Cyprus and the European Union

Historical 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:

  • Regular report from the Commission on Cyprus' progress towards accession 1998
    COM (98) 0710 final, 17 December 1998.

  • Regular report from the Commission on Cyprus' progress towards accession 1999.
    COM (99) 0502 final, 13 October 1999.

  • Regular report from the Commission on Cyprus' progress towards accession 2000.
    COM (2000) 0702 final, 8 November 2000.

  • Regular report from the Commission on Cyprus' progress towards accession 2001.
    SEC (2001) 1745 final, 13 November 2001.

  • Regular report from the Commission on Cyprus' progress towards accession 2002
    SEC (2002) 1401 final, 9 October 2002.

  • Comprehensive monitoring report on Cyprus' preparation for membership 2003
    SEC (2003) 1202 final (COM(2003) 675), 5 November 2003.

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:

  • Cohesion policy and Cyprus (gives summarised details of projects)

    • European Social Fund (ESF) - The purpose of the ESF is to modernise the skills and qualifications of workers. Also, to help disadvantaged groups get the support and training they need for work. This link also provides information on budget, funding and who participates in ESF.

    • European Regional Development Fund (ERDF) - the overall objective of the ERDF is to improve the competitiveness of the country's economy within conditions of sustainable development.

  • EU wide stress testing in Cyprus - Stress testing is a risk management tool. It is a tool used by the European Banking Authority (EBA) to monitor and assess market developments as well as to identify trends, potential risks and vulnerabilities. Thereby, helping the EBA to ensure the orderly functioning and integrity of financial markets and the stability of the financial system in the EU.

Relevant Publications

Further information:

BLOGS

Blogs (Search)

RELATED LINKS

EU Official Journal

EU Legislation Summaries

European Acquis

Official Journal

European Central Bank (ECB)

European Investment Bank (EIB)

European Economic and Social Committee (EESC)

European Committee of the Regions (COR)

RELATED DATA

EU Specialised Databases

EU Open Data Portal

EUROSTAT Statistics

European Central Bank Statistics

Opinion Polls

European Environment Agency (EEA) - data, maps, etc

European Paraliament

KEY SOURCES

Publications Office

EU Archives

Press Corner

EU Media Centre

European Central Library

 

 

Development of the European Union

The 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. 

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:

BLOGS

Blogs (Search)

RELATED LINKS

EU Official Journal

EU Legislation Summaries

European Acquis

Official Journal

European Central Bank (ECB)

European Investment Bank (EIB)

European Economic and Social Committee (EESC)

European Committee of the Regions (COR)

RELATED DATA

EU Specialised Databases

EU Open Data Portal

EUROSTAT Statistics

European Central Bank Statistics

Opinion Polls

European Environment Agency (EEA) - data, maps, etc

European Paraliament

KEY SOURCES

Publications Office

EU Archives

Press Corner

EU Media Centre

European Central Library

 

 

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:

BLOGS

Blogs (Search)

RELATED LINKS

EU Official Journal

EU Legislation Summaries

European Acquis

EU Official Journal

European Central Bank (ECB)

European Investment Bank (EIB)

European Economic and Social Committee (EESC)

European Committee of the Regions (COR)

RELATED DATA

EU Specialised Databases

EU Open Data Portal

EUROSTAT Statistics

European Central Bank Statistics

Opinion Polls

European Environment Agency (EEA) - data, maps, etc

European Paraliament

KEY SOURCES

Publications Office

EU Archives

Press Corner

EU Media Centre

European Central Library

 

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:

Further information:

BLOGS

Blogs (Search)

RELATED LINKS

EU Official Journal

EU Legislation Summaries

European Acquis

EU Official Journal

European Central Bank (ECB)

European Investment Bank (EIB)

European Economic and Social Committee (EESC)

European Committee of the Regions (COR)

RELATED DATA

EU Specialised Databases

EU Open Data Portal

EUROSTAT Statistics

European Central Bank Statistics

Opinion Polls

European Environment Agency (EEA) - data, maps, etc

European Paraliament

KEY SOURCES

Publications Office

EU Archives

Press Corner

EU Media Centre

European Central Library

 

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:

  • The first attempt (1969): Den Haag summit and Werner Report (historical documentation)
  • The second attempt  (1979): The European Monetary System and the ECU (historical documentation)
  • The third attempt   (1989): The Single European Act and the "Delors Report" (historical documentation)
  • The start of EMU and the Euro (1999), which was implemented through 3 stages

 

Further information:

BLOGS

Blogs (Search)

RELATED LINKS

EU Official Journal

EU Legislation Summaries

European Acquis

EU Official Journal

European Central Bank (ECB)

European Investment Bank (EIB)

European Economic and Social Committee (EESC)

European Committee of the Regions (COR)

RELATED DATA

EU Specialised Databases

EU Open Data Portal

EUROSTAT Statistics

European Central Bank Statistics

Opinion Polls

European Environment Agency (EEA) - data, maps, etc

European Paraliament

KEY SOURCES

Publications Office

EU Archives

Press Corner

EU Media Centre

European Central Library