THE EUROPEAN UNION 1

27 490 7 30 55 million What is the European Union? Shared values: liberty, democracy, respect for human rights and fundamental freedoms, and the rule of law. Largest economic body in the world. World’s most successful model for advancing peace and democracy. A unique institution – Member States voluntarily cede national sovereignty in many areas to carry out common policies and governance. Not a super-state to replace existing states, nor just an organization for international cooperation. World’s most open market for goods and commodities from developing countries. 27 Member States Combined population of EU Member States 490 million 7 Percent of world’s population Percent of global GDP 30 Percent of combined worldwide Official Development Assistance 55 2

United in Diversity - The €uro 3

1951 Founding Members Belgium France Germany Italy Luxembourg Netherlands 4

1973 Denmark Ireland United Kingdom 5

1981 Greece 6

1986 Portugal Spain 7

November 1989 Fall of the Berlin Wall sets the stage for unifying Europe and EU enlargement 8

1995 Austria Finland Sweden 9

2004 Cyprus Czech Republic Estonia Hungary Latvia Lithuania Malta Poland Slovakia Slovenia 10

2007 Bulgaria Romania 11

Candidate Countries Potential Croatia Former Yugoslav Republic of Macedonia Turkey Potential Albania Bosnia & Herzegovina Montenegro Serbia including Kosovo under UN Security Council Resolution 1244 12

European Commission President José Manuel Barroso EU Institutions European Commission 27 Commissioners, representing the European perspective, each responsible for a specific policy area. EU’s executive branch proposes legislation, manages Union’s day-to-day business and budget, and enforces rules. Negotiates trade agreements and manages Europe’s multilateral development cooperation. Council of the European Union EU’s main decision-making body, comprised of ministers of 27 Member States, representing Member State’s point of view. Decides on foreign policy issues. Council presidency rotates among Member States every six months. European Commission President José Manuel Barroso 15

European Parliament in session EU Institutions European Parliament Voice of European citizens – members elected for five-year terms. With the Council, passes EU laws and adopts EU budgets. Approves EU Commissioners. European Parliament in session 16

Maastricht Treaty The Treaty on European Union, signed in Maastricht on 7 February 1992, entered into force on 1 November 1993. The collapse of communism in Eastern Europe and the reunification of German made the European countries want to reinforce the Community's international position. Also, the Member States wished to continue the success of the European Commounity. With the Treaty of Maastricht, the Community went beyond its original economic objective, i.e. creation of a common market, and its political ambitions came to the fore. The Treaty of Maastricht has five key goals: * strengthen the democratic legitimacy of the institutions; * improve the effectiveness of the institutions; * establish economic and monetary union; * develop the Community social dimension; * establish a common foreign and security policy.

Maastricht Treaty and Human Rights SOCIAL PROTOCOL * promotion of employment; * improvement of living and working conditions; * adequate social protection; * social dialogue; * the development of human resources to ensure a high and sustainable level of employment; * the integration of persons excluded from the labour market. CITIZENSHIP One of the major innovations established by the Treaty is the creation of European citizenship over and above national citizenship. Every citizen who is a national of a Member State is also a citizen of the Union. This citizenship vests new rights in Europeans, viz.: * the right to circulate and reside freely in the Community; * the right to vote and to stand as a candidate for European and municipal elections in the State in which he or she resides; * the right to protection by the diplomatic or consular authorities of a Member State other than the citizen's Member State of origin on the territory of a third country in which the state of origin is not represented; * the right to petition the European Parliament and to submit a complaint to the Ombudsman.

A Dynamic Transatlantic Economy EU and U.S. together account for 40% of total global trade (more than $1.5 billion in transatlantic trade every day). The $3 trillion EU-U.S. transatlantic economy employs 14 million workers on both sides of the Atlantic. In 2005, Europe accounted for roughly two- thirds of total global investment flows into the U.S. – by far the most significant source of foreign investment in the U.S. economy. 19

European companies are the leading foreign investors in the U.S. The UK, Germany, France, and the Netherlands – top four sources of jobs created by foreign investment in the United States. American companies invest far more in EU countries than in Asia. U.S. businesses make 5 times the profit in the Netherlands - alone - as they make in China. In 2005, EU investments in Texas alone surpassed all U.S. investments in China and Japan, combined. BMW’s assembly plant is South Carolina’s largest private sector employer. 20