments in Texas alone surpassed all U.S. investments in China and Japan, combined.
BMW’s assembly plant is South Carolina’slargest private sector employer.
The European Union
“Since no single nation can efficiently
and effectively deal with global
challenges such as climate change,
counterterrorism, non-proliferation,
pandemics and natural disasters on its
own, we commit ourselves to
strengthening our cooperation to
address these challenges.”
EU-U.S. Summit Declaration
Vienna, July 2006