I. GENERAL COMMENTS CONCERNING THE EU
B. The Institutions
of the EU
The Institutions of the EU are the Parliament,
the Commission, the European Court of Justice,
the Economic and Social Committee and with
the Treaty of Maastricht the European Monetary
Institute, the European Central Bank and the
European Central Bank system.
a. The Parliament
The European Parliament, also called the Assembly,
is located in the Franco-German border town
of Strasbourg. It is charged under the Treaty
of Rome with mainly advisory and supervisory
responsibilities, and was not intended as
a legislative body even though it assumes
a substantial part in the legislative process
and has recently been given veto powers over
certain aspects of the EU budget. The Parliament
has an advisory role under the Treaty of Rome
but the Council has no obligation to follow
its advice, although its powers have been
strengthened in the Treaty of Maastricht and
in the Amsterdam Treaty.
b. The Council
The Council consists of representatives of
the Member States (one for each State) and
is ensuring that the objectives of the Treaty
of Rome are fulfilled. The Council is not
a permanent body, its members having full-time
responsibilities in their States either as
ministers or as civil servants and meeting
only a few days a month.
c. The Commission
The Commission has been described as the "guardian"
of the Treaty. The Commission consists of
twenty members (two from each of the four
biggest members and Spain, and one from each
of the other States). The members are appointed
by the governments of the Member States, although
in the performance of their duties they must
not take any instructions from any government
or any other body.
The Commission has three functions.
First it is the promoter of Union’s
action, with respect, for instance, to its
role in the enactment of the directives. Secondly,
it is the Union’s watchdog and thirdly,
it functions as the executive of the EU. It
is worth noting in particular that competition
policy is enforced solely by the Commission.
d. The European
Court of Justice
The European Court of Justice is in charge
of the interpretation and application of Community
law. It is the supreme authority on all matters
of Community Law. Issues are brought before
it by the national courts of the Member States
or by the Member States themselves, following
specific proceedings.
The case law of the European Court
of Justice today is a fundamental source of
law not only in the scope of the treaties
but also in Human Rights field : its creative
role has permitted to compensate the non-adhesion
of the EU to the European Human Rights Convention
as independent entity towards its Member States
(although the current negotiations aim at
this purpose).
e. Economic
and Social Committee
The Economic and Social Committee has a consultative
role in the EU decision-making process. It
members are appointed by the Council in their
personal capacity and represent a variety
of interests such as farmers, workers, trade
unionists and consumers.
f. The Comity
of Regions
It includes 222 members and does represent
the regional and local entities of the EU.
Before any decision, the Council and Commission
are under the obligation to consult the Comity
of Regions.
g. Economic
and Monetary Union (EMU)
The Economic and Monetary Union has been brought
into operation in January 1999. Its three
corner stones are a close coordination of
the States’ economic policies, a unique
currency (the "Euro"), and an irrevocable
fixing of the rates of exchange.
On 2 May 1998, the Council of
the EU unanimously decided that 11 Member
States fulfilled the necessary conditions
for the adoption of the single currency on
the 1st of January 1999. These States are
: Austria, Belgium, Finland, France, Germany,
Ireland, Italy, Luxembourg, The Netherlands,
Portugal, Spain, Denmark, Greece and Sweden.
The UK has not joined the EURO for the time
being.
The European Central Bank (ECB)
was created on the 1st of June 1998. It is
partially independent. Its primary goal is
price stability which should be gained through
low interest rates, strong investment growth,
high economic growth and employment policy.
The Global Economy has welcomed
a new stabilizing force and Europe trading
partners among which the U.S is most important,
has gained from increased transparency, lower
costs and great predictability in the E.U
market.
