The Institutions of the European Union II

Adriana Pietrareanu ()
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Adriana Pietrareanu: Economic College of Buzau

The AMFITEATRU ECONOMIC journal, 2004, vol. 6, issue 16, 92-94

Abstract: In just half a century of existence, the European Union has achieved remarkable things: it has delivered peace for its members and prosperity for its citizens, it has created a single European currency (Euro) and a single market without frontiers where people, goods, services and capital move around freely. The EU has grown from six to twenty-five countries and it is preparing to embrace other two. The EU is not a federation. Its members remain independent sovereign nations but they pool their sovereignty in order to gain a strength and world influence that none of them could have on its own. Pooling sovereignty means, in practice, that the member states delegate some of their decision-making powers to European Institutions they have created, so that decisions on specific matters of joint interest could be made democratically at the European level.

Date: 2004
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