The document provides an overview of the European Union (EU). It discusses that the EU is an economic and political union of 28 European countries established in 1993. It has seven governing institutions and the eurozone monetary union of 17 countries. The EU has faced economic crises but remains a major global trading power. Key topics covered include governance, funding, agriculture, employment, challenges and opportunities.

1. EUROPEAN UNION
Project prepared
and presented by :
Amrita Dutta
Jinia Biswas
Shruti Jain
Smarajit
Kundu
Sriparna
Chakrabarty

2. INTRODUCTION
• The European Union is an economic and political union
of 28 member states that are located primarily in
Europe.
• Founded: November 1, 1993
• Unemployment rate: 11.0% (Sep 2013) Eurostat
• Government debt: 85.2% of GDP (2012) Eurostat
• Broadband penetration: 26.50 connections per 100
inhabitants (Jan 2011) Eurostat
• Founders: France, Belgium, Luxembourg, Italy, Nether
lands, Germany
• Awards: Nobel Peace Prize

3. • Operating as a single market with 28 countries, the
EU is a major world trading power.
• EU economic policy seeks to sustain growth by
investing in transport, energy and research – while
minimising the impact of further economic
development on the environment.
• The EU's economy — measured in terms of the goods
and services it produces (GDP) — is now bigger than
the US's: EU GDP in 2012: €12 945 402 million

5. GOVERNANCE
• The European Union has seven institutions:
the European Parliament, the Council of the
European Union, the European
Commission, the European Council,
the European Central Bank, the Court of
Justice of the European Union and
the European Court of Auditors

6. EUROZONE
• The eurozone, a monetary union, was established in 1999 and
came into full force in 2002.
• It is currently composed of 17 member states that have
adopted the euro (€) as their common currency and sole legal
tender.
• Monetary policy of the zone is the responsibility of
the European Central Bank (ECB) which is governed by a
president and a board of the heads of national central banks.
• The principal task of the ECB is to keep inflation under
control.
• The eurozone has established and used provisions for granting
emergency loans to member states in return for the enactment
of economic reforms.

7. EUROZONE CRISIS
• The Eurozone crisis (often referred to as the Euro crisis) is
an ongoing crisis that has been affecting the countries of the
Eurozone since late 2009. It is a combined government
debt crisis, a banking crisis and a growth and competitiveness
crisis.
• The crisis made it difficult or impossible for some countries in
the eurozone to repay or refinance their government
debt without the assistance of third parties.
• Moreover, banks in the Eurozone are undercapitalised and
have faced liquidity problems.
• Additionally, economic growth is slow in the whole of the
Eurozone and is unequally distributed across the member
states.

8. TRADE
• With just 7% of the world’s population, the EU's trade
with the rest of the world accounts for around 20% of
global exports and imports.
• Around two-thirds of EU countries’ total trade is done
with other EU countries.
• Trade has been hit by the global recession, but the EU
remains the world’s largest player accounting for 16.4%
of global imports in 2011. The EU is followed by the
United States with 15.5% of all imports, and China
with 11.9%.
• The EU was also the biggest exporter, accounting for
15.4% of all exports – compared with 13.4% for China
and the 10.5% for the United States.

10. Trading Partners

12. • The EU spends around 6% of its annual budget on staff,
administration and maintenance of its buildings.
• The European Commission is divided into departments
known as Directorates General (DGs), roughly equivalent to
ministries. Each covers a specific policy area or service
such as trade or environment, and is headed by a Director-
General who reports to a Commissioner. Around 38 000
people are employed by the European Commission.
• In the European Parliament, around 6 000 people work in
the general secretariat and in the political groups. They are
joined by Members of Parliament and their staff. In the
Council of the European Union, around 3 500 people work
in the general secretariat.
EU ADMINISTRATION

13. • The EU provides funding and grants for a
broad range of projects and programmes
covering areas such as:
• Education
• Health
• Consumer Protection
• Environmental Protection
• Humanitarian Aid.
EU FUNDING

14. • Grants for specific projects, usually following a public
announcement known as a 'call for proposals'. Part of the
funding comes from the EU, part from other sources.
• Public contracts to buy services, goods or works to
ensure the operations of EU institutions or programmes.
Contracts are awarded through calls for tenders (public
procurement) and cover a range of areas: studies, technical
assistance and training; consultancy, conference
organisation, IT equipment purchases, etc.
• As a group, the 28 EU Commissioners have the ultimate
political responsibility for ensuring that EU funds are spent
properly. But because most EU funding is managed at
country level, national governments are responsible for
conducting checks and annual audits.
TWO TYPES OF FUNDING

15. • The main aim of the Single Payment Scheme is to support
farmers' incomes in return for them respecting standards of
food safety, environmental protection, animal welfare and
keeping the land in good condition. Farmers are encouraged to
take their decisions based on market signals.
• Specific support schemes have been introduced or maintained
for a number of products. Traders and processors can, under
certain conditions, receive export refunds as well as processing
aid.
• The purpose of market management is to respond to market
disturbances using measures such as intervention buying or
private storage aid or export refunds.
AGRICULTURAL POLICY

16. • Under the Rural Development policy 2007-2013,
the EU will contribute over €90 billion to Member
States investments to improve competitiveness for
farming and forestry, to protect the environment and
the countryside, to improve the quality of life and
diversification of the rural economy.

17. • Stronger surveillance of national budgets
• Sound public finances
• Early warning system of macroeconomic imbalances
• Structural reforms to foster competitiveness
• Firewalls to protect financial stability
POLICIES FOR STABILITY & GROWTH

18. The EU and national governments share
responsibility for policy in the fields of employment,
social affairs and inclusion. The EU:
• Coordinates and monitors national policies
• Promotes the sharing of best practices in fields such
as employment, poverty and social exclusion and
pensions
• Makes laws and monitors their implementation in
areas such as rights at work and coordination of
social security schemes.
EMPLOYMENT & SOCIAL AFFAIRS

19. • Globalisation : As a result of advancing globalisation EU
industry will become even more integrated into international
value chains as global sourcing becomes more complex.
Export markets, particularly the fast-growing economies of
emerging Asia and the BRICs, will remain vital for EU
businesses.
• Technological changes : A variety of radical new
developments are emerging that will lead to the formation of
new goods, services, and business models that will reshape EU
industry. Industry will also be indispensable for finding
solutions to the major societal challenges facing the EU and
the world.
KEY CHALLENGES

20. • Climate and energy : Industry needs also to adapt to the
challenges posed by climate change and to grasp the
opportunities of new low- energy and resource saving
processes and products. The ability to adapt to changes
will be pivotal for the competitiveness of the European
manufacturing and for achieving the EU's overall growth
and job objectives.
• Competitiveness analysis : It pays special attention to
the following issues:
• regulatory framework
• position of sectors in the international trade
• role of research, development and innovation,
knowledge and skills, environmental issues, competition
etc.

21. • Revolving Door : The so-called “revolving door”, or
when public sector officials move into private sector
jobs and vice-versa, is becoming more of an issue in
the European Union with every year. The primary
concern in these cases is the tendency for conflicts of
interest to arise, in other words, the abuse of inside
knowledge attained by these persons while in public
office. The issue with the revolving door in regards to
the European Union begins when lobbyists or
Brussels officers commute between EU institutions
and companies without regard to conflicts of interest

22. • The European Union (EU) has the potential to play a
leading role in the provision of Global Public Goods.
Although the EU has played a key role in the
provision of GPGs, notably on climate policy and
food security, it lacks a common strategy for
addressing GPG challenges. The EU needs to adapt to
the changing global landscape, improve its internal
coherence and promote a global vision and
development approach with common narratives on
the challenges that need to be tackled.
OPPORTUNITIES

23. • China is making an attempt to secure business ties in a
region where the European Union and Russia are
increasingly jostling for influence. Analysts say the Asian
economic power is interested in energy and raw materials to
fuel its economy and in cheap labor at a time when wages
are rising at home. Coupled with a strengthening national
currency, China's growing labor costs risk crimping its
exports, its traditional economic strength.
• Google Inc. gave European Union regulators a new
proposal to settle an almost three-year-old EU antitrust
probe into the way it operates its search services. In addition
to fining companies for antitrust violations, the European
commission may impose orders to change the way firms
operate .

24. • In 2012 the EU had a combined GDP of 16.073
trillions international dollars, a 20% share of the global gross
domestic product (in terms of purchasing power
parity).[According to Credit Suisse Global Wealth Report 2012
(September), the EU owns the largest net wealth in the world;
sit is estimated to equal 30% of the $223 trillion global wealth.
• Of the top 500 largest corporations measured by revenue
(Fortune Global 500 in 2010), 161 have their headquarters in
the EU. In 2007, unemployment in the EU stood at 7% while
investment was at 21.4% of GDP, inflation at 2.2%, and
current account balance at −0.9% of GDP (i.e., slightly more
import than export). In 2012, unemployment in the EU stood,
per August 2012, at 11.4%.s
CONCLUSION

25. • www.europa.eu
• www.wikipedia.org
• www.economictimes.com
• www.google.com
BIBILIOGRAPHY

26. Thank You

27. http://www.unitedworld.edu.in/
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