EU PT 2 – Flashcard

28 independent members, one from each member state, act as reps for EU, not state. Functions: policy initiation and formulation, monitoring of policy implementation, management of European programs, external representation role. EC acts as negotiator in international matters. World trade organization. On behalf of all members of EU. In addition to important functions internally, important externally.

FOR Turkey's EU membership AGAINST Turkey's EU membership 1. GEOGRAPHY Istanbul is a great European city that lies at the economic and cultural heart of Turkey. The country is an invaluable bridge between Europe and Asia. As a member, it would re-invigorate Europe's relations with fast evolving regions like the energy rich Caucasus and Central Asia, to the new Middle East that emerging from the Arab Spring. Turkey's unique geo-strategic position, plus the strength of NATO's second-largest army would greatly add to European security. 1. GEOGRAPHY Turkey is not a European country. 97% of its territory lies in Asia. The EU does not need shared borders with Syria, Iran and Iraq. Agreeing to one non-European member would open the door for candidates from Cape Verde to Kazakhstan. Turkey is too big for the EU to absorb. With a population predicted to reach 91 million by 2050, it will be the dominant member of the EU. 2. POLITICS Turkey is already a vibrant democracy. The prospect of EU membership has spurred reforms that strengthen pluralistic politics and improve human rights. The passage to membership will provide the incentive to complete those reforms. Turkey is a strong and loyal NATO ally. Leaving it in the cold, could see this growing economic and diplomatic power develop into an uncomfortable rival to European interests in a sensitive region. Having accepted Turkey as a candidate, rejecting it now would undermine European credibility. 2. POLITICS Turkey is not a mature European-style democracy. Its politics are a tussle between an overbearing military and Islamists of varying hues. Human rights are routinely abused. Dozens of journalists languish in jail. Amnesty International's annual report is filled with accounts of torture, free speech violations, denial of minority rights, unfair trials, failure to protect women. Europe would import the intractable Kurdish issue. Public opinion in the EU is overwhelmingly opposed and the Turks are only lukewarm about joining. 3. ECONOMICS The Turkish economy is thriving. Growth averaged for 2014 was around 3.5% and it weathered the global financial downturn much better than most EU nations. Its public finances are the envy of southern Europe. Per-capital income has increased six-fold and the average Turk is now better off than his Romanian and Bulgarian counterparts in the EU. Only New York, London and Moscow have more resident billionaires than Istanbul. Bringing in such a dynamo would inject new life into the EU economy, as well as adding 75 million consumers to the single market. 3. ECONOMICS Despite it recent growth, Turkey remains an underdeveloped economy. Its GDP per capita at €13,000 is less than half the EU average. The entry of a country that poor and that big would place unbearable strains on EU finances. Turkey's wealth is unequally spread, meaning that an army of poor immigrants would head west, joining the estimated 10 million Turks already living in the EU. In addition, though Turkey weathered the economic crisis much better than most, it failed to push through necessary reforms and economic growth is falling while unemployment is rising. 4. HISTORY, CULTURE, RELIGION Reaching out to this prosperous Muslim democracy would send a clear signal that Europe is open to the Islamic world. EU membership would be symbolic of Turkey's success as a secular Islamic nation and a model for others from Morocco to Indonesia. Turkey has been fully entwined in Europe's history since the Ottomans crossed the Bosporus in the 14th Century. The country's westward outlook has accentuated under the republic since 1922. Turkey's rich cultural heritage is unique, but it is also undeniably European. EU membership would be a catalyst for resolving the Kurdish issue as well as relations with Cyprus and Armenia. 4. HISTORY, CULTURE, RELIGION Turkey's historic and cultural roots lay in Central Asia and the Middle East. It missed the shared experiences that bind Europeans together, from the cultural legacy of Renaissance and Enlightenment, to the horrors of the Second World War II which galvanized the drive for united Europe. As an overwhelmingly Muslim nation, Turkey's cultural traditions are fundamentally different from that of Christian Europe. Turkey's historical interaction with Europe has always been as an outside invader. Cyprus is an insurmountable obstacle.

an institution divided into two sub institutions with different compositions and functions 1. European council: heads of state and government - 56 members 2. Council of ministers: one minister for each country - 20 members, but many different ministers depending on policy sectors Functions of the EC: setting of the overall guidelines for European union policies. Functions of the council of ministers: legislative and budgetary power Donald Tusk: president of the European council Presidenct of the council of the European union: every 6 months, rotates among all the member countries of the European union Dutch chairs agricultural policy right now Number of votes per country: France, Germany, Italy, UK: 29 Poland, Spain: 27 Romania: 14 Netherlands: 13 Belgium, Czech republic, Greece, hungary, Portugal: 12 Austria, Bulgaria, Sweden: 10 Croatia, Denmark, finland, Ireland, Lithuania, Slovakia: 7 Cyprus, Estonia, Latvia, Luxembourg, Slovenia: 4 Malta: 3 Qualified majority (needed for most decisions) 255 votes out of 345 (73.9%) and a majority of member states high representatives of the union for foreign affairs and security policy: Catherine ashton (2009-2014) Federica mogherini: (2014-2019) Chairman/chairwoman of the foreign affairs council meetings. Vice president of the European commission.

composed of seven hundred fifty one directly elected parliamentarians Functions: legislative and budgetary power, democratic supervision of all the European union's work. Located in Brussels, Luxembourg, and Strasburg President of the European parliament: Martin Schulz (2012-) german social democratic person Number of seats per country: Germany - 96 France - 74 Italy, united kingdom - 73 Spain - 54 Poland -51 Romania - 32 Netherlands - 26 Belgium, Czech republic, Greece, hungary, Portugal - 21 Sweden - 20 Idk the rest Parliamentarians in European parliament act on behalf of the political parties of which they are members

Composition: 28 indpedent judges, one from each member state Functions: rules on interpretation of EU's law Responsibility for ensuring that all member states apply European union's law in the same way

Proposal by European commission discussed by European parliament and council of ministers. Can discuss, reject, and approve that propsal How is European law made: codecision procedure Citizens, interest groups experts, discuss and consult → commission: makes formal proposal → parliament and council of ministers decide jointly → national or local authorities implement → commission and court of justice, monitor implementation

Infringement proceedings: 1. Administrative stage 2. Judicial stage If the court of justice confirms the alleged infringement, the member state must comply with the decision and end the infringement. If the member state does not end with the infringement, the commission, may bring a new action before the court asking for the imposition of a penalty payment

What the budget of the EU is used for: 150.9 billioneuros = 1.2% of gross national income most part of resources in hands of member states budget of European union: 46.8 %devoted to sustainable growth, which means regional policy, 6.4%: EU as a global player, 1.4%: citizenship, freedom, security, and justice, 39.8%: natural resources, rural development, environment and fisheries, market related expenditure and direct aids

the US dollar was linked to gold while European currencies were linked to the U.S. dollar IMF, world bank, world trade organization, GATT Implications of the Bretton woods system: it contributed to economic growth in the member states of the European communities, it helped the member states of the European communities to establish the European customs union, it obviated the need for any common monetary policy at European level Richard Nixon (69-74) - the U.S. unilateraly cancelled the direct convertibility of the US dollar to gold, essentially ending the Bretton woods system

1972: snake in the tunnel - system aimed at limiting fluctuations among European currencies → oil crisis → 73/74, collapse of the snake in the tunnel devaluation of GB pound, IR, Franc, Italian lira, all had to leave helped tank snake in the tunnel. Only strong currency was deutche mark in 73-74.

1979: European monetary system, European exchange rate mechanism. European currency unit. European monetary cooperation fund. Supposed to help countries in difficulty weaknesses of the European monetary system: dissatisfaction with german dominance over the European monetary system. Inadequacy of the European monetary stem in view of the establishment of the European single market

1989 - Delors report, pillars of the proposal Deutsche mark a symbol of the german people after WWII - establishment of an independent European central bank with the explicit goal of price stability - establishment of a monetary union restricted to countries meeting strict convergence criteria - establishment of a single currency

Stage 1:The first stage, narrowing of exchange-rate fluctuations, was to be tried on an experimental basis without any commitment to the other stages. Unfortunately, the Werner strategy took for granted fixed exchange rates against the dollar. When the USA effectively floated the dollar from August 1971, the ensuing wave of market instability put upward pressure on the Deutschmark and squashed hopes of tying the Community's currencies more closely together. Stage 1 (1990-1994) Complete the internal market and remove restrictions on further financial integration. Stage 2: 1994-1998: establishment of the european monetary instittute, convergence of economic and monetary policy. 5 criteria for convergence: low public budget deficit, low public debt, low inflation rate, low long term interest rate, stable exchange rate, adoption of the stability and growth pact, countries increase taxes and reduce spending. euro immediately unpopular in italy. you had to continue to meet convergence criteria after the fact. 1998: european council in brussels: 11 countries deemed ready to enter euro zone. greece doesn't enter until 2001-2002. great britain, denmark, sweden, did not want to enter eurozone for political and economic reasons. sweden allowed to opt out even though not a founding member of the eurozone. third stage: 1998-99 - establishment of the european central bank - determination of irrevocable exchange rates - intro of euro as official currency objective of all this was to establish a european system of central banks, single currency, single monetary policy, single exchange rate

yeah that happened

the group of countries or member states of the EU that decide to adopt the euro. germany, france, italy, spain, portugal, belgium, netherlands, lux, ireland, finland, austria, greece, slovenia, cyprus, malta, slovakia, estonia, latvia, lithuania.

define and implement the monetary policy for the eurozone. authorized the issuance of euro banknotes. aim: maintain price stability.

finance ministers of the member tates of the eurozone. functions: responsible for coordination of economic policies

intitially a success, steady incline from 2001-2008. weakest economies in the world choose stable curriences, tho. used as a trading currency by cuba, north korea, and syria. from 2000 onward in iraq began the sale of country's oil denominated in euros rather than dollars but when iraq was invaded the U.S. interim adminsitration immediately switched all sales of oil back to U.S. dollar. usage of reserve currency: goes from 17.9% in 1999 to 27 percent in 2009.

financial crisis in US in 2008-2009 means crises in europe between 2008-2010 in greece, ireland, portugal, spain, cyprus, italy and a eurozone crisis: government debt crisis, banking crisis, growth crisis, political crisis, social crisis

european commission, european central bank, IMF. cheap loans bail out programs, european financial stabilization mechanism, european stability mechanism. these programs in exchange for austerity measures

1. DOWNWARD SPIRAL Austerity cannot be applied in a recession without triggering a downward growth spiral. Now is the time to stimulate the economy, because growth is the only way to provide a sustainable exit from the slump. If you impose public sector cuts while the private sector is deleveraging, where is growth going to come from? The priority for European governments should be to keep money flowing to generate the growth that's ultimately going to be needed to pay off the debt. 1. NO PAIN NO GAIN If you don't pay for your mistakes, you don't learn from them. It's a painful lesson, but Greece, Portugal and the rest need to go through it. If not, they will soon fall back into their bad habits, confident that their prudent northern neighbours will bail them out. 2. BABY WITH THE BATHWATER The current levels of austerity being imposed on Greece, Portugal and Spain risk killing the patient they are designed to cure. The Greek economy has shrunk a total of 18 percent over the past five years, with no sign of recovery. In Portugal, the best and brightest young minds are fleeing to seek jobs in Brazil, Angola or Mozambique. In times of grave crisis, you need a flexible, imaginative response not the stubborn application of economic orthodoxy. 2. WHAT DOESN'T KILL YOU MAKES YOU STRONGER Austerity will leave European economies leaner, meaner and more competitive. Euro-zone nations need shock treatment to ensure they can hold their own in the globalized economy. It's their failure to swallow the economic medicine that has left the likes of Portugal and Italy with a decade of stagnant growth. From Mexico in the 1980s to the Baltic States right now, history is full of examples of how austerity can be the spark for sustainable recovery. 3. PLENTY OF ALTERNATIVES It's nonsense to insist austerity is the only alternative. If Germany had shown solidarity at the start of the crisis by agreeing to mutualise Greek debt, the crisis could have been snuffed out in weeks. Even at this late stage, eurobonds could still be an effective solution. So could a devaluation of the euro which remains far too strong against the dollar. That would give everybody a boost - including German exporters. Germany should also look to its history: post-WWII, the Marshall Plan stimulus was the foundation for decades of prosperity; post-WWI, the economic hardship imposed from Versailles led to catastrophe. 3. FREE LUNCH In a currency union you have to play by the rules. The only alternative to austerity is asking the hard-working taxpayers of Germany, the Netherlands and other fiscally responsibility countries to fork out for a feckless southern spending spree. That is morally wrong and it would have grave political consequences in Europe, turning northern voters towards anti-European popularists. It's already happening in the Netherlands and Finland. 4. REBELLION Austerity is destroying the social fabric of southern European nations. It hits hardest against the poor who played no role in causing the crisis, while bankers, property speculators and politicians get away scot free; small wonder that people are taking to the streets. Without a relaxation of the endless belt-tightening, the current wave of protest could get out of hand. Political extremists will be the biggest beneficiaries. 4. AUSTERITY = RECOVERY There can be no real recovery unless nations get their public finances in order. You simply can't spend your way out of a recession. Even in normal circumstances that's a recipe for inflation and instability. Within the euro-zone it would place untenable strains on the currency union. Markets will only be reassured by credible, long-term plans to cut deficits and debt. Only then can sustainable growth resume.

Containment is a military strategy to stop the expansion of an enemy. It is best known as the Cold War policy of the United States and its allies to prevent the spread of communism abroad. A component of the Cold War, this policy was a response to a series of moves by the Soviet Union to enlarge communist influence in Eastern Europe, China, Korea, Africa, and Vietnam. Containment represented a middle-ground position between detente and rollback, but it let the opponent choose the place and time of any confrontation. The basis of the doctrine was articulated in a 1946 cable by U.S. diplomat George F. Kennan during the post-WWII administration of U.S. President Harry Truman. As a description of U.S. foreign policy, the word originated in a report Kennan submitted to U.S. Defense Secretary James Forrestal in 1947, a report that was later used in a magazine article. It is a translation of the French cordon sanitaire, used to describe Western policy toward the Soviet Union in the 1920s. US became moral leader because of 2nd world war. stablest democracy in world. richest country. strongest military. 45-46 isolationist foreign policy, US wanted to adopt policy of disengagement but didn't. provided economic aid through the uN relief and rehabilitation administration, but these aids were small. US maintainted troops in western euro countries but procliamed that it wanted to withdraw within two years. harry truman: containment doctrine: need to provide anti-communist in greece and turkey with financial assistance. support anti-communists, resist russian pressures. this speech marked, according to historians, beginning of cold war. marshall plan: US and canada assistance program to promote european recovery and reconstruction. george marshall wassecretary of state. economic prosperity might favor political stability. economic cooperation favors political cooperation. if US makes socioeconomic conditions better, ppl will support status quo rather than communism. marshall plan unites western europe: first stage in european integration 1948: organization for european economic cooperation 1961: organization for economic cooperation and development 1949: north atlantic treaty, US led military alliance against external aggression. NATO created this year. initially a political organization, but grew as communism did

JFK:«The United States will be ready for a "Declaration of Interdependence", [...] we will be prepared to discuss with a united Europe the ways and means of forming a concrete Atlantic partnership between the new union now emerging in Europe and the old American Union [...]» CDG: VETOED british accession and withdrew from NATO's integrated military command.«[the European Communities] would appear as a colossal Atlantic community under American dependence and direction, which would quickly have absorbed the community of Europe»

Nixon doctrine:«At the end of World War II the economies of the major industrial nations of Europe [...] were shattered. [...]. Today, largely with our help, they have regained their vitality. [...]. But now that these nations are economically strong, the time has come for them to bear their fair share of the burden of defending freedom around the world» vietnam war brought into question US focus on europe, US military superiority, US moral superiority «[...], I am today imposing an additional tax of 10 per cent on goods imported into the United States» «I have directed secretary [of the Treasury] to suspend temporarily the convertibility of the dollar into gold. [...]. The time has come for exchange rates to be set straight and for the major nations to compete as equals. There is no longer any need for the United States to compete with one hand tied behind her back» «[...] in recent years [...] American prestige has declined because of Vietnam, the well-publicized domestic unrest in the US, and the widespread belief among the youngest members of the political elites that the US and the USSR are collaborators in defense of the status quo»

A deal to cut tariffs and regulatory barriers to trade between the US and EU countries, making it easier for companies on both sides of the atlantic to access each other's markets. industries it would affect include pharmaceuticals, cars, energy, finance, chemicals, clothing, food and drink

For: brtisih government claims it could add 10 billion pounds to UK economy, 80 billion to US and 100 billion to EU every year. says shoppers would benefit by the removal of EU import tariffs on popular goods, such as jeans and cars. claims that reducing regulation would help UK businesses export to the US, with small business in particular predicted to benefit. supporters say restrictive markets would be opened up, for example, currently british lamb and venison cannot be exported to the US, david cameron promised to secure the deal, essential for reformed and competitive europe. supported by all except green party. opposition: investor state dispute settlement: this [procedure would allow companies to sue foreign governments over claims of unfair treatment and to be entitled to compensation. critics say the measures undermine the power of national governments to act in the interests of their citizens. FOOD STANDARDS: critics worry that the EU has stricter regulations on GM crops, pesticide use and food additives than US. TTIP could open EU market to cheaper products with poorer standards, food giants could bully governments to dropping food standard laws. PRIVACY: surveillance of personal data. financial services: could weaken the rules governing banks by diluting tougher reforms adopted in US

Relationship between GB and US very close. Dominated EU. Reagan assumed a rude attitude toward Europe. - strengthened relations with Israel - reduced intensity of relations with china - Reagan considered south America within sphere of influence of united states. Reagan rude lol - Reagan made political and economic sanctions against soviet union while Europe preferred to just have diplomatic relations with soviet union - Deployment of new intermediate range nuclear forces in western Europe in 1984 - 1983: strategic defense initiative ground and space system meant to counteract potential nuclear attacks from soviet union - Europeans said this opened a new phase of conflict in the world. Strategic defense initiative seen in fact as an act of aggression - Political military policy created issue in transatlantic relations - Reduction of taxes on the wealthiest of the population in the U.S. - State should play minimal role in economics - Reagan reduced public spending for social programs but increased spending on military. Reduced power and influence of trade unions and rights of workers - - cuts in public spending and cuts in taxes, privatization and liberalization deregulation, free trade policy - United states grew during reagan's neoliberal model 1986: single market program - a direct consequence of reagonmics. Not just tariffs, but capital, services, and persons - including known barriers to trade.

True transatlantic partnership: 1990-2000. The euro challenged the role played by the united states dollar. ECONOMIC MATTERS OF CONCERN TO THE UNITED STATES 1992: Establishment of the single European market 1992: decision to create a common European currency POLITICAL MATTERS OF CONCERN TO US 1992: establishment of the common foreign and security policy 1998: establishment of the European security and defense policy - European perceived as rising power by the U.S. The European union was interested in: commercial partnership, military assistance - Russia still seen as an enemy - European union was important for the united states as strategical and important. Europe the closest friend of the U.S. united states interested in commercial partnership - Contribution to the stabilization of the new Europe - Contribution to the preservation of world order

1990: transatlantic declaration - AIM - signed by bush senior, leaders of European community - aim was to create a system of reciprocal consultation and information to achieve common goals scope of cooperation: economic cooperation - educational, scientific, and cultural cooperation - cooperation in transnational challenges, such as proliferation in nuclear weapons, international terrorism, drug trafficking, international crime 1995: New transatlantic agenda signed by U.S. and EU Bill Clinton, felipe gonzalez (president of council of EU), Jacques santer (president of the European commission) Aim: built on extensive consultations established by 1990 transatlantic declaration and move to common action. - promoting peace, stability, democracy, development around the world - respond to global challenges - contribute to the expansion of world trade and closer economic relations - build cultural and human bridges across the atlantic

- George bush junior thought the U.S. could pursue goals without help from other countries

2001 - terrorist attacks on the united states EU showed solidarity with U.S. Global War on Terror happened. Group of European countries began to oppose united states and its strategy. Germany and france opposed the strategy since its inception. We have to respond militarily to terrorist organizations and all the countries that support them. - criticisms from france and Germany Operation enduring freedom - invasion of Afghanistan -european union reactions: military participation or strong support or reluctant support. Great Britain was the only country that became involved in main parts of operation. Strong political support given to that invasion from Italy and spain. Operation Iraqi freedom: invasion of Iraq European union reactions: france and Germany (plus Belgium, Luxembourg, and Greece) attempted to maintain solidarity around resistance to immediate use of force and full use of united nations United kingdom, spain, Italy, Portugal, Netherlands, and Denmark: plus Poland, hungary, Czech republic, Estonia, Latvia, Lithuania, Slovakia, Slovenia, Croatia, Albania, republic of Macedonia and Bulgaria, defected from any common position on the grounds that they should support the united states Donald Rumsfeld: you're thinking of Europe as Germany and france. I don't. I think that's the old Europe. If you look at the entire NATO Europe today, the center of gravity is shifting to the east. And there are a lot of new members. They're not with france or Germany on this, they're with the united states. - Rumsfeld wrong People opposing the war: Italy - 90% Germany - 89% Spain - 87% France - 87% UK - 80% Poland - 79% Latvia - 76% Hungary - 76% Czech republic - 70% 2001: European union opposition to the US decision to remove its signature from the Kyoto protocol 2002: European union opposition to the united states decision to halt ratification of the international criminal court. Real risks that George bush could be brought to international criminal court 2007: European union opposition to the extraordinary renditions. Torture is not okay. During the war on terror it was common in European countries to use torture. When suspected terrorists were in countries. Transferred to countries where torture is legal. European union opposition to the use of Guantanamo bay prison campus 2001-2008: contrast between the European union preference for multilateral trade agreements and the united states preference for bilateral trade agreements this is because U.S. has more power in these sort of two-way agreements

2001-2008: contrast between the European union preference for multilateral trade agreements and the united states preference for bilateral trade agreements this is because U.S. has more power in these sort of two-way agreements The Obama moment: between change and continuity: 2009 - Social democratic approach of Obama popular with Europeans. His approach in international politics showed more cooperation. Also acknowledgement of climate change. Commitment to equal administration of justice Continuities: importance of the military, failure in closing the Guantanamo bay detention camp, attitude toward the Kyoto protocol, attituted toward the international criminal court

European sovereign-debt crisis, risk of a collapse of the Eurozone. Collapse of Eurozone has consequences for U.S. most important trading partner for the united states. Loss of credits hafter giving trillions of dollars away. A decrease in confidence in consumers and investors in Europe and the U.S. Negotiations for the transatlantic free trade area: transatlantic trade and investment partnership. United states spy activity in the European union

Jeremy Rifkin: U.S. sociologist and economist - in many respects, the European dream is the mirror opposite of the American dream 7 main differences in terms of values between americans and Europeans: - attitude toward freedom: for americans, freedom means autonomy. You feel free when you are self-reliant and propertied. In Europe freedom is associated with embeddedness. Europeans feel free when they have access to others. Americans feel free when they're not dependent on others. Europeans feel free when they are dependent on others - toward security: americans feel security means exclusivity, Europeans like inclusivity, safer when they have rleations with others. - Economy: americans have quantitative definition of economy, more emphasis on personal wealth, economic growth. Europeans put more emphasis on the qualitative aspects of economy: quality of life, sustainable development - Work: hard work and careerism in the U.S., spare time and leisure in Europe. Job is not the center of life for europeans - Religion: the U.S. is about religiosity, EU is about secularism. Most americans believe in god and consider religion as important to their lives. 60% say their religion is very important in their lives. 82% say God is very important to them. Whereas in Europe, 33% of Italians and poles, 21% of germans, 16% of English, 14% of French, 112% of Czechs, 10% of swedes, 9% of danes say religion is important. 50% of danes, Norwegians, and swedes say god does not matter to them - Homeland: americans are in general more patriotic than Europeans, Europeans are more cosmopolitan. 72% say they are very proud of their country. 30-50 percent of Italians, danes, Dutchmen, Englishmen, and Frenchmen say they are very proud of their respective countries. Young people are even more proud than their fathers of being American. Young people in GB and german are prouder of their nationality. Most americans think culture is superior to others. This means you think it's your duty to export your culture to others. Conform to American way of life! - employment of force: US - tough approach to criminality (death penalty, high incarceration rate, assault weapon ownership, and use of military force in the world. Europe: soft approach to criminality and preference for diplomacy, economic assistance, and cultural dialogue. Socioeconomic conditions go into prison population too. Death penalty. United states decisions to attack Iraq. United states muscular attitude toward iran and north korea. The US has not fully come to terms with its preponderance of hard power. implications: wars can be presented in religious terms - Cold war against godless communism or the evil empire - war on terrorism: great crusade against axis of evil - although Europeans cringe at america's use of religious language to define the global struggle, white house rhetoric finds willing audience in American heartland - united states mistrust of united nations system - united states mistrust of the world trade organization - united states opposition to the international criminal court The Signatal system: response to Richard Nixon suspending the Bretton woods system. Allowed US to vote. Without the backing of the US dollar European currencies fluctuated Know the EU institutions! What does the European parliament do? Passes the proposals passed by the European commission together with the council of ministers! Aim is to improve the proposals made by the European commission. Directly elected body. Provides democratic element to European union According to Ronald Reagan there was the need to abolish as many barriers to trade as possible, trickle down economics brought about single market. The single market is an area in which all the barriers of goods, capitol and services are gone.

1947: adoption of the containment doctrine. 1949: signature of the north atlantic treat. 1971: collapse of the bretton woods system. 1990: signature of the transatlantic declaration. 1995: signature of the new transatlantic agenda 2001: terrorist attacks on new york. 2003: outbreak of the iraq war