E. 1990 1999: Europe without Frontiers a. 1992 1. The Treaty on European Union was signed in Maastricht. i.

. Three pillars of EU: the European Community pillar, the Common Foreign and Security Policy, and the Justice and Home Affairs pillar ii. European Community European Union iii. single market and major trading bloc iv. coordinated national economic policies iii. initiates a 3-stage process to culminate in the economic and monetary union: eurozone o Principal features: - Single currency - Coordination of members fiscal policies on the magnitudes of public debt and budget deficits - Common monetary policy under a single central bank o 3 major objectives of the proposed monetary union: - Microeconomic efficiency - Macroeconomic stability - Equity o Entry criteria for membership: - Inflation rate not exceeding by more than 1.5% that of the 3 best-performing member states - Budget deficit not exceeding 3% of GDP and public debt of less than 60% of GDP - Long-term interest rate not exceeding by more than 2% of the 3 best performing member states - Stable exchange rate iv. common foreign and security policy v. closer cooperation in justice and home affairs b. 1993 1. Copenhagen European Council i. provided criteria for membership - presupposes the candidates ability to take on the obligations of membership including adherence to the aims of political, economic, and monetary union. ii. existence of a functioning market economy as well as the capacity to cope with competitive pressure and market forces within the union

2. The single market (internal market) and its four freedoms were established. i. goods ii. services iii. people iv. money c. 1995 1. Austria, Finland and Sweden joined the EU. Date Joined Current EU Date Joined New EU Member States Member States April 18, 1951 (1) Germany January 1, 1995 (13) Austria (2) France (14) Finland (3) Italy (15) Sweden (4) The Netherlands (5) Belgium (6) Luxembourg January 1, 1973 (7) Denmark (8) Ireland (9) United Kingdom (10) Greece (11) Spain (12) Portugal

January 1, 1981 January 1, 1986

2. The Schengen Agreement i. took effect in seven countries: Belgium, Germany, Spain, France, Luxembourg, the Netherlands, and Portugal. ii. Travelers of any nationality can travel between all these countries without any passport control at the frontiers. d. 1997 1. Treaty of Amsterdam i. created a community employment policy ii. reformed the common foreign and security policy (CFSP) iii. extended qualified-majority voting 2. processed membership negotiations with 10 countries of central and eastern Europe: Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. e. 1997-1999

1. Partnership and Cooperation Agreements with Newly Independent States: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Moldovis, Ukraine, and Uzbekistan. f. 1999 1. Euro is introduced in 12 countries for commercial and financial transactions only. Eurozone (founder members), as of January 1,1999 (1) Belgium (2) Germany (3) Greece (4) Spain (5) France (6) Ireland (7) Italy (8) Luxembourg (9) The Netherlands (10) Austria (11) Portugal (12) Finland 2. The Charter of Human Rights was agreed.

F. 2000-2009: Further Expansion a. 2001 1. Greece joined the Eurozone. Date Joined Current States in the Eurozone January 1, 1999 (1) Belgium (2) Germany (3) Greece (4) Spain (5) France (6) Ireland (7) Italy (8) Luxembourg (9) The Netherlands (10) Austria (11) Portugal (12) Finland

Date Joined 2001

New States in the Eurozone (13) Greece

2. The Sderkping Process was launched to promote better cooperation on asylum and migration related issues among the countries situated along the future eastern border of EU. b. 2002 1. In January 1, 2002 Euro notes and coins arrived. Printing, minting, and distributing them in 12 countries was a major logistical operation. More than 80 billion coins were involved. Notes were the same for all countries. Coins had one common face, giving the value, while the other carried a national emblem. All circulated freely. c. 2003 1. Treaty of Nice on EU membership and rights 2. peace-keeping operations in the Balkans 3. EU agreed to create an area of freedom, security, and justice (by 2010) d. 2004 1. Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Slovenia, and Slovakia, Cyprus and Malta joined the EU Date Joined Current EU Member Date Joined New EU Member States States April 18, 1951 (1) Germany May 1, 2004 (16) Czech Republic (2) France (17) Estonia (3) Italy (18) Latvia (4) The Netherlands (19) Lithuania (5) Belgium (20) Hungary (6) Luxembourg (21) Poland (22) Slovenia January 1, 1973 (7) Denmark (23) Slovakia (8) Ireland (24) Cyprus (9) United Kingdom (25) Malta January 1, 1981 January 1, 1986 January 1, 1995 (10) Greece (11) Spain (12) Portugal (13) Austria (14) Finland (15) Sweden

2. division of Europe ended

3. European Constitution - designed to streamline democratic decisionmaking and management in an EU of 25 and more countries. 4. The Hague Programme on freedom, security and justice 5. Kyoto Protocol - EU efforts in reducing the impact of climate change e. 2007 1. Bulgaria and Romania joined EU. Date Joined Current EU Member Date Joined New EU Member States States April 18, 1951 (1) Germany January 1, 2007 (26) Bulgaria (2) France (27) Romania (3) Italy (4) The Netherlands (5) Belgium (6) Luxembourg January 1, 1973 (7) Denmark (8) Ireland (9) United Kingdom (10) Greece (11) Spain (12) Portugal (13) Austria (14) Finland (15) Sweden (16) Czech Republic (17) Estonia (18) Latvia (19) (20) (21) (22) (23) (24) (25) Lithuania Hungary Poland Slovenia Slovakia Cyprus Malta

January 1, 1981 January 1, 1986 January 1, 1995

January 1, 1995

May 1, 2004

2. Treaty of Lisbon amended the previous Treaties f. 2008 1. Cyprus and Malta joined the Eurozone.

Date Joined January 1, 1999

Current States in the Eurozone (1) Belgium (2) Germany (3) Greece (4) Spain (5) France (6) Ireland (7) Italy (8) Luxembourg (9) The Netherlands (10) Austria (11) Portugal (12) Finland (13) Greece

Date Joined 2008

New States in the Eurozone (14) Cyprus (15) Malta

2001

2. European Pact on Immigration and Asylum. 3. A major financial crisis hit the world economy. Several European banks experienced difficulties. The crisis led to closer economic cooperation between EU countries. g. 2009 1. Herman Van Rompuy President of the European Council 2. Catherine Ashton High Representative for Foreign Affairs and Security Policy 3. Slovakia joined the Eurozone. Date Joined Current States in Date Joined New States in the Eurozone the Eurozone January 1, 1999 (1) Belgium 2009 (16) Slovakia (2) Germany (3) Greece (4) Spain (5) France (6) Ireland (7) Italy (8) Luxembourg (9) The Netherlands (10) Austria (11) Portugal (12) Finland 2001 (13) Greece

2008

(14) Cyprus (15) Malta

h. 2010 1. Eurozone crisis 2. Fiscal sustainability of the economies of the PIIGS countries (Portugal, Ireland, Italy, Greece and Spain) i. eurozone fund was set up to assist members in difficulty ii. Loans are provided to Greece and Ireland iii. signs of contagion of market fears by the governments of other eurozone countries iv. launch of the European Financial Stability Facility 2. Estonia joined the Eurozone. Date Joined Current States in Date Joined New States in the Eurozone the Eurozone January 1, 1999 (1) Belgium 2010 (16) Estonia (2) Germany (3) Greece (4) Spain (5) France (6) Ireland (7) Italy (8) Luxembourg (9) The Netherlands (10) Austria (11) Portugal (12) Finland 2001 2008 2009 (13) Greece (14) Cyprus (15) Malta (16) Slovakia

G. A Decade of Opportunities and Challenges a. 2011 1. EU and Ukraine agreed on the final wording of a free trade and political association treaty 2. European Central Bank offered to lend unlimited amounts to eurozone banks at an interest rate of 1% b. 2012 1. 25 out of the 27 EU governments (excluding Britain and Czech Republic) signed the Fiscal Compact (Treaty on Stability, Coordination and Governance in the Economic and Monetary Union) 2. EU Commission proposed new European Central Bank powers for banking supervision as part of a banking union. SOURCES: http://europa.eu/about-eu/eu-history/2000-2009/index_en.htm http://en.citizendium.org/wiki/European_Union/Timelines