Tutorial 6 Flashcards

(47 cards)

1
Q

Chapter 8

customs union

A

A free trade area with common external tariffs for imports to the union

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2
Q

Chapter 8

common market

A

An area with free movement of goods, services, capital and people.

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3
Q

Chapter 8

economic union

A

Countries coordinating their economic policies beyond the removal of tariffs and quotas.

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4
Q

Chapter 8

political union

A

Countries integrating major aspects of their political and economic affairs.

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5
Q

Chapter 8

Treaty of London

A
  • September 1949
  • Creation of the council of europe
  • Independent of the EU
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6
Q

Chapter 8

European convention of human rights

A
  • November 1950
  • Codifying individual human rights; creation of European Court of Human Rights
  • Ratified and in force 1953, independent of the EU
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7
Q

Chapter 8

Treaty of Paris

A
  • April 1951
  • European coal and steel community ECSC
  • In force 1952, now defunct
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8
Q

Chapter 8

Treaties of Rome

A
  • March 1957
  • Creation of the European Economic Community (EEC) and Euroatom
  • In effect from January 1958, with a completion target date set to December 1969
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9
Q

Chapter 8

First direct elections to the European Parliament

A
  • June 1979
  • Monitoring of EEC bureaucracy and its budget; co-decisions regarding European legislation
  • Elected every fifth year directly by the citizens of the EEC
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10
Q

Chapter 8

Schengen Convention

A
  • June 1958
  • Abolition of border controls
  • Implemented 1995
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11
Q

Chapter 8

Single European Act

A
  • February 1989
  • Creation of the European common market
  • Common market effective January 1, 1993
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12
Q

Chapter 8

Maastricht Treaty

A
  • February 1992
  • Creation of the monetary union; extension of political cooperation, EEC becomes European Union (EU
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13
Q

Chapter 8

Copenhagen Criteria

A
  • June 1993
  • Conditions that new members have to fulfil to join the EU
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14
Q

Chapter 8

Amsterdam Treaty

A
  • Ocotober 1997
  • Further streamlining of decision- making processes; tidying up gaps in Maastricht Treaty
  • In force 1999
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15
Q

Chapter 8

Bologna declaration

A
  • June 1999
  • Creation of a single European higher educational area
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16
Q

Chapter 8

Nice treaty

A
  • February 2001
  • Further streamlining of decision- making processes; realignment of voting power
  • In force 2003
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17
Q

Chapter 8

Constitution

A
  • October 2004
  • Integrating the treaties; creating new structures and policy areas
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18
Q

Chapter 8

Lisbon treaty

A
  • December 2007
  • Integration of agreements; simplification of institutions
  • In force December 2008
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19
Q

Chapter 8

European stability mechanism

A
  • December 2011
  • Organization providing support for countries in financial difficulties
  • September 2012
20
Q

Chapter 8

Comecon

A

The pre-1990 trading bloc of socialist countries.

21
Q

Chapter 8

economic transition

A

The process of changing from a central plan to a market economy.

22
Q

Chapter 8

four freedoms of the EU single market

A

Freedom of movement
of people, goods, services and capital

23
Q

Chapter 8

mutual recognition

A

The principle that products recognized as legal in one country may be sold throughout the EU.

24
Q

Chapter 8

subsidiarity

A

The EU takes action only if it is more effective than actions taken at lower levels.

25
# Chapter 8 harmonized sector
Sectors of industry for which the EU has created common rules
26
# Chapter 8 state aid
Financial support from government to firms through, e.g. subsidies or tax rebates.
27
# Chapter 8 subsidy competition
Competition between governments trying to attract investors by offering subsidies.
28
# Chapter 8 lobbying
Making your views known to decision-makers with the aim of influencing political processes.
29
# Chapter 9 multilateral organizations
Organizations set up by several collaborating countries.
30
# Chapter 9 General Agreement on Tarrifs and Trade(GATT)
A multilateral agreement governing the international trade of goods (merchandise).
31
# Chapter 9 General Trade on Trade in Services
A WTO agreement governing the international trade of services.
32
# Chapter 9 non-discrimination principle
A principle that a country cannot discriminate among its trading partners (also known as most favoured nation principle).
33
# Chapter 9 compulsory licensing
Licences issued by a national government in an emergency without agreement of the licence owner.
34
# Chapter 9 WTO dispute settelment agreement
A procedure of the WTO to resolve conflicts between governments over trade-related matters.
35
# Chapter 9 free trade agreements(FTAs)
A group of countries that remove trade barriers among themselves.
36
# Chapter 9 deep trade agreements
An FTA that covers more than removal of tariffs, quotas and export promotion.
37
# Chapter 9 regional FTAs
A free trade agreement between countries in the same region of the world.
38
# Chapter 9 Generalized System of Prefrences
A system of tariff reductions facilitating less and least developed country’s access to EU markets.
39
# Chapter 9 International Investement Agreements(IIAs)
Agreements between states to protect foreign direct investment between countries.
40
# Chapter 9 investor-state dispute settelment(ISDS)
Legal processes using tribunals that are outside the national and supranational court systems.
41
# Chapter 9 trade diversion
A change in trade pattern away from comparative advantages due to trade barriers.
42
# Chapter 9 development aid
A gift from generous donors wishing to help developing countries.
43
# Chapter 9 Kyoto Protocol
An agreement committing developed countries to limiting their greenhouse gas emissions.
44
# Chapter 9 Paris Agreement
An agreement in which countries make major commitments towards climate change goals.
45
# Chapter 9 Basel Commitee
A group of central bankers establishing standards for banking supervision.
46
# Chapter 9 risk ratings agencies
Agencies that assign ratings to assets such as bonds that indicate the level of riskiness of the asset.
47
# Chapter 9 black swan events
Rare events that occur only once in a generation.