Download European Union Policy on Finance and Trade The EU (European

European Union Policy on Finance and Trade
The EU (European Union) is a politico-economic union which is currently formed from 28 states
that are mainly in Europe. The aims of the union are to establish freedom, security and justice in its
borders, promote economic and social progress, establish European citizenship and assert
Europe's role in the world.
The union is made up from five institutions;
The European Parliament
The Council of the European Union
The European Commission
The Court of Justice
The Court of Auditors.
The European Commission sets objectives and priorities for economic growth, propose
legalization, manage and implement EU policies and their budget and lastly enforce the law when
necessary with the The Court of Justice. To reach its goals in terms of economy, EU has set
policies that cover trade both nationally and internationally.
EU Trade Policy aims,
1. Create a global system for fair and open trade.
The network of agreements and obligations overseen by the World Trade Organization, helps
ensure that trade is open, predictable and fair.
2. Open up markets with key partner countries.
The Commission seeks to create growth and jobs for Europeans by increasing their
opportunities to trade with the world. This is particularly important in the context of current
economic conditions.
3. Make sure others play by the rules.
International trade rules are designed to ensure that trade is fair, it is vital that they are
respected. We represent and defend European interests in the court system of the World Trade
Organization.
4. Ensure trade is a force for sustainable development.
All EU members are committed to actively help people around the world trade their way out of
poverty. Europe has opened its markets to all imports from the world's poorest countries, and
works actively to help developing countries build the capacity to take advantage of trade.
To reach and get reached outside its border EU works with World Trade Organization (WTO). The
WTO sets the global governing trade between its members. The EU is committed to multilateralism
and to be fully committed it acknowledges WTO fully and participates in international trades.
On the other hand EU has also policies on finance. These policies are set by the European
Commission- Financial Services. After the 2008 crisis the commission renewed its policies to
strengthen the financial state of its members.
The new policy on finance;
Aims for a financial sector reform,
Increases the supervision of the financial sector,
To make the sector fair and transparent, works on legislation,
Aims to have genuine banking union in Europe, while fully preserving liberal economy.
Collaborates with other countries to work on global crisis management and ensure a world wide
open financial market.
Resources:
http://ec.europa.eu/finance/index_en.htm
http://ec.europa.eu/trade/policy/