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  • You've heard of the European Union, but what about the European Commission?

  • Or the European Council?

  • Or what about the European Parliament?

  • Yes, the EU is a very complex system.

  • So complicated that even former U.S. Secretary of State Henry Kissinger, reportedly once

  • askedWho do I call, if I want to call Europe?”

  • As the name suggests, the European Union is a political and economic union of 28 European countries.

  • The genesis of the EU can be traced to the aftermath of the two world wars, which were

  • responsible for millions of deaths and a devastated European economy.

  • In 1958, six founding countries, Belgium, Germany, France, Italy, Luxembourg

  • and the Netherlands, came together to form the European Economic Community.

  • The idea was that with increased economic cooperation, they would be less likely

  • to be drawn into a conflict.

  • What started as a purely economic partnership has evolved over the past 60 years into other

  • policy areas too. These include security, climate, and foreign relations.

  • To represent this broader remit, the European Economic Community became

  • the European Union in 1993.

  • So, how does the EU work?

  • Well, one big thing to note is that there is no single leader of the European Union.

  • Instead, its responsibilities are spread across seven institutions, but we're going to focus

  • on the three main ones: The European Commission,

  • the European Parliament and the Council of the European Union.

  • Let's start with the European Commission.

  • This is the engine room of the EU - the executive body that proposes new laws.

  • Every member state has its own commissioner but they're supposed to be politically independent,

  • bound by a promise to represent the interests of the EU before their home countries.

  • Each commissioner is in charge of a specific portfolio - similar to a government's cabinet of ministers.

  • This institution is based in the Belgian capital, Brussels.

  • Now, the European Parliament.

  • It is based here in Brussels but also in the French city of Strasbourg, where its members

  • meet 12 times per year. This is where lawmakers vote on laws.

  • Presently, it has 751 Members of the European Parliament, or MEPs, from 28 member states.

  • However, with the U.K.'s departure from the EU, that number is set to come down to 705.

  • Importantly, this is the only European institution that directly represents EU citizens.

  • Every five years, citizens elect their representatives to the European Parliament.

  • Finally, let's look at the Council of the European Union.

  • It's made of ministers from the different EU member states.

  • Ministers with similar roles, whether it be overseeing finance, education or defense,

  • meet regularly to discuss, amend and adopt laws.

  • The Council of the European Union, together with the European Parliament, are the

  • main decision-making bodies of the EU.

  • But don't confuse the Council of the European Union with the European Council.

  • The leaders of the EU also meet in this building for quarterly summits.

  • Discussions here often happen at the highest level, which is why you'll see heads of

  • state like the chancellor of Germany and president of France meeting up in Brussels.

  • Other important European bodies include the European Court of Justice, the Court of Auditors

  • and the European Central Bank.

  • Based in Luxembourg, the ECJ ensures European law is interpreted and applied in the same

  • way across the EU. Kind of like the U.S. Supreme Court.

  • Also in Luxembourg is the Court of Auditors.

  • It acts like the union's CFO, responsible for looking after the Community budget.

  • And then there is the European Central Bank in Frankfurt, which sets monetary policy in the eurozone.

  • Yes, that's right. The eurozone, not the EU.

  • This is another important distinction.

  • Currently, only 19 of the 28 EU member states form the eurozone, while the remaining nine

  • are still using their own national currencies.

  • The EU is a complex political arrangement.

  • Critics say it will not survive due to the many differences of opinion between and within each country.

  • And with tens of thousands of people across dozens of nationalities working for the EU,

  • its institutions have also been criticized for its bureaucracies and complexities, saying

  • it makes it hard to get things done.

  • At the same time, this arrangement has lasted more than 60 years and has so far achieved

  • its main aim: avoiding war between the neighboring countries.

You've heard of the European Union, but what about the European Commission?

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EUとは何か?| CNBCが解説 (What is the EU? | CNBC Explains)

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    April Lu に公開 2021 年 01 月 14 日
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