The european union and the euro

2. The European Union
and the euro

3. The European Union
• The purpose: to protect and strengthen the rights and interests of its
members
• It has economic and political policies, laws and institutions

4. Political objectives
• Education
• Foreign affairs and security
• Home affairs and justice
• Culture
• Fishing
• Transport
• The environment
• Agriculture
• Health
• Customs
• Human rights
• Employment
For example: to improve the infrastructure in between member states

5. Economic objectives
• Trade
• Budgets
• Enterprise
• Competition
• The single market
For example: to create jobs and promote economic growth

6. EU symbols
The euro – the currency of the Eurozone
EU flag
The European anthem (Ode to Joy)

7. EU institutions
Council of the EU
• The legislative body of
the EU
• Passes laws, approves
budgets, signs
agreements with non-EU
countries
European Council
• The strategic body
of the EU
• Discusses the
political direction
and strategy of the
EU but has no
powers to make
laws
European Commission
• The executive body
of the EU
• Draws up proposals
for new laws and
spends EU funds
In Brussels (Belgium)

8. European Parliament
• the legislative body
• The members are
directly elected by EU
citizens
• In Strasbourg (France)
Court of Justice of the EU
• the highest court in the EU
• Ensures that all member
states apply EU laws the
same way
• In Luxembourg
(Luxembourg)
European Court of Auditors
• An audit agency
• Investigates how EU tax
payers´money is
invested and presents
audits to the
Commission
• In Luxembourg

9. The euro
• Introduced in 2002
• 7 banknotes (from €5 to €500), 8 coins (from 1 cent to €2)
• The notes look the same but the other side of the coins is country-specific)

10. Euro facts
• The name ‘’euro’’ was chosen by the European Council in a meeting
in Madrid in 1995
• The symbol € is based on a Greek letter
• the two bars across the middle - a symbol of stability
• The notes have watermarks, holograms and security threads to stop
criminals from making counterfeit money

11. Adopting the euro
• The countries of the EU usually adopt the single currency
• The European Central Bank (ECB in Germany) is responsible for
maintaining price stability in the Eurozone

12. A single market
• It means that most of the trade barriers have been removed
• A single currency is one of the steps towards a single market
• The single market in Europe began in 1986
• One common law (concerning trade)
How does a single market work???
• All goods are produced according to the same standards
• All products meet the same technical specifications