EU Vocabulary

Maastricht Treaty

1992 treaty to create political unity. Created economic and political integration by common currency (the euro), same passport for all countries, and common banking system/law enforcement. Three pillars.

Common Agricultural Policy (CAP)

A policyolicy based on the principle that a subsidy extended to farmers in any member country should be extended to farmers in all member countries. Uses about 40% of the EU's budget annually. Designed to keep agricultural prices high.

Requirements for EU membership

A stable and functioning democratic regime, a market-oriented economy, and willingness to accept all EU laws and regulations.

Supranational Organization

A venture involving multiple nation-states with formal political, economic, and/or cultural cooperation to promote shared objectives. The European Union is one such organization.

European Economic Community (EEC)

An economic organization established in 1957 to reduce tariff barriers and promote trade among the countries of Belgium, Luxembourg, the Netherlands, France, Italy, and West Germany. These countries became the original members of the European Community in 1965.

Council of Ministers

An institution in which the relevant ministers (foreign, economic, agriculture, finance, etc) of each member state meet to enact legislation and reconcile national interests.

European Community (EC)

An organization promoting economic unity in Europe formed in 1967 by consolidation of earlier, more limited, agreements. Replaced by the European Union (EU) in 1993.

EU Citizenship

EU citizens have thee right to circulate within the EU, the right to vote in the state in which they reside, right to protection from their state's authorities, and the right to petition the EU parliament.

Monetary Policy

Government policy that attempts to manage the economy by controlling the money supply and thus interest rates.

Three Pillars

Informal term denoting the main areas in which the EU has worked since the Maastricht Treaty. 1. Involvement in trade and other economic matters 2. Cooperation in justice and home affairs. 3. the desire to create a Common Foreign and Security Policy which is the most visionary and controversial aspect of the EU today.

European Council

Institution that defines the general priorities and goals of the European Union. Comprised of the heads of state or heads of government of the member countries, the President of the EU, the President of the Commission, and the High Representative.

MEPs

Members of the European Parliament - have a say over EU budget, bowing to national government in only a handful of areas like tax and foreign policy.

European Coal and Steel Community (ECSC)

Organized by Jean Monnet (1888-1979). Called for an integration of the coal and steel industries of France and West Germany. Eventually included West Germany, Italy, Belgium, Netherlands, Luxembourg, and France. Meant as a measure to prevent further war and spur economic dependence.

European Parliament

Passes the majority of the EU's laws; is the only EU institution that meets and debates in public; is elected by all the citizens of the EU and represents their interests. Has the power to propose legislation as of 2009.

Common Market

Popular name for the European Economic Community established in 1951 to encourage greater economic cooperation between the countries of Western Europe and to lower tariffs on trade between its members.

Lisbon Treaty

Reformation of the EU that was ratified in 2009. Gave more power to the ECJ, created a high representative to promote the EU's foreign policy, and redistributed voting weight based on population and size of country. Gave more power to the European Parliament as the branch that is directly elected by the populace.

European Commission

Responsible for proposing, implementing, and monitoring compliance with EU legislation; run by a group of commissioners appointed by each member country

European Court of Justice (ECJ)

Supreme Court of the EU, has power of judicial review, interprets European law, decisions may limit national sovereignty, more powerful that most national judicial systems in EU member states, broad jurisdiction, hears cases that rule on disagreements among different branches, 27 judges.

European Monetary Union

The agreement among the participating member states of the European Union to adopt a single hard currency and monetary system

European Central Bank (ECB)

The central bank of those members of the European Union who share a common currency (the euro).

Democratic Deficit

The criticism made of the European Union that there is a gap between the European Community institutions and the people they represent.

Qualified Majority

Voting method in the Council of Ministers for deciding most EU legislation, which gives member states voting power depending upon their size and defines how many votes constitute a majority.