european union what is the european union? economic union of 25 european countries n.htm

European Union

What is the European Union?

• Economic union of 25 European countries

• http://www.europa.eu.int/abc/maps/index_en.htm

Map courtesy of Europa Online: http://www.europa.eu.int/abc/eu_members/index_en.htm

History

• 1951 European Coal and Steel Community

• 1957 Treaty of Rome – established the European Economic Community (EEC)– Called for creation of common market among

six member states

• 1986 Single European Act – set the creation of single market

• 1993 European Union (Maastricht Treaty)– Created the three pillars of the EU

• Economic, social and environmental

• Foreign policy and military matters

• Justice and home affairs (crime)

• July 2003 – Constitution drafted which would replace existing agreements

Organization

• European Parliament • Commission – initiates legislation• Court of Justice –ensures compliance with law• Court of Auditors –audits accounts• Economic and Social Committee• Committee of the Regions • European Central Bank• European Investment Bank

Symbols of the EUNational Anthem

Music from the last movement of Ludwig van Beethoven's Ninth Symphony Musical

•Arrangement: Herbert von Karajan•Recorded at Teatro da Trindade - Lisboa - 1994 •Orchestre d'Harmonie des Jeunes de l'Union Européenne, conducted by André Reichling.

Europe Day

• May 9

• Commemorating the declaration by Robert Schuman in 1950 which is regarded as marking the creation of the European Union.

Eu Jargon

• Brussels has decided…

• Copenhagen criteria

• Eurosceptic

Money

Euro coins and banknotes will be used throughout the world

• Euro coins

• One side will show one of three common designs involving a map of Europe nad the

twelve starts

• Other side will have a country specific design with the 12 stars around it

Euro Notes

On 1 January 2002, seven banknotes were introduced in 12 Member States of the European Union.

History of the Euro

• 1999 exchange rates were set among eleven participating countries

• Fixed exchange rates were set

• Euro became the official currency on paper, and other currencies were considered subdivisions of the Euro

• Greece joined on 1 January 2001

• 12 Member States of the European Union are participating in the common currency.

Belgium Finland

Germany Greece

Spain France

Ireland Italy

Luxembourg The Netherlands

Austria Portugal

Denmark, Sweden and the United Kingdom are members of the European Union but are not currently participating in the single currency. Denmark is a member of the Exchange Rate Mechanism II (ERM II) which means that the Danish krone is linked to the euro, although the exchange rate is not fixed.

For more information….

• Europa Online

Cairns Group

Asia-Pacific Economic Cooperation Forum (APEC)

North American Free Trade Agreement (NAFTA)

U.S. Trade Agreements

• http://www.ustr.gov/Trade_Agreements/Section_Index.html