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Eropean Union - Essay Example

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In addition to the United States, the European Union represents the foremost political and economic partnership in the Western hemisphere. The EU constitutes twenty-seven independent member states through Europe…
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Eropean Union
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"Eropean Union"

Download file to see previous pages The European Union operates through a system of supranational institutions. These institutions include a variety of prominent branches, including the European Commission, the Council of the European Union, the European Parliament, the Court of Justice of the European Union, and the European Central Bank. This essay examines these branches and considers the most critical barriers to further EU integration. The different branches of the European Union have distinctly different functions. The European Commission is the recognized executive body of the European Union. This body has a broad variety of functions that includes developing legislation, decision implementation, upholding EU treaties, and running the daily measures of the union (Staab). While the United States executive branch has a single president, the EU operates with twenty-seven commissioners and a Commission President. The European Commission notably is the sole branch with the power of legislative initiative. The Council of the European Union is, along with the European Parliament, the legislative body of the European Union. ...
Another prominent power of these legislative branches is their authority over the budget (Leonard). Both of the legislative bodies have equal power over the budget. If there is a disagreement between these powers there is a conciliation committee that arbitrates these disputes. Finally, the European Parliament has the power of supervision (Leonard). This means that they can establish supervisory council over issues such as natural disasters or disease. The final two branches of the European Union are the Court of Justice of the European Union, and the European Central Bank. The Court of Justice is the European Union’s judicial branch. The purpose of this branch of the EU is to ensure that treaties passed by the EU are followed and observed in the proper interpretation (Staab). This branch contains the European Court of Justice, the General Court, and the Civil Service Tribunal. The European Central Bank oversees the monetary policy of the members of the European Union (Staab). The overriding purpose of the European Central Bank is to ensure price stability through developing measures to fight against inflation. The ECB also has the notable power of issuing euro banknotes (Staab). While the European member states are able to issue their own euro bank notes, they must first receive the permission of the ECB. While the European Union has witnessed tremendous integration in recent decades there still remains prominent barriers to integration. Within this context of investigation the most prominent barriers to integration relate to trade and financial matters. While seventeen member states have adopted the Euro as their predominant currency there remains objection to full-scale implementation of this currency. One considers the current European ...Download file to see next pagesRead More
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