Summary of European Affairs issues

Summary of European Affairs issues

  • Submitted By: hamza904
  • Date Submitted: 09/14/2016 9:39 AM
  • Category: Business
  • Words: 9307
  • Page: 38

Chapter 2 – origins development and institutional framework p. 38 - 49

Why focus first on the European Union:
1. Because the EU is growing and the impact that is had on business is significant and growing given the organization’s impact on trade, investment, regulations and international affairs.
2. It will help understand the five main EU bodies:
1. Commission
2. Council of ministers
3. European council
4. Parliament
5. Court of justice
Since interaction between business and these bodies are becoming increasingly frequent. Manager who are familiar with how the EU works will be beter placed to make good decisions.

The EU in 2014
1. 28 members
2. Structure = 5 bodies
Commission = proposed laws, regulations, policies
Council of ministers and European council = main decision making body
Court of justice
3. Police areas  Trade, competition, monetary, agriculture, environment, transportation, R&D, immigration, foreign, defense.

History and development of the EU
1. The early years 1945 – 1970

The EU was/is created after ww2 to reduce the likelihood of yet another continental war

1945-world war 2 ends
1947- Marshall plan program announced by the US 13 billion in aid for European development 1948 – 1951
1951- First major step! The European Coal and Steel Community (ECSC). Created by Belgium, France, Italy, Luxembourg, the Netherlands and Germany (6)
To eliminate customs duties on iron, coals and steel traded amongst these countries. And to establish a common external tariff for the import of non-members. The ESCS was also formed with political objectives in mind. The ECSC was seen as the first step toward European political integration. By elimination the barriers to the earlier mentioned sources countries would build a level of mutual trust and cooperation.
1957- Created by the treaty of Rome, the European Economic Community (EEC) was created. It created a common market elimination virtually all goods and services....

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