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The EU and the Monetary Union

The EU and the Monetary Union. History 101. September 1946: Winston Churchill calls for "a kind of United States of Europe" as the only means of re-building society and creating a third force, independent of the newly dominant super-powers of the Soviet Union and the United States of America.

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The EU and the Monetary Union

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  1. The EU and the Monetary Union

  2. History 101 September 1946: Winston Churchill calls for "a kind of United States of Europe" as the only means of re-building society and creating a third force, independent of the newly dominant super-powers of the Soviet Union and the United States of America.

  3. The Treaty of Rome:1957 EC is born Belgium The Netherlands Luxembourg France Germany Italy

  4. The Treaty of Rome: Initial goals Free trade Deregulation of capital markets Free flow of labor

  5. Where was Britain? UK was supporting EFTA

  6. What was the difference between EU and EFTA? Different countries :) EU countries had no barriers to intra-EU trade and one set of common import duties and trade policies with respect to third countries. EFTA countries had no barriers to intra-EFTA trade, but retained independence in setting their trade policy with respect to third countries

  7. The Brussels Agreement: 1962 Import duties and taxes to protect European farmers Price controls on food products Subsidies to European farmers

  8. EU expansion 1972: Denmark, Ireland, and UK 1980: Greece 1986: Spain and Portugal 1995: Austria, Finland, and Sweden

  9. EU expansion: 2004 Czech Republic Lithuania Malta Cyprus Estonia Poland Hungary Slovakia Latvia Slovenia

  10. EU expansion: 2007 Romania Bulgaria

  11. EU objectives today To promote economic and social progress To assert the identity of the European Union on the international scene To introduce European citizenship (which does not replace national citizenship but complements it and confers a number of civil and politic rights on European citizens) To develop an area of freedom, security and justice To maintain and build on established EU law

  12. Organization of EU European Parliament European Executive Commission European Council European Court of Justice European Court of Auditors

  13. European Parliament (Strasbourg)‏ It exercises democratic supervision over the Commission It shares with the Council the power to legislate It shares budgetary authority with the Council Elected every five years by direct universal suffrage - party (not country) representation

  14. European Commission (Brussels)‏ The Commission is the Union's executive body It represents the Union on the international stage and negotiates international agreements

  15. European Council (Brussels)‏ The Council is the EU's main decision-making body Decision making: Consensus

  16. Court of Justice (Luxembourg)‏ The Court of Justice ensures that Community law is uniformly interpreted and effectively applied. It has jurisdiction in disputes involving Member States, EU institutions, businesses and individuals

  17. Court of Auditors (Luxembourg)‏ It sees that financial management of the EU budget has been sound.

  18. European Central Bank The European Central Bank frames and implements European monetary policy

  19. Decision making By consensus

  20. The Accord of Nice on EU expansion and institutional reform Expansion into Eastern Europe Institutional reform: Qualified majority (at least 14 countries and 62% of total population) instead of unanimity in making decisions, in 39 areas of interest

  21. THE COMPETENCES OF THE UNION • Traditional EU policy areas • Coordination of economic policy (I-15)‏ • Special rules for the Euro zone (I-15.1 and protocol)‏ • Common foreign and security policy, and gradually a common defense Area of Freedom, Security and Justice (I-42)‏ • EU negotiates international agreements on behalf of all member states in areas where EU can legislate internally • Legal personality (I-7, I-40, I-41, I-42)‏

  22. EXCLUSIVE COMPETENCES • Customs Union • Competition rules for the functioning of the internal market • Monetary policy for the Euro countries • Conservation of marine biological resources • Common commercial policy • International agreements = “legal personality”

  23. Points of contention • Length and complexity: It is very long, at over 60,000 words compared to the 4,600-word US Constitution • Qualified majority voting • Union law and national law • Trappings of statehood: the TCE introduces a number of elements that are traditionally the province of sovereign states: flag, motto, anthem • Lack of democracy • Secularism • Militarism • Economic policy • Human rights

  24. EU Constitution Ratification Map

  25. The Treaty of Lisbon (13 December 2007)‏ • A strengthened European Parliament • Rules for withdrawal from the Union • Qualified majority voting in the Council & double majority (in 2014): 55% of the Member States representing at least 65% of the Union’s population • The function of President of the European Council • Charter of Fundamental Rights (civil, political, economic and social rights) into European primary law: binding legal force • New provisions on civil protection, humanitarian aid and public health • A new High Representative for the Union in Foreign Affairs and Security Policy, new European External Action Service, single legal personality for the Union

  26. EU in 2009 http://europa.eu/abc/european_countries/index_en.htm

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