Writing/Thinking International Buissnes law

Ch15Glossary

European Union

Mostly names of regional trade areas and I will skip that part of chapter so remove the terms

1. Charter of Fundamental Rights: an agreement that legally binds member states to the provisions that were set forth in the Treaty of Lisbon

2. College of Commissioners: a political body that is comprised of the European Commission head and one member that appointed by each member state, each of whom is theoretically obligated to represent the interests of the EU as a whole rather than the interest of their home state

3. Common Agricultural Policy: a policy that was first implemented in 1962, central to the EU’s mission, and with the goals of 1) increasing agricultural productivity; 2) ensuring a fair standard of living for the agricultural community; 3) stabilizing markets; 4) guaranteeing regular supplies; 5) ensuring reasonable prices to consumers common market an economic alliance among countries that facilitates trade and that protects the right of all enterprises and persons located within each member country to do business, invest capital, and sell their services anywhere within the member countries without discrimination on the basis of national origin

4. Council of Europe: an institution that comprises all the EU members plus a number of other countries, including Switzerland

5. Council of Ministers of the European Union: a council that is composed of one representative from each member state and is located in Brussels, Belgium, the effective “capital” of the EU

6. Court of Justice of the European Union: the court located in Luxembourg that functions as the final arbiter of EU law

7. customs union: an economic alliance in which there is free trade of all goods (including imports) that come through any of the union members

8. Directorates-General: the specialized areas of interest of the European Commission

9. economic community a common market

10. EU directive: a type of statute whose application varies by the results that will be achieved in each EU member state but whose implementation depends on the decisions of the national authorities

11. EU regulation: a type of statute that is generally applied, binding in its entirety, and directly applicable in all EU member states

12. European Atomic Energy Community: an agreement that was established on the same day as the European Community by a second, separate Treaty of Rome and that focused primarily on creating a market for and distributing atomic energy throughout the European states

13. European Central Bank: the institution that administers the monetary system of the EU eurozone member states and whose mission includes the promotion of price stability, the issuance of notes, and the promotion of the smooth operation of payment systems

14. European Coal and Steel Community: a six-nation organization that was established in 1951 under the Treaty of Paris which specifically defined the outlines of a common policy, covering combined price and output controls, investment subsidies, tariff protection, and competition rules with respect to coal and steel

15. European Commission: the EU’s executive body that carries out the decisions of the Council of Ministers

16. European Common Market: a regional economic alliance that was initially comprised of six European countries —Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany

17. European Community: the former European Economic Community, established under the 1957 Treaty of Rome.

18. European Council: a full EU institution that resulted from the Treaty of Lisbon and is composed of the heads of state or government from each EU member state and the president of the European Commission

19. European Court of Human Rights: the court of the Council of Europe that hears complaints about violations of the European Convention on Human Rights and the Anti-Torture Convention

20. European Economic Community: another term for the European Common Market

21. European Free Trade Association (EFTA): an association founded in 1960 for the purposes of promoting free trade and closer economic cooperation among Western European countries

22. European Parliament: the only EU governing body whose members are elected by European citizens

23. European Union: the regional economic alliance of twenty-seven member states in Europe that originated from the European Economic Community

24. Four Freedoms: a body of EU law originating with the Treaty of Rome in which the EU committed itself to achieving the free movement of goods, services, capital, and people in the common market

25. free trade area: the area where two or more countries agree to eliminate or phase out customs duties and other barriers to trade among the member countries

26. International Court of Justice: a court of final jurisdiction annexed by statute to the United Nations Charter

27. Members of the European Parliament (MEPs): the body of government that is comprised of elected representatives from each member state, with the total number determined based on each state’s population and capped at 751 members by The Treaty of Lisbon

28. qualified majority voting: the voting system in current use in the EU Council of Ministers where a majority is achieved if (1) a majority of member states (in some cases a two-thirds majority) approve a proposal; (2) member states with a population of at least 62 percent of the total EU population approve it; and (3) a minimum of 255 votes are cast in favor of the proposal, out of a total of 345 votes