Popular
What is the Wassenaar Arrangement?
Recognizing Gaslighting
What is China’s ‘Wolf Warrior’ Diplomacy?
Latest on Tunisia and Arab Spring
What are VPNs, and why are they in the news always?
Few terms coming up in focus to understand the troubled global economy
U.S. Fed interest rate hike and its impact on India
Dispute between Armenia and Azerbaijan – The past and the present 
Why are special drawing rights (SDR) in the news always?
The world faces a growing stagflationary storm
Politics Science News
  • Home
  • Topics
    • Economics Environment Global Reports/Agreements In pictures Intl. Organisations Personalities Politics Science & Tech Theory / Facts World World History All
      Economics

      Few terms coming up in focus to understand…

      29th July 2022

      Economics

      Why are special drawing rights (SDR) in the…

      23rd May 2022

      Economics

      The world faces a growing stagflationary storm

      5th May 2022

      Economics

      What is and Why De-Dollarisation?

      22nd April 2022

      Economics

      Explained – The U.S. Federal Reserve to increase…

      8th February 2022

      Economics

      All you need to know about the Natural…

      24th January 2022

      Economics

      The Truth about “Tax the Rich”

      27th December 2021

      Economics

      Venezuela Crisis

      2nd October 2021

      Environment

      World Air Quality Report 

      28th March 2022

      Environment

      Why should we be worried about topsoil erosion?

      21st March 2022

      Environment

      Effects of Climate Change

      30th July 2021

      Environment

      Implications of a Tragic Love Story – Coral…

      4th June 2021

      Global Reports/Agreements

      IPCC Report 2022

      8th March 2022

      Global Reports/Agreements

      The Climate Change Negotiations – UNFCCC and Paris…

      3rd August 2021

      Global Reports/Agreements

      Understanding World Happiness Report

      15th April 2021

      In pictures

      World War 2 Summary (1939 to 1945)

      9th July 2020

      In pictures

      World War I – 1914-1918

      30th June 2020

      Intl. Organisations

      What is the Wassenaar Arrangement?

      5th January 2023

      Intl. Organisations

      International Energy Agency (IEA)

      15th April 2022

      Intl. Organisations

      Food and Agriculture Organization (FAO)

      12th April 2022

      Intl. Organisations

      United Nations Human Rights Council (UNHRC)

      10th April 2022

      Intl. Organisations

      What is the G20 Summit?

      31st October 2021

      Intl. Organisations

      What is QUAD? | Quadrilateral Security Dialogue

      10th October 2021

      Intl. Organisations

      SCO – What is Shanghai Cooperation Organisation?

      28th September 2021

      Intl. Organisations

      G7 GROUP

      24th September 2021

      Personalities

      Gramsci Prison Notebooks

      18th November 2021

      Personalities

      John Stuart Mill: Theories

      10th September 2021

      Personalities

      Understanding Rousseau, Jean-Jacques

      4th July 2021

      Personalities

      John Locke – Father of Liberalism

      14th June 2021

      Personalities

      Hobbes Leviathan – Political Philosophy of Hobbes

      22nd May 2021

      Personalities

      Chanakya Strategies in administration

      30th March 2021

      Personalities

      Who was Machiavelli? – The Prince Summary and…

      3rd March 2021

      Personalities

      Aristotle – A Greek Philosopher

      25th January 2021

      Politics

      What is China’s ‘Wolf Warrior’ Diplomacy?

      21st October 2022

      Politics

      Latest on Tunisia and Arab Spring

      18th August 2022

      Politics

      Dispute between Armenia and Azerbaijan – The past…

      27th May 2022

      Politics

      Sudan’s Nightmare: The Conflict Explained

      9th January 2022

      Politics

      What’s happening between Ukraine and Russia?

      12th December 2021

      Politics

      China Taiwan Conflict

      7th October 2021

      Politics

      Taliban taking over Afghanistan

      18th August 2021

      Politics

      Armenian Genocide – What Happened?

      24th April 2021

      Science & Tech

      What are VPNs, and why are they in…

      29th July 2022

      Science & Tech

      Does Splinternet mean the end of the Internet?

      6th April 2022

      Science & Tech

      What you must know about the world’s first…

      2nd January 2022

      Science & Tech

      Omicron: Everything you need to know about COVID-19…

      5th December 2021

      Science & Tech

      Dopamine Happy Hormone

      14th August 2021

      Science & Tech

      How to avoid trans fat?

      7th August 2021

      Science & Tech

      Mental Health during the COVID19 pandemic 

      27th June 2021

      Science & Tech

      CRISPR Nobel Prize 2020 – What is it…

      27th December 2020

      Theory / Facts

      What is Fascism?

      21st July 2021

      Theory / Facts

      Banality of Evil

      14th July 2021

      Theory / Facts

      Evolution of Western Political Thought

      19th December 2020

      Theory / Facts

      What is Game Theory in Politics?

      10th December 2020

      Theory / Facts

      Demarcation of Powers and Responsibilities

      13th September 2019

      Theory / Facts

      Realist vs Idealist

      2nd September 2019

      World

      The Truth about Chernobyl Nuclear Disaster

      28th February 2022

      World

      Djokovic Visa Controversy – More Than What Meets…

      17th January 2022

      World

      Happiest Countries in the World – Top 10

      5th April 2021

      World

      5 Women making history in 2021 – Women…

      21st March 2021

      World

      Five demonstrations that changed history

      5th February 2021

      World

      Myanmar Story

      2nd February 2021

      World

      India and Global Nuclear Order

      31st January 2021

      World

      Nuclear Proliferation

      30th January 2021

      World History

      Israel Palestine Conflict

      11th May 2021

      World History

      What is Cold War? – Cold War Summary

      11th February 2021

      World History

      Russian Revolution

      10th January 2021

      World History

      The Soviet Union Collapse and End of Cold…

      30th December 2020

      World History

      French Revolution – What happened?

      3rd December 2020

      World History

      American Revolution Summary

      28th November 2020

      World History

      South Korea vs North Korea

      12th September 2020

      World History

      World War 2 Summary (1939 to 1945)

      9th July 2020

      Topics

      What is the Wassenaar Arrangement?

      5th January 2023

      Topics

      What is China’s ‘Wolf Warrior’ Diplomacy?

      21st October 2022

      Topics

      Latest on Tunisia and Arab Spring

      18th August 2022

      Topics

      What are VPNs, and why are they in…

      29th July 2022

      Topics

      Few terms coming up in focus to understand…

      29th July 2022

      Topics

      Dispute between Armenia and Azerbaijan – The past…

      27th May 2022

      Topics

      Why are special drawing rights (SDR) in the…

      23rd May 2022

      Topics

      The world faces a growing stagflationary storm

      5th May 2022

  • NewsFeed
  • Miscellaneous
  • Videos
  • Archives
Intl. Organisations

European Union

by Admin 20th October 2019
20th October 2019
925

European Union (EU) is a political union as well as an economic union. All European Union members are autonomous states. Not only does it has its own currency, but it also has its own flag, anthem, as well as all its member states, follow a common foreign policy with respect to other nations. It was formed in 1957 with six nations (Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands). Today it consists of 28 countries out of which 19 countries form Eurozone.

European Union is composed of 19 EU member states which use the common euro currency (Eurozone). But the UK continued with its currency, Pound and was not part of the border-free Schengen zone that allowed passport-free travel in EU. 

UK (United Kingdom) consists of four counties – England, Scotland, Wales and Northern Ireland. Brexit can have an impact on the UK in a fundamental way. According to some analysts, there could be a danger that it won’t stay “United” for too long. 

European Union establishes a procedure under Article 50 of the Treaty of Lisbon as per which a member state can withdraw from the union. (Article 50 of the Treaty of Lisbon provides for a procedure for member countries to exit from the European Union. For any country to withdraw from the European Union, it has to negotiate a deal with EU.)

Exceptions

Norway, though not a member of the European Union, in order to gain favourable access to the European market, has agreed to abide by the number of its rules. Norway, Iceland and Liechtenstein are members of the EEC (European Economic Area). They stay out of the European Union but has access to the single market. They contribute to the EU budget. The fourth country is Switzerland i.e through bilateral treaties it has similar ties. 

To become its member, a nation needs to follow Copenhagen criteria, according to which it should have functioning market economy, acceptance of EU law, a stable democracy respecting human rights as well as rule of law which states that every action taken by the EU is as per the treaties that have been approved by all the EU member states. It is the responsibility of the European Council that countries in the union are fulfilling these criteria. 

FACTS

The seven principal decision-making bodies—called institutions of the European Union—are: 

  • the European Council, (defines political direction; no legislative function)
  • the Council of the European Union, 
  • the European Parliament, (elected directly by EU citizens every 5 years)
  • the European Commission, (proposes new laws)
  • the Court of Justice of the European Union, 
  • the European Central Bank, and 
  • the European Court of Auditors (Financial management of EU)

The Maastricht Treaty established the European Union in 1993 and created a single European currency Euro. The Maastricht Treaty has been amended by the treaties of Amsterdam, Nice and Lisbon (2009). These treaties lay down the objectives of the EU and are amended each time a state joins the union. They are also amended to reform the institutions of the Union from time to time.

The EU also maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7, and the G-20.


The EU countries are Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus,
Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary,
Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal,
Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

In many ways, the European Union is a remarkable achievement of political and economic integration. It has enjoyed a strong voice in the international arena. But at the same time, it has faced its share of challenges. EU started with six nations and now is a supranational organisation consisting of 28 nations. It is governed by various institutions and their agencies. As its members are independent nations with their internal political arrangements, there is a need to reach consensus before taking important decisions which is a task in itself.

Secondly,the rationale behind its creation was security concerns. But now as there is no major external danger, European leaders focus more on their internal problems.

Thirdly,the European Union economic crisis (Eurozone crisis) has created a divide between northern creditor countries and southern debtors countries. For example Germany, an influential creditor is accused of inflexibility; Greece on the other hand for failing to implement the reforms.

Next challenge it is facing is the UK withdrawal and the deal that will be signed and its long term effects. The fifth is the refugee crisis due to state failures in Syria, Yemen and Libya and the emergence of extremists movements like Islamic State. Because of the dysfunctional decision-making process, it becomes difficult for the EU to agree on new measures.

What is the Future of Europe?

First, Europe can find some creative new ways to come out of these challenges. Strong leadership of the future can help build up the institutions to support the Euro. It can adopt reforms to produce robust economic growth and can come out with a strategy to assimilate immigrant populations effectively.

Second, which is a more likely outcome, EU global influence is likely to erode. It can though depend upon trade deals with the United States and China for stronger economic growth but is likely to muddle through other problems like that of immigrants etc. Third, there is a possibility that in future Europe can think to break apart. Future definitely looks uncertain. With Brexit, it is all too early to write off any future progress completely. Only time will tell how the future will look like. 

previous post
Slow Down In Indian Economy
next post
World War I – 1914-1918

Related Articles

What is the Wassenaar Arrangement?

5th January 2023

International Energy Agency (IEA)

15th April 2022

Food and Agriculture Organization (FAO)

12th April 2022

United Nations Human Rights Council (UNHRC)

10th April 2022

What is the G20 Summit?

31st October 2021

What is QUAD? | Quadrilateral Security Dialogue

10th October 2021

SCO – What is Shanghai Cooperation Organisation?

28th September 2021

G7 GROUP

24th September 2021

What is BRICS?

20th September 2021

NATO – North Atlantic Treaty Organization

18th April 2021

1 comment

Priya 25th November 2019 - 9:41 am

Great Article..well explained

Comments are closed.

Recent Posts

  • What is the Wassenaar Arrangement?

    5th January 2023
  • Recognizing Gaslighting

    10th December 2022
  • What is China’s ‘Wolf Warrior’ Diplomacy?

    21st October 2022
  • Latest on Tunisia and Arab Spring

    18th August 2022
  • What are VPNs, and why are they in the news always?

    29th July 2022

Subscribe Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

NewsFeed

  • Elon Musk – Twitter will open source all code used to recommend tweets on March 31st

    19th March 2023
  • WHO’s Global Report on how much sodium is healthy for you

    15th March 2023
  • What is CAR T-cell therapy for cancer treatment?

    11th March 2023
  • The United Nations countries recently agreed to the High Seas Treaty after more than a decade of talks

    7th March 2023
  • Proton beam therapy is used to successfully treat a 62-year-old woman with a rare brain tumor

    3rd March 2023
  • What are neutrinos?

    1st March 2023
  • Russia suspends the “New START”: Nuclear arms control treaty with the US  

    25th February 2023
  • Muons can go through China’s ancient Xi’an Fortress Wall

    21st February 2023
  • WMO report on rising sea levels around the world and what it means

    18th February 2023
  • Astronomers are trying to understand these observations: a potentially habitable mass planet, “prominence” on the sun, and a ring around dwarf planet Quaoar

    13th February 2023

Article Archives

Editor’s Picks

  • International Organisations List

    7th October 2020

Social Counter

facebook Like
instagram Follow Us

Popular Posts

  • 1

    World Economic Forum (WEF)

    27th January 2021
  • 2

    China Taiwan Conflict

    7th October 2021
  • 3

    European Union

    20th October 2019
  • 4

    Sunni and Shia Differences and ISIS Conflict

    1st October 2019
  • 5

    Armenia-Azerbaijan Conflict

    9th October 2020

Posts Slider

What is the Wassenaar Arrangement?

5th January 2023

Recognizing Gaslighting

10th December 2022

What is China’s ‘Wolf Warrior’ Diplomacy?

21st October 2022

Latest on Tunisia and Arab Spring

18th August 2022

What are VPNs, and why are they in...

29th July 2022

Few terms coming up in focus to understand...

29th July 2022

U.S. Fed interest rate hike and its impact...

17th June 2022

Dispute between Armenia and Azerbaijan – The past...

27th May 2022

Why are special drawing rights (SDR) in the...

23rd May 2022

The world faces a growing stagflationary storm

5th May 2022

What is and Why De-Dollarisation?

22nd April 2022

International Energy Agency (IEA)

15th April 2022

Food and Agriculture Organization (FAO)

12th April 2022

United Nations Human Rights Council (UNHRC)

10th April 2022

Does Splinternet mean the end of the Internet?

6th April 2022

Quote

"unexamined life is not worth living" - SOCRATES

"law is a reason free from passions"- ARISTOTLE

"he who wishes to be obeyed must know how to command"- MACHIAVELLI

"be kind, for everyone you meet is fighting a hard battle"- PLATO

"prepare for the worst; expect the best; and take what comes"- HANNAH ARENDT

"he who knows only his own side of the case knows little of that"- J S MILL

  • Facebook
  • Instagram
  • Youtube
  • Topics
  • NEWSFEED
  • Videos
  • Miscellaneous
  • Contact
  • Privacy Policy

@2022 All Right Reserved

Politics Science News
  • Home
  • Topics
    • Economics Environment Global Reports/Agreements In pictures Intl. Organisations Personalities Politics Science & Tech Theory / Facts World World History All
      Economics

      Few terms coming up in focus to understand…

      29th July 2022

      Economics

      Why are special drawing rights (SDR) in the…

      23rd May 2022

      Economics

      The world faces a growing stagflationary storm

      5th May 2022

      Economics

      What is and Why De-Dollarisation?

      22nd April 2022

      Economics

      Explained – The U.S. Federal Reserve to increase…

      8th February 2022

      Economics

      All you need to know about the Natural…

      24th January 2022

      Economics

      The Truth about “Tax the Rich”

      27th December 2021

      Economics

      Venezuela Crisis

      2nd October 2021

      Environment

      World Air Quality Report 

      28th March 2022

      Environment

      Why should we be worried about topsoil erosion?

      21st March 2022

      Environment

      Effects of Climate Change

      30th July 2021

      Environment

      Implications of a Tragic Love Story – Coral…

      4th June 2021

      Global Reports/Agreements

      IPCC Report 2022

      8th March 2022

      Global Reports/Agreements

      The Climate Change Negotiations – UNFCCC and Paris…

      3rd August 2021

      Global Reports/Agreements

      Understanding World Happiness Report

      15th April 2021

      In pictures

      World War 2 Summary (1939 to 1945)

      9th July 2020

      In pictures

      World War I – 1914-1918

      30th June 2020

      Intl. Organisations

      What is the Wassenaar Arrangement?

      5th January 2023

      Intl. Organisations

      International Energy Agency (IEA)

      15th April 2022

      Intl. Organisations

      Food and Agriculture Organization (FAO)

      12th April 2022

      Intl. Organisations

      United Nations Human Rights Council (UNHRC)

      10th April 2022

      Intl. Organisations

      What is the G20 Summit?

      31st October 2021

      Intl. Organisations

      What is QUAD? | Quadrilateral Security Dialogue

      10th October 2021

      Intl. Organisations

      SCO – What is Shanghai Cooperation Organisation?

      28th September 2021

      Intl. Organisations

      G7 GROUP

      24th September 2021

      Personalities

      Gramsci Prison Notebooks

      18th November 2021

      Personalities

      John Stuart Mill: Theories

      10th September 2021

      Personalities

      Understanding Rousseau, Jean-Jacques

      4th July 2021

      Personalities

      John Locke – Father of Liberalism

      14th June 2021

      Personalities

      Hobbes Leviathan – Political Philosophy of Hobbes

      22nd May 2021

      Personalities

      Chanakya Strategies in administration

      30th March 2021

      Personalities

      Who was Machiavelli? – The Prince Summary and…

      3rd March 2021

      Personalities

      Aristotle – A Greek Philosopher

      25th January 2021

      Politics

      What is China’s ‘Wolf Warrior’ Diplomacy?

      21st October 2022

      Politics

      Latest on Tunisia and Arab Spring

      18th August 2022

      Politics

      Dispute between Armenia and Azerbaijan – The past…

      27th May 2022

      Politics

      Sudan’s Nightmare: The Conflict Explained

      9th January 2022

      Politics

      What’s happening between Ukraine and Russia?

      12th December 2021

      Politics

      China Taiwan Conflict

      7th October 2021

      Politics

      Taliban taking over Afghanistan

      18th August 2021

      Politics

      Armenian Genocide – What Happened?

      24th April 2021

      Science & Tech

      What are VPNs, and why are they in…

      29th July 2022

      Science & Tech

      Does Splinternet mean the end of the Internet?

      6th April 2022

      Science & Tech

      What you must know about the world’s first…

      2nd January 2022

      Science & Tech

      Omicron: Everything you need to know about COVID-19…

      5th December 2021

      Science & Tech

      Dopamine Happy Hormone

      14th August 2021

      Science & Tech

      How to avoid trans fat?

      7th August 2021

      Science & Tech

      Mental Health during the COVID19 pandemic 

      27th June 2021

      Science & Tech

      CRISPR Nobel Prize 2020 – What is it…

      27th December 2020

      Theory / Facts

      What is Fascism?

      21st July 2021

      Theory / Facts

      Banality of Evil

      14th July 2021

      Theory / Facts

      Evolution of Western Political Thought

      19th December 2020

      Theory / Facts

      What is Game Theory in Politics?

      10th December 2020

      Theory / Facts

      Demarcation of Powers and Responsibilities

      13th September 2019

      Theory / Facts

      Realist vs Idealist

      2nd September 2019

      World

      The Truth about Chernobyl Nuclear Disaster

      28th February 2022

      World

      Djokovic Visa Controversy – More Than What Meets…

      17th January 2022

      World

      Happiest Countries in the World – Top 10

      5th April 2021

      World

      5 Women making history in 2021 – Women…

      21st March 2021

      World

      Five demonstrations that changed history

      5th February 2021

      World

      Myanmar Story

      2nd February 2021

      World

      India and Global Nuclear Order

      31st January 2021

      World

      Nuclear Proliferation

      30th January 2021

      World History

      Israel Palestine Conflict

      11th May 2021

      World History

      What is Cold War? – Cold War Summary

      11th February 2021

      World History

      Russian Revolution

      10th January 2021

      World History

      The Soviet Union Collapse and End of Cold…

      30th December 2020

      World History

      French Revolution – What happened?

      3rd December 2020

      World History

      American Revolution Summary

      28th November 2020

      World History

      South Korea vs North Korea

      12th September 2020

      World History

      World War 2 Summary (1939 to 1945)

      9th July 2020

      Topics

      What is the Wassenaar Arrangement?

      5th January 2023

      Topics

      What is China’s ‘Wolf Warrior’ Diplomacy?

      21st October 2022

      Topics

      Latest on Tunisia and Arab Spring

      18th August 2022

      Topics

      What are VPNs, and why are they in…

      29th July 2022

      Topics

      Few terms coming up in focus to understand…

      29th July 2022

      Topics

      Dispute between Armenia and Azerbaijan – The past…

      27th May 2022

      Topics

      Why are special drawing rights (SDR) in the…

      23rd May 2022

      Topics

      The world faces a growing stagflationary storm

      5th May 2022

  • NewsFeed
  • Miscellaneous
  • Videos
  • Archives