Supranational Organizations Key Terms

supranational organizations

organizations of countries where the have a common goal above independent sovereignty. Multinational unions or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members. State share in decision making on matter that will affect each countries citizens.

United Nations

international organization devoted to promoting peace, established after WWII, HQ in New York City, created by a multilateral treaty in 1945 to promote social and economic operation among nations and to protect human rights

WTO

A powerful supranational financial institution that sets trade and tariff agreements for over 150 member countries and so helps manage a large percentage of the world’s import-export policies. Like IMF and the World Bank, the WTO promotes neoliberal policies around the world.

UN General Assembly

large body with representatives from all independent countries in UN that meets in NY to forge international agreements and crisis.

UN Security Council

broad powers including ability to impose sanctions to punish uncooperative states and even endorse military action US, Russia, France, GB, and China permanent members can all veto resolutions introduced into that body.

World Bank

specialized agency of the UN that makes loans to countries for economic development, trade promotion, and debt consolidation. Its formal name is the international bank for reconstruction and development. Established after WWII, funded by US and other Western European countries to developing countries.

IMF

International monetary fund, created in the US at the Bretton Woods conference in 1944 to secure international monetary cooperation, to stabilize currency exchange rates and to expand international liquidity (access to hard currencies), established after WWII to help rebuild war torn Europe and help developing world.

NGOs

nongovernmental organizations, independent organizations with specific agendas such as humanitarian aid and environmental protection that conducted international programs, typically non-profit entities, many active in humanitarianism or social sciences, influential in international initiatives on social, economic, and environmental issues, ex Doctors with Borders, Greenpeace

Treaty of Rome

1957, signed by six countries of the Coal and Steel community (West Germany, Italy Benelux (Belgium, Netherlands, Luxembourg) and France), created the European Economic Community (EEC) aka Common Market. Goals were to gradually reduce tariffs among the six to make a single market, free movement of capital labor and common economic policies and institutions.

Common Market

The European Economic Community, created by six western and central European countries in the West Bloc in 1957 as a part of a larger search for European unity, same thing as the EEC (European Economic Community)

European Union (EU)

The economic, cultural, and political alliance of 28 European Nations characterized by shared currency, free trade, and free movement cross borders. Created to promote peace and security as well as development. Contains countries from Western and Easter Europe.

Maastricht Treaty

The basis for the formation of the European Union. Which set financial and cultural standards for potential member states and defined criteria for membership in the monetary union.