Széchenyi István University Győr, Summer Seminar 2012

1957 Roman Treaty Merger Treaty European Council Conclusion 1975 Schengen Treaty 1985 Single European Act 1986 Maastricht Treaty 1992 Amsterdam Treaty 1997 Lisbon Treaty 2009

 The aim in the EU: to make a consistent whole of law.  Important concept of the EU: creating common standards in the internal market.  The legal definition: 1. Cooperation between governments to make laws more uniform an coherent. 2. A policy of the EU to achieve uniformity in laws of member states to facilitate free trade and protect citzens.

 Generally the EU harmonises laws as standard by issuing Directives.  Directives set out standards and objectives.  Members States are obliged to implement it.  Mutual recognition as general principle.

 Full harmonisation. No room for member state to take action.  Completely harmonised: banking financial services, insurance of motor vehicles, cosmetics, telecommunication, etc.  Minimum harmonisation: the member states are free to impose higher standards on goods and services.

 Most important legislative instrument.  Purpose: to reconcile the dual objectives of both securing the necessary uniformity of Union Law,  and respecting the diversity national traditions and structures.  Remove contradictions and conflicts between national laws.  Aim: not unification, but harmonisation!  Building the Single Market.

 Approximation of Laws Article 114 and Article 115. General legal basis.  EP and Council adopt the measures for approximation of the provisions laid down by law, regulation or administrative action in Member States which have as their object the establishment and functioning of internal market.

 Set up by 17 euro area member states.  The Treaty was signed on 2 February It refers to the European Financial Stability Facility  Its aim: to provide financial assistant to its member states that are experiencing and being threatened by financing problems.  It may give loans to members.  Precautionary financial assistance.  Loans for recapitalisation of financial institutions.

 Luxembourg  Board of Governors (Ministers of Finance from the euro aera).  European Commissioner for Economic and Monetary Affairs.  President of European Central Bank (observer).  Chairperson will be elected by the Board of Governors.  One Director will be appointed by each of member state. (and one Altenate)  Board of Directors.

 Board of Governors (assessment ECB and European Commission).  Granting aid – qualified majority of 85%. (urgent decision). Financial help for a member state.  Other decison – qualified majority: number of shares allocated to the country in the capital stock of EMS.

 EUR 80 billion capital from member states.  Furthermore EUR 620 billion will be able to call.  Total lendig capacity of EUR 700 billion („firewall”).

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