European Union and International Organizations: A Glossary
Single European Act
1986. This was the first modification of the basic treaties of the European Communities. Among its major innovations, it sanctioned the existence of the European Council and strengthened the powers of the European Parliament with the aim of establishing the single market.
World Bank (WB)
An international economic institution born after the Bretton Woods Conference in 1944, with the role of providing credit worldwide, but especially to developing States. It is owned by 185 countries. It consists of two development institutions: the International Development Association (IDA, sometimes called Development or AID). The IBRD focuses on middle-income and creditworthy poor countries, while IDA helps the world’s poorest countries. Both institutions offer low-interest loans, interest-free loans, and grants to developing countries for education, health, infrastructure, communications, etc.
BENELUX
Belgium, Holland, Luxembourg.
EEC (European Economic Community)
Created by the Treaties of Rome (1957), with the aim of achieving a common European market. It was initially formed by West Germany, France, Italy, and the three countries of Benelux. Subsequently renamed the European Union.
European Commission
Since 2005. Composed of one commissioner per Member State. Other features: drafts proposals for new laws and presents them to Parliament and the Council, manages the implementation of common policies (CAP …) and the use of EU funds, ensures compliance with the treaties and Community legislation, and systematically analyzes the potential economic, social, and environmental impacts of new initiatives, which provided consulting the stakeholders concerned and other stakeholders. It meets once a week in Brussels and Strasbourg and may hold extraordinary sessions. The chairman and members of the Commission are appointed for a period of five years, coinciding with the European Parliament’s term.
European Council
With this name is known to meetings of the Heads of State and Government of Member States EU.
EURATOM (Economic Community of Atomic Energy)
A European agency created in Rome (1957) with the treaty that gave rise to the EEC. It was instituted by the same six founding countries of the ECSC and the EEC. The initial goal was the development of a European nuclear industry by creating a common market in nuclear equipment and materials and the establishment of basic standards of safety and security of the population.
IMF (International Monetary Fund)
An international organization that aims to maintain international monetary stability. It grants funds to developing countries in exchange for harsh economic adjustment policies.
ERDF (European Regional Development Fund)
An EU fund aimed at helping the poorest regions through investment in infrastructure and small businesses.
EAGGF (European Agricultural Guidance and Guarantee Fund)
EU funds whose objective is to support the most disadvantaged regions by support for structural improvements.
Cohesion Fund
Established in 1993, it makes financial contributions to projects related to the environment, transport infrastructure, and energy in those EU Member States whose gross national income (GNI) per capita is less than 90% of the EU average, with the aim of reducing their economic and social backwardness and stabilizing their economy.
EU Structural Funds
Funds used to finance activities aimed at reducing the gaps in development between regions.
FORP (Fund for the Management and Regulation of Agricultural Products and Prices)
Its aim was market management by ensuring adequate remuneration for farmers and the purchasing power of consumers.
ESF (European Social Fund)
EU funds aimed at promoting vocational training and jobs.
Globalization, Economic and Cultural
A spontaneous process in nature which is the increasing interdependence and integration of national economies. It is due to the rapid and widespread diffusion of technology in telecommunications and transport, the high mobility of capital, and the establishment of multinationals in all regions of the planet.
Antiglobalization Movement
A network of independent social groups worldwide, formed by activists with different objectives, which are demonstrating against globalization, claiming it leads to unsustainable development and the capitalist neoliberal model.
NUTS (Nomenclature of Territorial Units for Statistics)
Established by the Statistical Office of the European Communities to provide a uniform and consistent division of the territorial division and since 1998 has been used for the allocation of Structural Funds.
OECD (Organization for Economic Cooperation and Development)
An international organization founded in 1961 and headquartered in Paris, comprising 30 countries. Its purpose is to coordinate economic and social policies, based on the independent development of the economic policies of each country.
ILO (International Labour Organization)
A specialized agency associated with the UN and whose functions are related to the promotion of opportunities for decent and productive work in conditions of freedom, equity, security, and human dignity, the continuation of peace and labor rights, and the promotion of dialogue in addressing work-related issues.
WTO (World Trade Organization)
An international institution created to promote global free trade, manage the rules of trade between States, and administer trade agreements negotiated by its members.