5.3

• What is an example of a regional organization?

  European Union (EU)
• What does regionalism refer to?

  Political power influence in specific geographic regions
• What is another term for regional organizations?

  Block
• What unites members of a regional organization?

  Shared goals, incentives, interests, or aims
• What treaty aimed for greater cooperation in the EU?

  Treaty of Maastricht
• What significant event occurred with the Treaty of Nice in 2003?

  Admission of 10 new members
• What is the role of the European Parliament?


  One of acts as a co-legislator, sharing with the Council the power to adopt and amend legislative proposals and to decide on the EU budgetthe key institutions of the EU
• How many key institutions does the EU have?

  6 key institutions
• Name one key EU institutional frameworks

  The European Commission

  The EU Council

  The European Parliament

  The European Council

  The European Central Bank

  The European Court of Auditors.

  The Court of Justice of the European Union

  
  
• What is the function of the European Court of Justice?

  To interpret EU law
• What is the role of the European Central Bank?

  To manage the Euro and monetary policy
• How many members does the EU currently have?

  27 members
• What is a significant feature of the EU's economic community?

  Free movement of goods, capital, services, and people
• What is the single currency used in the EU?

  Euro
• What is meant by the single market in the EU?

  Common market working towards economic integration
• What treaty established the common market in 1957?

  Treaty of Rome
• What was a requirement for the EU to work towards a single market?

  Cutting out public banks built into institutions
• What are the core values promoted by the EU?

  Freedom, improvement, and action
• What institution does the European Parliament become part of?

  Council