European Monetary Union and Economic Policies

The European Parliament's seat for plenary sessions, also home to the Council of Europe and the European Court of Human Rights.

The city where the European Parliament holds committee sessions, most offices, and also the headquarters of the European Commission.

The current President of the European Parliament, elected in 2022 after the passing of Davide Sassoli.

A body formed to unite Europe after World War II, headquartered in Strasbourg and known for its role in promoting human rights and the annual Eurovision Song Contest.

The body of the EU that brings together heads of state or government to discuss and decide on the EU's overall political direction and priorities.

The body of the EU that represents governments of member states and coordinates their actions, with the aim of ensuring that national interests are taken into account in EU decision-making.

The EU's main law-making body, comprising elected representatives from all EU member states, responsible for enacting EU legislation.

The EU's executive body, responsible for proposing legislation, managing EU policies, and implementing decisions made by the European Parliament and the Council of the European Union.

Coudenhove-Kalergi's plan for a unified Europe, proposed in 1923, aiming to counter communist influence and promote economic integration, eventually leading to a united Europe.

A plan for European cooperation proposed by Aristide Briand in 1930, following the failure of the Pan-Europa Plan and aimed at achieving economic and political integration.

The European Defence Community (EDC) proposal aimed to create a unified European army with supranational control, meaning soldiers would report to a higher authority beyond their national governments. However, it was ultimately rejected due to French concerns over German rearmament and the potential loss of sovereignty. The existence of NATO also offered little benefit, as it posed the risk of rivalry with the US.

The European Economic Community (EEC) was a key success in European integration, characterized by the removal of trade barriers, leading to economic growth, reduced inflation, and the 'Glorious Thirty Years' of prosperity. This period saw increased quality of life, reduced unemployment, and enabled specialization in countries' strengths, like exporting agricultural goods.

The EEC differed from the European Coal and Steel Community (ECSC) by focusing on economic integration rather than just coal and steel. The EEC aimed to eliminate trade barriers between member states and create a common market. This contrasts with the ECSC's narrow focus on specific industries, highlighting the EEC's broader scope.

The European Union's approach to integration largely favors intergovernmental cooperation over supranational authority. This means member states retain significant control, primarily through agreements and treaties focusing on economic aspects rather than military alliances. This reflects the historical reluctance to surrender national sovereignty exemplified by the EDC's failure.

The Western European Union (WEU), formed in 1955, consisted of 10 Western European countries. Its purpose was to promote cooperation in defense and security. While primarily a political organization, the WEU also focused on military aspects, reflecting Europe's post-World War II desire for greater coordination in defense matters. However, it was superseded by the EU's Common Security and Defence Policy (CSDP).

The end of the Cold War in 1989 and the subsequent reunification of Germany in 1990 significantly influenced the development of the European Union.

The creation of the European Monetary Union (EMU) was a major step towards European integration, involving the adoption of a single currency, the Euro.

The EMU can be seen as a compromise between France's desire for a stronger integrated Europe and Germany's desire for a stable monetary policy, similar to the Bundesbank's approach.

The Maastricht Treaty, signed in 1992, established the framework for the European Union, including the three pillars: the European Economic Community, Justice and Home Affairs, and Common Foreign and Security Policy.

The UK, while accepting the Maastricht Treaty, opted out of the final stage of the European Economic and Monetary Union (EMU), retaining its own currency (pound Sterling) and independent monetary policy.

The Copenhagen Criteria, established in 1993, outline the requirements for countries aspiring to join the European Union: political stability, a functioning market economy, a commitment to human rights and rule of law.

The European Union, following its establishment, has had a significant impact on geopolitics, contributing to regional stability, economic development, and global influence.

The EU's emergence has led to closer economic and political cooperation between member states, contributing to increased stability and prosperity in Europe while promoting its role in global affairs.

A negotiation format involving the European Parliament (EP), Council of the European Union (Council), and European Commission where legislation gets discussed and decided.

Committees in the European Parliament handle specific policy areas like trade or agriculture, gather expertise, and discuss legislation before plenary sessions.

The European Parliament's President leads the Parliament, presides over plenary sessions, and represents the institution.

Members of the European Parliament (MEPs) representing their respective political groups in the EU.

A key player in the EU legislative process, the rapporteur drafts a report for a committee, shapes its position, and participates in negotiations.

In the European Parliament, the 'shadow rapporteur' represents a political group's alternative position to the proposal.

Voter turnout in the European Parliament elections has been historically low, raising concerns about the legislature's legitimacy.

The European Parliament's elections are held every five years, with citizens of the EU residing in member states eligible to vote and stand as candidates.

The European Parliament plays a significant role in EU decision-making but has struggled with low voter turnout, challenging its legitimacy.

Explanations for low turnout in EP elections include voters prioritizing national elections and the lack of media attention on EU politics.

A theoretical framework that defines conditions for a successful single currency area, suggesting that countries should have similar economic structures, easy movement of labor and capital, and a willingness to share economic risks.

The process of integrating national economies through stages, starting with free trade and culminating in political union. It describes the gradual steps towards a single currency.

The idea that the process of economic integration can create its own momentum, leading to further integration and ultimately a single currency. This theory argues that creating a shared currency can make economic interdependence more likely.

The process of creating a single currency area, where member states share a common currency and monetary policy. This means countries give up control over their own interest rates and exchange rates.

A perspective on EMU arguing that economic cooperation is a natural consequence of fixing exchange rates. This contrasts with the view that economic coordination should occur before creating a single currency.

A model that emphasizes national concerns and voter satisfaction with the national government as primary drivers of European Parliament voting behavior. Voters are seen as less informed about EU issues and focus on national matters when choosing their EP representative.

A model that suggests EU issues and preferences strongly influence voting in the European Parliament, overshadowing national political dynamics and party affiliations. Voters are seen as more aware of European affairs and shape their choices around EU priorities.

The European People's Party is the largest political group in the European Parliament. It comprises center-right, conservative, and Christian democratic parties from across the EU. The party's views often converge with those of the S&D on various European issues.

The Socialists and Democrats (S&D) are the second-largest political group in the European Parliament, known for their progressive and socially democratic views. They often work in coalition with the EPP on key issues, shaping the EU's legislative agenda.

Renew Europe is composed of liberal political parties in the European Parliament. They often form alliances with the EPP and S&D, contributing to a broader consensus on policy-making within the EU.

The European Conservatives and Reformists (ECR) is a political group in the European Parliament that advocates for a more national-oriented EU. They often present an alternative approach to European integration, emphasizing national sovereignty within the EU framework.

The European Parliament has been experiencing a shift towards the right, with several right-wing and conservative parties making gains in recent elections.

The increase in the number of right-wing parties in the European Parliament, particularly prominent in countries like France, Italy, Austria, Germany, and the Netherlands, can be seen as a trend of growing right-wing influence within the EU.