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- EU Resources
- History of the EU
- History - Development of the EU
- History - European Parliament
- History - European Commission
- History - European Monetary Union
- History - Financial Crisis
- EU Policy
- EU Legislation
- EU Statistics
- EU Databases
- EU Repositories and Reference Tools
- Cyprus and the EU
- Other Relevant Sources
History of the Economic and Monetary Union (EMU)The Economic and Monetary Union (EMU) represents a major step in the integration of all member states of the European Union economies. It involves the coordination of economic and fiscal policies, a common monetary policy, and a common currency: the euro. Currently all 28 EU Member States take part in the economic union, while only a select number have adopted the euro. The Member States that have adopted the euro are part of the Euro Area. The initial idea for the EMU was instigated by Gustav Stresemann (German foreign minister). In 1929, Gustav Stresemann asked for a European currency due to the increased economic division, which developed from a number of new nation states in Europe after World War I. There were three political attempts to create the EMU before its success in 1999:
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EU ResourcesThe European Union offers a great variety of information either through its official websites or its publications. This information has been consolidated into the following themes:
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History of the European UnionThis history of the European Union encompasses many areas:
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Development of the European UnionThe development of the European Union was a result of gradual integration of European countries since 1945. The idea of integration was raised by former British Prime Minister Winston Churchill during his speech at Zurich University, Switzerland (19th September 1946). Who, through the recognition of Europe's political, economic and social weakness after World II, stated that the remedy: "...is to recreate the European Family, or as much of it as we can, and to provide it with a structure under which it can dwell in peace, in safety and in freedom. We must build a kind of United States of Europe...." The first step in building the foundation of the European Community was given by the French Foreign Minister Robert Schuman. He, in coorperation with Jean Monnet, drew up the Schuman Plan, which proposed joint control over coal and steel production. Thereby, whoever did not have control over coal and steel production would not be able to fight a war. In 1951 the European Coal and Steel Community (ECSC) treaty was signed in Paris by France, Germany, Italy, the Netherlands, Belgium and Luxembourg. As the European Community is based on the rule of law its policies and enlargements is determined by a number of treaties. January 1st 1973 brought about its first enlargement where the Union was joined by Denmark, Ireland and the United Kingdom. It currently encompasses 28 countries (Member States). To maintain harmony between its Member States, a treaty was developed to provide a basis for a six year programme aimed at tackling the problems with the free-flow of trade across EU borders and so creating the ‘Single Market’. In 1986 the Single European Act is signed. In 1993 the Single Market was completed with the four freedoms of movement: goods, services, people and money. On November 1st 1993 the European Union (EU) was put in force by the Maastricht Treaty, which was sign on February 7th 1992. The Maastricht treaty was a consolidation of amendments of existing treaties, primarily Treaty of Rome and the Single European Act. In 2009 the Lisbon Treaty came into force, changing the way the EU works. Further information:
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History of the European Parliament (EP)The European Parliament was initially known as the Common Assembly of the European Coal and Steel Community (ECSC). The Assembly first met on September 10th 1952 with 78 representatives from the original six Member States (France, Germany, Italy, the Netherlands, Belgium and Luxembourg). At that time the Assembly had no legislative powers; it was used as a place for consultation and discussions. In 1958, the Assembly expanded to 142 members to include representatives from the ECSC and the two newly established communities (European Economic Community (EEC) and the European Atomic Energy Community (Euratom)). The Assembly was also renamed as the ‘European Parliamentary Assembly’. Its name was subsequently, unofficially, changed to European Parliament on 30 March 1962, which was finally sanctioned by the 1987 Single European Act. In 1970, the European Parliament was granted some Community Budget powers, and five years later the Parliament was granted powers over the entire budget through the reformed treaty (the Treaty of Luxembourg and the Treaty of Brussels). In 1979, the first directly elected members took the seats of the parliament, with Simone Veil being the first member to be elected as the President of Parliament. The evolution of the Parliament is closely linked to a succession of treaties culminating in the current Lisbon Treaty (2007). These treaties define the rules and scope of the Union and have turned the ECSC of old into what is now known as the European Union Further information:
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History of the European Commission (EC)The European Commission, based in Brussels, is an extremely important and powerful body that has the right to impose its decisions on member states of the European Union (EU). It has the power to draw up treaties, laws and policies. The idea of the European Commission was initiated in 1950, when the French Foreign Affairs Minister, R. Shuman, proposed the creation of an executive body for the European Steal and Coal Community (ECSC). This body would be known as the High Authority. The foundation for the Treaty of Paris to establish the ECSC was signed in 1951. The ECSC included France, Germany, Italy, the Netherlands, Belgium and Luxembourg. In 1958, these six countries signed the Treaty of Rome to establish two more communities: the European Economic Community and European Atomic Energy Community, to work alongside the ECSC. In 1967, the three communities merged to become collectively known as the European Communities (EC) whose main focus was on cooperation in economic and agricultural affairs. Denmark, Ireland and the UK became full EC members in 1973, Greece joined in 1981, Portugal and Spain in 1986, Austria, Finland and Sweden in 1995. The Treaty on European Union (1992), signed at Maastricht in 1991, formally established the European Union as the successor to the EC. Further amendments to the treaty:
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History of the Economic and Monetary Union (EMU)The Economic and Monetary Union (EMU) represents a major step in the integration of all member states of the European Union economies. It involves the coordination of economic and fiscal policies, a common monetary policy, and a common currency: the euro. Currently all 28 EU Member States take part in the economic union, while only a select number have adopted the euro. The Member States that have adopted the euro are part of the Euro Area. The initial idea for the EMU was instigated by Gustav Stresemann (German foreign minister). In 1929, Gustav Stresemann asked for a European currency due to the increased economic division, which developed from a number of new nation states in Europe after World War I. There were three political attempts to create the EMU before its success in 1999:
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Eurozone Financial CrisisThere are a number of factors that contributed to Europe's debt crisis. One of the initial factors was the heavy losses incurred by many European banks who had invested heavily in the American mortgage market. The losses were triggered by the downturn of the US economy, which caused numerous homeowners to default on their mortgages. Many EU governments provided aid in an attempt to save these European banks but the cost proved to be too high. For instance, in Ireland, it had almost bankrupted the government. This, in turn, caused Europe to slip into recession in 2009 and for investors to closely scrutinise the finances of various EU governments. The threat of bank failures meant that the health of government finances became more important than ever. Further information:
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Policies of the European UnionThe European Union is active in a wide range of areas, therefore, the policies and related information (e.g. legislation) can be found on the individual Directorate General (DG) websites:
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European Union - LegislationAs the European Union evolved over time, so has the process for creating European legislation. For instance European Parliament has steadily become more embedded in the legislative process. In 1986, the Single European Act (1986) and the Maastricht, Amsterdam, Nice and Lisbon Treaties successively extended Parliament's prerogatives.
The European Union implements legislation using two types of legislative procedures:
There are three basic types of EU legislative binding instruments:
These laws (regulations, directives and decisions) take precedence over national law and are binding on national authorities. The EU also issues non-binding instruments, such as recommendations and opinions, as well as rules governing how EU institutions and programmes work, etc.
Key databases:
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European Union - StatisticsThe European Union offers a wealth of information both quantitative and qualitative. It works on the idea that data should be freely available for use and reuse and, therefore, has an Open Data policy. The data is provided through a number of sources: Eurostat Eurostat is the statistical office of the European Union. It was established in 1953 for the European Coal and Steel Community and adopted its name in 1959. Its purpose is to provide the European Union with statistics at European level so comparisons between countries and regions can be made. Thereby rely on theEuropean Statistical System (ESS) to provide comparable statistics at EU level. Eurostat offers various ways to assess the data (both at EU and country level):
Note: all EuroStat information is updated twice a day, at 11:00 and 23:00 Eurostat now provides mobile apps (Available for iPhone, iPad and Android):
Opinion surveys
Open Data Portal Open Data Portal was created to provide ease of access to a growing range of data from the institutions and other bodies of the European Union (EU). EuroStat, European Banking Authority, European Institute for Gender Equality, DG for Competition, European Environment Agency are just a sample of publishers that provide data to the portal (full list of publishers). The datasets are mainly in .tmx (Translation Memory eXchange) format.
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European Union Databases and Tools[WORK IN PROGRESS] The European Union provides a vast amount of information. To make this information easily accessible tools have been developed and some of this information has been consolidated in databases (see below sources identified listed by Directorate General (DG)): Note, all information, policies, legislations relating to these topic areas can also be found on the related Directorate General (DG) websites
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European Union - Repositories and Reference ToolsThe European Union continually strives to ensure information is readily accessible to EU citizens, such as developing repositories and explanation or terminologies: EU Repositories:
EU Reference Tools:
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Cyprus and the European UnionHistorical overview The Republic of Cyprus, a small island country situated in the Eastern Mediterranean sea, joined the European Union on 1st May 2004. Relationships between Cyprus and the European Union began in 1973 with the Associate Agreement between Cyprus and the European Economic Community (EEC). The purpose of this agreement was to consolidate and expand trade, and the economic relations between Cyprus and the European Community. On 3rd July 1990 Cyprus submitted an application to become a member of the EEC. The application was critically assessed and Cyprus was found to satisfy the criteria of membership and suitable in 1993. This was reaffirmed in 1995. The accession of Cyprus, also, required harmonisation between Cypriot and European law, known as Acquis screening. This process was designed to determine the areas where necessary changes in Cypriot law needed to be made in order to harmonise it with EU legislation. This screening process was concluded in 2000 and implementation of these changes began and were assessed on a regular basis. The first Regular Report to the European Commission was submitted November 1998. Regular Reports and preparation for membership:
For an in-depth overview and details of further negotiations, go to: Embassy of the Republic of Cyprus - A Historical Overview
EU supporting Cypriot economic recovery Cyprus adopted the Euro on 1st January 2008. Since then the Cypriot economy has been erratic. In 2009 the Cypriot economy went into recession, which was mainly due to the large drop in the shipping and tourism sectors. Economic growth between 2010 and 2012 was weak and insufficient to counteract the 2009 recession. Property values had declined and there was an increase in non-performing loans. This combination of economic downfalls lead to the Cypriot financial crisis in 2012. In an attempt to address this problem the EU provided a number of investments to help boost the economy:
Relevant Publications
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Other Relevant SourcesThe following are external information relating to Europe:
Other Related Documents
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