European Union Overview

Flashcards summarizing key concepts, terms, and definitions related to the European Union as covered in lecture notes.

European Union (EU)

A trading bloc consisting of 27 member states that serve as an economic and political union.

Single Market

A key objective of the EU aimed at allowing free trade in goods, services, labor, and capital among member states.

European Commission

The executive body of the EU responsible for proposing laws, implementing legislation, and managing the EU budget.

Member of European Parliament (MEP)

Elected representatives in the European Parliament who represent citizens of the EU member states.

Council of Ministers

The primary decision-making body of the EU, consisting of ministers from each member state.

Court of Justice

The court that ensures EU law is observed in member states and resolves disputes among EU institutions.

Court of Auditors

Responsible for managing the EU finances and ensuring that expenditures are lawful and properly accounted for.

European Central Bank (ECB)

The institution responsible for managing the euro and implementing EU monetary policy.

Common Agricultural Policy (CAP)

An EU policy focused on ensuring self-sufficiency in agricultural produce and reasonable incomes for farmers.

Common Fisheries Policy (CFP)

An EU framework designed to manage fish stocks and regulate fishing practices across member states.

Competition Policy

EU regulations aimed at maintaining free and fair competition among businesses within the EU.

European Social Charter

A commitment by EU states to improve the social and working conditions of their citizens.

Economic and Monetary Union (EMU)

The integration of EU member states through a common currency and coordinated monetary policies.

Single European Market (SEM)

An integrated market within the EU enabling the free movement of goods, services, labor, and capital.

Legislative Process in the EU

The multi-stage process involving proposal, debate, approval, implementation, and interpretation of laws.

Regulation

An EU law that is immediately enforceable in all member countries, taking precedence over national laws.

Directive

An EU law that requires member states to implement it within a specific timeframe, allowing national flexibility.

Decision

An EU law directed at specific individuals, businesses, or member states, which must be implemented.

Interest Groups

Pressure groups that advocate on behalf of specific interests within the EU system to influence policy.