Economy of the European Union Economy of the European Union The Common Agricultural Policy (CAP) is a system of European Union agricultural subsidies which represents about 44% of the EU's spending (€43bn scheduled spend for 2005 ** ). These subsidies work by guaranteeing a minimum price to producers and by direct payment of a subsidy for crops planted. This provides some economic certainty for EU farmers and production of a certain quantity of agricultural goods. Reforms of the system are currently underway including a phased transfer of subsidy to land stewardship rather than specific crop production from 2005 to 2012. Detailed implementation of the scheme varies in different member countries of the EU. ...more on Wikipedia about "Common Agricultural Policy"
The Common Fisheries Policy (CFP) is the fisheries policy of the European Union. It sets quotas for which member states are allowed to catch what amounts of each type of fish, as well as encouraging the fishing industry by various market interventions. In 2004 it had a budget of €931 million, approximately 0.75% of the EU budget. ...more on Wikipedia about "Common Fisheries Policy"
The European Union's Economic and Social Committee is the consultative assembly of European "social and economic partners". This phrase refers mainly to representatives of business, employers and trade unions. ...more on Wikipedia about "Economic and Social Committee"
On average, the unemployment rate of the European Union is at 8.9%. In comparison to both the United States and Japan this is high. Unemployment varies by member state, the lowest rate is in Ireland with 4.3% whilst the highest is in Poland with 18.1%. The average for the 12 Eurozone members is also 8.9%. Unemployment also varies significantly in member states. ...more on Wikipedia about "Economy of the European Union"
The Energy Community South East Europe Treaty (ECSEE) signed in Athens, Greece on 25 October 2005. ...more on Wikipedia about "Energy Community South East Europe Treaty"
The euro (symbol: €; banking code: EUR) is the currency of twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, the Republic of Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain, collectively known as the Eurozone. ...more on Wikipedia about "Euro"
The European Economic Area (EEA) came into being on January 1, 1994 following an agreement between the European Free Trade Association (EFTA) and the European Union (EU). It was designed to allow EFTA countries to participate in the European Single Market without having to join the EU. ...more on Wikipedia about "European Economic Area" www.shortopedia.com never sleeps. Economy_of_the_European_Union
The European Investment Fund, established in 1994, is a European Union agency for the provision of finance to SMEs (small and medium-sized enterprises). ...more on Wikipedia about "European Investment Fund"
The European Monetary System 2 or EMS-2 was launched on January 1, 1999. In EMS 2 the ECU basket is being discarded and the new single currency euro has become an anchor for the other currencies participating in the ERM 2. Participation in the ERM 2 is voluntary and the fluctuation bands remain the same as in the original ERM, i.e. +15 %, once again with the possibility of individually setting a narrower band with respect to the euro. New members became Denmark and Greece. The EMS-2 is seen as a means to eventually join the European Monetary Union. ...more on Wikipedia about "European Monetary System 2"
The European Union (EU) has an independent parliament and civil service which is distinct from those of the 27 member states. It administers common laws between the member states and expenditure on common policies throughout the EU. To pay for this the EU has an agreed budget of €862 billion for the period 2007-2013. By comparison, the UK expenditure for 2004 was estimated at about €759 billion. ...more on Wikipedia about "European Union Budget"
The Regional policy of the European Union is a policy with the stated aim of improving the economic well being of certain regions in the EU. ...more on Wikipedia about "European Union Regional policy"
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). It is a weighted average of price indices of member states in order to show what the consumer price index does but for all of Eurozone. One goal of the ECB in fighting to keep price stability is to keep the HICP below 2% for the medium term. In order to do that the ECB can control the short term interest rate through Eonia, the European over night index average, which affects market expectations. ...more on Wikipedia about "Harmonised Index of Consumer Prices"
The Lisbon Strategy, also known as the Lisbon Agenda or Lisbon Process, is an action and development plan for the European Union. It was set out by the European Council in Lisbon on March 2000. ...more on Wikipedia about "Lisbon Strategy"
Livigno is a town in the Alps. It belongs to the Province of Sondrio, the region of Lombardy, Italy. ...more on Wikipedia about "Livigno"
The Stability and Growth Pact is an agreement by European Union member states related to their conduct of fiscal policy, to facilitate and maintain Economic and Monetary Union of the European Union. ...more on Wikipedia about "Stability and Growth Pact"
Trepalle is the highest inhabited village in the Alps. Politically it is part of the comune of Livigno and thus it is a duty-free area. It is considered the village at Europe's highest altitude. ...more on Wikipedia about "Trepalle"
The UK rebate is a rebate on the UK's contribution to the EU budget paid back to the UK government by the European Union. ...more on Wikipedia about "UK rebate"
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