European Union: Institutions, Bodies, and Symbols
Symbols of the European Union
The European Union is represented by several key symbols:
- The European flag
- The European anthem
- Europe Day
- The motto: “United in diversity”
- The euro (as the currency)
Main EU Institutions
The European Parliament
The European Parliament has 784 members and a President elected by direct universal suffrage for a period of five years. It is organized into:
- Political Groups: Meetings of deputies based on ideological affinities.
- Committees: Composed of deputies from different political groups to study specific matters (e.g., budgets, agriculture, environment).
Parliamentary Functions
- Legislative: Shares the legislative function with the Council. The most common procedure for approving legislation is the ordinary legislative procedure.
- Budgetary: Approves the EU budget in conjunction with the Council of the European Union and has the final say. Amounts may vary and change spending approved by the Council.
- Democratic Control: Exercises democratic control over the functions of the European Commission.
The European Council
The European Council is composed of the Heads of State or Government of Member States, the President of the European Council, and the President of the European Commission. The European Council meets twice per semester. These meetings set overall EU policy and resolve issues that cannot be resolved at a lower level. The European Council elects its President for a period of two and a half years, which can only be renewed once. The President may not engage in any national mandate.
The Council of the European Union
The Council of the European Union is the main legislative and decision-making body of the EU.
Key Responsibilities
- Approving European laws.
- Coordinating economic policy.
- Concluding international agreements.
- Approving the EU budget.
The European Commission
The European Commission exercises the executive power of the EU and is responsible for implementing the decisions of Parliament and the Council.
Commission Functions
- Proposing legislation to Parliament and the Council.
- Managing EU policies and the budget.
- Enforcing European legislation.
- Representing the EU internationally.
The Court of Justice of the European Union
The Court of Justice of the European Union is responsible for ensuring that EU legislation is interpreted and applied the same way in each member state. The Court has the power to resolve disputes between member states, EU institutions, businesses, and individuals.
The European Court of Auditors
The European Court of Auditors is designed to verify that the EU’s income and expenditure are legal and regular, and to ensure sound financial management.
The European Central Bank (ECB)
The European Central Bank manages the euro and performs economic and monetary policy in the EU.
The objective of the European System of Central Banks is to maintain stable prices in the euro area. Therefore, the ECB authorizes the issuance of the euro and controls the evolution of prices.
Other EU Bodies and Agencies
The European Ombudsman
The European Ombudsman is the agency that receives and investigates complaints from citizens, businesses, and institutions of the EU, and any person residing or having legal domicile in an EU country.
The European Data Protection Supervisor
The European Data Protection Supervisor is responsible for ensuring that the institutions and bodies of the EU respect the right of individuals to privacy in the processing of personal data.
The European Economic and Social Committee
The European Economic and Social Committee is a consultative body representing the various sectors of economic and social life of each country.
Key Functions
- Advises the Council, Commission, and Parliament.
- Encourages civil society to intervene in the drafting of EU standards.
- Promotes the role of civil society in countries outside Europe.
The European Committee of the Regions
The European Committee of the Regions is a consultative body on matters that have an impact on the regions. It consists of regional and local representatives.
The European Investment Bank (EIB)
The European Investment Bank is an independent, non-profit institution that funds projects benefiting the most disadvantaged regions and contributing to the objectives of the EU.
The European Investment Fund (EIF)
The European Investment Fund provides venture capital to small businesses, especially start-ups and those in the targeted technology sector.