The Impact of the EU Flashcards
(19 cards)
What is a Customs Union?
A pact between countries to lower or remove tariffs between them.
Customs unions facilitate trade by reducing costs associated with tariffs.
What does the Single Market include?
It eliminates tariffs, quotas, or taxes on trade and includes the free movement of goods, services, capital, and people.
It also strives to remove non-tariff barriers like differing packaging and safety standards.
What are the Four Freedoms in the EU?
Free movement of goods, services, capital, and people within the EU.
These freedoms are fundamental to the functioning of the Single Market.
What is a Monetary Union?
An agreement between states to create a single currency for them to use.
The Euro is an example of a currency used in a monetary union.
When did the UK join the EEC?
In 1973 under Edward Heath’s Conservative government.
This decision was later approved by a public referendum in 1975.
What significant treaty changed the EEC into the EU?
The Maastricht Treaty, signed in 1992.
This treaty marked a shift from an economic free trade area to a closer economic and political union.
How many new member states joined the EU between 2004 and 2007?
12 extra member states.
This enlargement increased the complexity of EU politics, especially regarding free movement.
What was the outcome of the 2016 EU membership referendum in the UK?
The leave campaign won with 52% to 48%.
This referendum was significant in determining the UK’s future relationship with the EU.
When did the UK officially leave the EU?
On 31st January 2020.
This marked the end of a 47-year membership in the EU.
What is one factor that drove European integration?
Promoting peace.
The EU was established to prevent further conflicts in Europe, especially after WWII.
What economic theory supports the creation of a customs union?
Comparative advantage theory.
This theory suggests that countries benefit from specializing in the production of goods where they have a relative efficiency.
What is the Schengen agreement?
An agreement promoting free movement of people without passport checks across most EU countries.
The UK and Ireland negotiated opt-outs from this agreement.
When was the Euro introduced as a trading currency?
In 1999 and issued as notes and coins from 2002.
The Euro aimed to enhance trade by reducing currency fluctuation uncertainties.
What are the criteria for EU member states’ admission following the Cold War?
They must evolve into liberal democracies and free market economies.
This requirement reflects the EU’s values of democracy and capitalism.
What is the purpose of the EU’s social policy?
To ensure workers do not suffer disadvantage and discrimination, creating a level playing field for businesses.
It aims to balance the economic freedoms of the single market.
What is the political structure of the EU?
It has a balance between intergovernmental and supranational institutions.
Supranationalism involves decision-making transferred to a higher body independent of nation-states.
What is the European Court of Justice?
A supranational body composed of judges from each member state, interpreting EU law and settling disputes.
It was established in 1952 by the Treaty of Paris.
How many judges are on the European Court of Justice?
One judge from each member state.
Judges are selected from legal experts throughout the EU.
What is one of the main tasks of the European Court of Justice?
To interpret EU law and settle disputes between nations.
This role is crucial for maintaining legal consistency across member states.
