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MAKING DECISIONS IN THE EU & ECONOMIC AND MONETARY ISSUES - Coggle…
MAKING DECISIONS IN THE EU & ECONOMIC AND MONETARY ISSUES
The European Parliament is an important place for political debate and decision-making at EU level.
Its members are chosen directly by the voters of the member states.
Economic and Monetary Union
1st January 1999 eleven EU currencies disappeared and were replaced by the Euro.
1st January 2002 that euro cons from the Euro when traveling around Europe and spending money without having to exchange it.
1994 a European Monetary Institute was created to monitor EU countries
February 1992 The Treaty of Maastricht establishied the stages to acheive monetary union in Europe. This has a huge impact on economic and financial matters.
1998 the European Central Bank based in Frankfurt in order to manage the euro and to control and implement the Union's economic and monetary policy.
The European Union is managed by local nation governments that share common decisions and try to implement common rules in specific fields.
The European Commission has 4 main roles
Enforcing European Law;
Representing the EU on the International stage.
Implementing EU policies and the budget;
Proposing new legislation;
Nowadays, the institutions consist of different sections, commissions and ofices, mainly based in Brussells and Luxembourg.
The major decision are taken of three main institutions:
The Commission
The Council
The Parliament
The Parliament has legislative power which it shares with the Council.
The Parliament meets every month in plenary sessions in Strasbourg.
All products and services in the EU are currently subject to specific standards
Standards are developed by some basic principles such as consensus, trasparency and non-discrimination.
Standards ensure safety, reduce costs and technical barriers in order to facilitate procedures.
Standardisation is a preorogative in order to have a common market. It allows all member states to produce large quantities of food. This is why our superstores are always full of food coming from different parts of Europe.
Production and Growth
Economics issues have always been at the centre of EU policies. Trading in the EU has become easier than in the past because the Union has created new market rules in order to facilitate the exchange of goods and regulate production in each country
The Council shares legislative powers and budget approval with the Parliament.
Is composed of the ministers of the various EU countries, who meet depending on the topic of discussion: food safety, defencd, etc..
Once the Council and the Parliament have approved the new law, the governments of the various countries have to make sure that the new law is implemented and respected.
There are 4 tyoes of legislation:
Directive;
Decision;
Regulation;
Recommendation.
Some of the countries beloging to the EU have not adopted the Euro as a currency yet.