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70 Cards in this Set
- Front
- Back
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WTO Stands for? |
WORLD TRADE ORGANIZATION |
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RTA stands for? |
REGIONAL TRADE AGREEMENTS |
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The key characteristic of this agreement is to offer each parties a more favorable treatment in trade than they offer other trading partners |
RTAs (Regional Trade Agreements) |
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GATT stands for |
GENERAL AGREEMENT ON TARIFFS AND TRADE |
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an article that says, duties and other trade barriers should be reduced or removed on all sectors of trade in the FTA or CU. |
Art. XXIV of the GATT |
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CU stands for |
CUSTOMS UNION |
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GATS Stands for? |
GENERAL AGREEMENT ON TRADE AND SERVICE |
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T/F RTAs can often support the WTOs multilateral trading system |
TRUE |
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T/F RTAs should help trade flow LESS freely among the countries in the group with a lot of barriers |
FALSE- MORE FREELY, WITHOUT BARRIERS |
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T/F RTA's should complement the global trading system and not threaten it |
TRUE |
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T/F RTAs often also force change to several areas not fully covered by the WTOs agreement |
TRUE |
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TPP stands for? |
TRANS-PACIFIC ECONOMIC PARTNERSHIP |
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Regional Economic Integration Models Evolution |
Diversified Free Trade Agreements Trans-Pacific Economic Strategic Partnership Agreement (TPP) |
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This is the Modern RTAs, not only linking the most developed economies, but tends to go far beyond tariff-cutting exercises |
DIVERSIFIED FREE TRADE AGREEMENTS |
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-They provide for increasingly complex regulations governing intra-trade - often also provide for a preferential regulatory framework for mutual services trade. |
DIVERSIFIED FREE TRADE AGREEMENTS |
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Trans-Pacific Economic Strategic Partnership Agreement (TPP) was concluded in what year |
2005 |
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Four Pacific countries in TPP (P-4 Agreement) |
Chile, Singapore, Brunei, New Zealand |
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TPP Countries: (9) |
Australia, Brunei Darussalam , Chile New Zealand, Malaysia, Peru Singapore, Vietnam, United States |
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Future countries that may join TPP (5) |
Canada Japan Thailand Philippines Indonesia |
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EU Stands for? |
EUROPEAN UNION |
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this union was created after the world war 2 |
EUROPEAN UNION |
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Founding father of European union |
Winston Churchill Konrad Adenauer Alcide De Gasperi Robert Schuman Jean Monne |
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European Union enlarge from 6 to ______ countries How many countries? |
27 |
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EU was established in what year? |
1951 |
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On what year was the first enlargement of EU? |
1973 |
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On what year was the second enlargement of EU? |
1981 |
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On what year was the third enlargement of EU? |
1986 |
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On what year was the fourth enlargement of EU? |
1995 |
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On what year was the fifth enlargement of EU? |
2004 |
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On what year was the sixth and last enlargement of EU? |
2007 |
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Criteria set for a country to join the EU: (3) |
Democracy and rule of law Functioning market economy Ability to implement EU laws |
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the Summit of the heads of state and government of all EU countries |
The European Council |
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They set the overall guidelines for the EU policies, and dealing with complex or sensitive issues that cannot be resolved at a lower level of the intergovernmental cooperation |
The European Council |
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T/F The European Council has power to pass laws |
FALSE - the EU council has no power to pass laws |
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They are directly elected and is the voice of the EU people for a term of office of five years |
THE EUROPEAN PARLIAMENT |
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T/F The European parliament has a term of 10 years |
FALSE- 5 YEARS |
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It is one of the Eu's main law-making institutions, and decides EU laws and budget together with the Council of Ministers, and supervises all of the Eu's work |
THE EUROPEAN PARLIAMENT |
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T/F THE EUROPEAN PARLIAMENT may dismiss the European Commission and veto applications for entry |
TRUE |
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- The voice of the member states - It is the supreme decision-making body of the EU -Member states are usually represented by foreign affairs ministers - One ministers from each EU country participates in the Council of Ministers - manages the common foreign and security policy |
The Council of Ministers |
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It is the supreme decision-making body of the EU |
The Council of Ministers |
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An EU institution that promotes the common interest |
The European Commission |
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The The European Commission comprises ______ independent members How many? |
27 |
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EU’s executive body and has competence to propose new legislation |
EUROPEAN COMMISSION |
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The common judicial institution of the EU and of the European Atomic Energy Community (EURATOM) |
Court of Justice of the European Union |
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THE THREE COURTS OF EUROPEAN UNION |
i. The Court of Justice ii. The General Court (created 1988) iii. The Civil Service Tribunal (created 2004) |
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When was the General Court created? a. 1988 b. 1958 c. 1969 |
1988 |
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When was the Civil Service Tribunal created? a. 1988 b. 1995 c. 2004 |
2004 |
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primary task is to examine the legality of the EU measures and ensure the uniform interpretation and application of the EU law a. The Court of Justice b. The General Court (created 1988) i c. The Civil Service Tribunal (created 2004) |
Civil Service Tribunal |
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Its tasks includes Interpretation of the EU law to make sure it is applied in the same way in all EU countries |
COURT OF JUSTICE |
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Their task is the Settlement of legal disputes between EU governments and EU institutions; besides, individuals, companies or organizations can also bring cases before the Court of Justice, if their rights have been infringed by an EU institution. |
COURT OF JUSTICE |
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T/F The EU structure has 5 pillars |
FALSE - 3 PILLARS |
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the law concerning economic and social rights a. 1st Pillar b. 2nd Pillar c. 3rd Pillar |
1st Pillar |
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law concerning the EU Common Foreign and Security Policy (CFSP) a. 1st Pillar b. 2nd Pillar c. 3rd Pillar |
2nd pillar |
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laws concerning Police and Judicial Cooperation in Criminal Matters a. 1st Pillar b. 2nd Pillar c. 3rd Pillar |
3rd Pillar |
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T/F European Legislation is divided into 4 legislations |
FALSE - 2 |
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Two divisions of EU legislation |
- PRIMARY LEGISLATION (TREATIES) - SECONDARY LEGISLATION |
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basis or ground rules for all EU action A. PRIMARY LEGISLATION B. SECONDARY LEGISLATION |
A. PRIMARY LEGISLATION |
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includes regulations, directives, decisions, and others, are derived from the principles and objectives set out in the treaties A. PRIMARY LEGISLATION B. SECONDARY LEGISLATION |
B. SECONDARY LEGISLATION |
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the constitutional law of the EU A. PRIMARY LEGISLATION B. SECONDARY LEGISLATION |
A. PRIMARY LEGISLATION |
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legislation of the EU that sets out how the objectives expressed in the treaties (primary legislation) are to be accomplished |
SECONDARY LEGISLATION |
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T/F European Parliament, the European Commission, and the Council of Ministers are empowered by the Treaties to legislate on all matters within the EU’s competence |
TRUE |
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a secondary legislation issued by the European Commission with the Council’s approval is a BINDING legislative act.
a. Regulation b. Directed c. Decision |
Regulation |
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- a secondary legislation issued by European Commission with the Council’s approval - is a legislative act that sets out a goal that all EU member states must achieve, while allowing member states to decide how to achieve the goal
a. Regulation b. Directed c. Decision
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DIRECTED |
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issued by the Court of Justice or European Commission, is binding upon those to whom it is addressed a. Regulation b. Directed c. Decision |
DECISION |
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is not binding, it allows EU institutions to make their views and to suggest a line of action without imposing any legal obligation on those to whom it is addressed
a. Recommendation b. Directed c. Decision
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RECOMMENDATION |
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is not binding, it may be issued by the main EU institutions, the Committee of the Regions, and the European Economic and Social Committee. a. Recommendation b. Opinion c. Decision
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OPINION |
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Which one prevails between EU law and national law? |
EU LAW |
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This law is SUPERIOR to national laws in terms of economic and social policy, and even to member states constitution |
EU LAW |
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a direct effect of the EU law where the member states DO NOT HAVE TO TRANSPOSE a treaty or a regulation into national law, and citizens may sue one another on the basis of this act a. horizontal b. vertical |
HORIZONTAL |
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a direct effect of the EU law where directives allow member states to MAKE SOME CHOICE on how they transpose a directive into national law a. horizontal b. vertical
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VERTICAL |
