Summary The Business Dimension of Europe: Business Essentials

Summary
Business
dimension
of
Europe

Sophie
2019/20







Lecture
1



The
European
Union

513
million
people,
28
countries
and
24

official
languages







Pioneers
of
the
European
Union:





Figure
1:
Enlargement
from
6
to
28
countries







Symbols
of
the
EU:

• The
motto:
United
in
diversity

• The
euro

• The
European
flag

• The
European
anthem

• Europe
day
on
the
9th
of
May




















,Figure
2:
population








The
big
enlargement
uniting
east
and
west:

1989
Fall
of
Berlin
wall
and
end
of
communism


EU
economic
help
begins
with
Phare
program



1992
Criteria
set
for
a
country
to
join
the
EU:

• Democracy
and
rule
of
law

• Functioning
market
economy

• Ability
to
implement
EU
laws



1998
Formal
negotiations
on
enlargement
begin



2002
Copenhagen
summit
agrees
to
a
big
enlargement
of
10
new
countries



2004
Ten
new
members:
Cyprus,
Czech

Republic,
Estonia,
Hungary,

Latvia,
Lithuania,
Malta,
Poland,

Slovakia,
and
Slovenia



2007
Bulgaria
and
Romania
join
the
EU



2013
Croatia
joins
on
1st
of
July








Figure
3:
candidate
countries
and
potential
candidates




, The
treaties:

1952
The
European
Coal
and
Steel
Community



1958
The
treaties
of
Rome:

• The
European
Economic
Community

• The
European
Atomic
Energy
Community
(EURATOM)



1987
The
European
Single
Act:
the
Single
Market



1993
Treaty
of
European
Union
–
Maastricht



1999
Treaty
of
Amsterdam



2003
Treaty
of
Nice



2009
Treaty
of
Lisbon





In
2008
there
was
a
worldwide
financial
crisis,
which
started
in
the
US,
and
there

was
a
coordinated
response
from
European
leaders:

• Commitment
to
the
euro
and
to
financial
stability

• New
crisis
management
tools
and
reforms
of
rules

o European
Stability
Mechanism:
fund
to
help
countries
in

extraordinary
economic
difficulties

o New
laws
for
stability
of
banks

o Banking
Union:
EU-­‐wide
supervision
of
banks
and
a
mechanism
to

close
down
failing
banks

• Better
economic
governance

o European
Semester:
annual
procedure
to
coordinate
public

budgets

o Euro+
pact
(fiscal
compact
treaty):
mutual
commitment
to
sound

public
finances





The
growth
of
Europe



2010
EU
leaders
agreed
on
overall
strategy
yo
get
out
of
the
economic
crisis
by

means
of:

• Smart
growth

o Better
education,
more
research,
greater
use
of
communication

technologies

• Sustainable
growth

o A
resource
efficient,
greener
and
more
competitive
economy

• Inclusive
growth

o More
and
better
jobs,
investment
in
skills
and
training,

modernisation
of
the
labour
market
and
welfare
systems,

spreading
the
benefits
of
growth
to
all
parts
of
the
EU

• Good
economic
governance

o Better
coordination
of
economic
policy