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European Union....latest

European Union....latest

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Published by Agam Singh Dilawari
Complete latest analysis and research work of European Union and its subsidiaries
Complete latest analysis and research work of European Union and its subsidiaries

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Published by: Agam Singh Dilawari on Sep 06, 2011
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04/13/2012

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The European Union

THE EUROPEAN UNION
50 Years of Peace, Prosperity and Partnership

The European Union
The European Union:
• Since the creation of the EU half a century ago, Europe has enjoyed the longest period of peace in its history.
• EU enlargement has helped overcome the division of Europe – contributing to peace, prosperity, and stability across the continent. • A single market and a common currency conditions for companies and consumers. • EU has united the citizens of Europe – while preserving Europe’s diversity.

European Union

The European Union
What is the European Union?

27

Member States

Combined population of EU Member States

490
million

• 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.

7

Percent of world’s population Percent of global GDP

30

• World’s most open market for goods and commodities from developing countries.

55

Percent of combined worldwide Official Development Assistance

The European Union EU Institutions
European 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.

European Commission President José Manuel Barroso (Portugal)

The European Union EU Institutions
European Parliament • Voice of European citizens – members elected for five-year terms. • With the Council, passes EU laws and adopts EU budgets.
European Parliament in session

• 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 the ECJ can only deal with matters covered by the Treaties.

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 16 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 €uro

The European Union

The €uro
€ In 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, sixteen 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 bestperforming currencies previously used in the euro area countries.

The European Union
1951:

European Coal and Steel Community
• 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.

Jean Monnet and other leaders with the first “European” ingot of steel

The European Union
1957:

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.

Signing of the Treaty of Rome

The European Union

1951 Founding Members Belgium France Germany Italy Luxembourg Netherlands

The European Union

1973

Denmark Ireland United Kingdom

The European Union

1981

Greece

The European Union

1986

Portugal Spain

The European Union

1995

Austria Finland Sweden

The European Union

2004

Cyprus Czech Republic Estonia Hungary Latvia Lithuania Malta Poland Slovakia Slovenia

The European Union

2007

Bulgaria Romania

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

Enlargement has:
“Enlargement has been a success story for the European Union and Europe as a whole. It has helped to overcome the division of Europe and contributed to peace and stability throughout the continent.” European Council Declaration Dec. 15, 2006

• Inspired reforms and consolidated common principles of liberty, democracy, respect for human rights, fundamental freedoms, the rule of law, and market economy.

• Enhanced the EU’s weight in the world and made it a stronger and more attractive international partner.
1957 Member States Population Languages 6 174 million 4 2007 27 493 million 23

The European Union
Addressing Global Challenges
• Trade – European Commission represents all 27 EU Member States before the World Trade Organization.

– Supports free trade and open markets, within the rules-based structure of the WTO, to promote growth and jobs in both industrialized and developing countries.
– The world's most open market for products and commodities from developing countries – 40% of all EU imports are from developing countries.

The European Union Economy
• The economy of the European Union generates a GDP of over €12,279.033 trillion (US$16,228.23 trillion in 2010) according to the IMF, making it the largest economy in the world. • The EU economy consists of a single market and the EU is represented as a unified entity in the WTO. • The operation of the EU has an agreed budget of €141 billion for the year 2011, and €862 billion for the period 2007–2013

The European Union Imports & Exports
• With just 7% of the world’s population, the EU's trade with the rest of the world accounts for around 20% of global exports and imports. • The EU is the world’s biggest exporter and the second-biggest importer.

• Around two thirds of EU countries’ total trade is done with other EU countries.
• The United States is the EU’s most important trading partner, followed by China. In 2005, the EU accounted for 18.1% of world exports and 18.9% of imports. • European Union is the largest trader in agricultural products. Total trade in agricultural products amounted to almost €153 billion in 2007, split between EU imports of €77.4 billion and exports of €75.1 billion

The European Union

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