European Union

The European Union is a political and economic union, which before the Brexit-Split had 28 members. The Union currently has 27 member states, after the United Kingdom split in 2017. The EU has developed an internal, single-market, as guided by standardized laws governing the 27-member states.

Free movement of people, goods, transportation, services, and capital is the primary goal behind the EU policies within its internal market system. Policies also aim to maintain common trade policies between member-states, enact legislation, and maintain common policies on agriculture, regional development, and fisheries. The Euro Currency which was established in 1999 and became effective in 2002, is made up of 19 member-states which rely on the internal currency for transactional purposes.

The European Union originally comprised of six states, which were coined the title of the Inner Six. These nations were: Luxembourg, France, Belgium, West Germany, Italy, and the Netherlands. The accession of new member states has helped the EU grow in both size and power. The European Union was established under the Maastricht Treaty and introduced to European citizenship in 1993.

The EU has often been touted as an emerging superpower. In 2012 it received the Nobel Peace Prize, and the EU has had a strong hand in establishing roles in external defense and relations under the Common Foreign and Security Policy. The Union represents diplomatic missions worldwide, representing itself at the World Trade Organization, or (WTO), G7 and G20 summits and the United Nations.

Because it covers such a broad range of member states, the European Union has 24 official languages which it recognizes. All important documents, including legislation, are translated into these languages. Most of the institutions in the EU, including the European Court of Justice and European Central Bank, conduct internal business relying on ‘procedural languages’ to cover the languages spoken by a majority of the member states.

Supranational and intergovernmental decision making in the EU is governed by a hybrid-system. The EU Directives promulgate policy, and then implemented into domestic legislation for member states. There are 7 principle decision making bodies in the EU, which are: the European Council, European Commission, Court of Justice of the European Union, Council of the European Union, European Parliament, European Central Bank, and the European Court of Auditors. The current President of the European Council is Donald Tusk.

In 2016 the EU economy had a GDP of $20 trillion international dollars. Energy, agriculture, banking, and infrastructure, are among the leading economic-drivers of the EU. The Union is soon to be governed under the General Data Protection Regulation (GDPR) after the Brexit-split. This will replace the Data Protection Directive 95/46/EC which previously governed data privacy throughout the member states.

The National Law Review covers news from the EU, including financial banking from MiFID and MiFID II after the Brexit-split. The latest details on member states, governance, the economy, and how the Union will be maintain relations with the UK, are also covered on the National Law Review. Visitors will always find the latest stories, news, legislation, and litigation coming from the European Union. And, with new details on GDPR, and upcoming legislation changes being released daily, the National Law Review provides readers with the latest.

Custom text Title Organization
May
25
2024
Financing a Continuation Vehicle – Lender Considerations Cadwalader, Wickersham & Taft LLP
May
24
2024
EC Scientific Committee Publishes Scientific Advice on Titanium Dioxide Bergeson & Campbell, P.C.
May
24
2024
EDPB Adopts Opinion on Facial Recognition in Airports Hunton Andrews Kurth
May
24
2024
EU/Luxembourg Update on the Regulation on Markets in Crypto-Assets and the Digital Operational Resilience Act K&L Gates
May
23
2024
ESG Update: Three Climate Change Decisions to Watch as the Temperature Rises ArentFox Schiff LLP
May
23
2024
Walking the Tightrope: EU’s Sanctions Enforcement Directive Puts Violators on Notice Sheppard, Mullin, Richter & Hampton LLP
May
22
2024
TECHPLACE™ Talk: The EU AI Act, Part I [Podcast] Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
May
21
2024
Is Your Use of AI in The Workplace Compliant and Guided by Policies? (Germany) Squire Patton Boggs (US) LLP
May
20
2024
European Union Criminalizes Violations of Sanctions McDermott Will & Emery
May
20
2024
First Dawn Raid Carried Out by The European Commission | Another Investigative Tool Deployed Under the Foreign Subsidies Regulation McDermott Will & Emery
May
17
2024
Major European Bank Withdraws From Fossil Fuel Financing Mintz
May
16
2024
CISA Issues Advisory on Black Basta Ransomware Robinson & Cole LLP
May
16
2024
European Parliament Adopts Corporate Sustainability Due Diligence Directive Katten
May
16
2024
Recent Federal Developments for May 2024 Bergeson & Campbell, P.C.
May
16
2024
Kann man den datenschutzrechtlichen Auskunftsanspruch „wegvergleichen“? McDermott Will & Emery
May
15
2024
ESMA’s Final ESG Fund Name Guidelines Proskauer Rose LLP
May
15
2024
Brussels Regulatory Brief: April 2024 K&L Gates
May
14
2024
Europe: ESMA Publishes Guidelines on Fund Names Using ESG or Sustainability-Related Terms K&L Gates
May
14
2024
European Commission Publishes Summary of SFDR Consultation Responses Proskauer Rose LLP
May
13
2024
Hairdryer Treatment from UK Competition Regulators: More Red Cards in the Beautiful Game K&L Gates
May
13
2024
Private Credit Deep Dives – Sponsor “Guarantees” (Europe) Proskauer Rose LLP
May
13
2024
DSGVO-Schadensersatz: Keine Haftung für Unternehmen bei Fehlverhalten Beschäftigter? McDermott Will & Emery
May
9
2024
Buy American and Buy European Robinson & Cole LLP
May
9
2024
A European Perspective on Food Law — A Conversation with Nora von Bergen, LL.M. [Podcast] Bergeson & Campbell, P.C.
May
9
2024
Regulation Round Up April 2024 Proskauer Rose LLP
May
8
2024
In With the New? Not So Fast: The UPC’s First SEP Ruling Aligns With German Precedent Mintz
May
8
2024
EU Corporate Sustainability Due Diligence Directive Over the Line – with Extra-Territorial Reach Proskauer Rose LLP
May
8
2024
Stakeholders Can Express Interest until May 9, 2024, in RAC and SEAC June Meetings on PFAS Bergeson & Campbell, P.C.
May
7
2024
Sustainability First, Antitrust Second? – The EU Commission’s New Rules on Agriculture Cooperations Squire Patton Boggs (US) LLP
May
7
2024
Food & Chemicals Unpacked: Much Ado About TiO2 [Podcast] Keller and Heckman LLP
May
7
2024
Competition Currents | May 2024 Greenberg Traurig, LLP
May
3
2024
From Payment Service Providers to Professional Football Clubs: New EU Regulations to Combat Money Laundering Adopted McDermott Will & Emery
May
3
2024
European Union | Latest Immigration Updates Berry Appleman & Leiden
May
3
2024
London Real Estate Practice Quarterly Legal Update – Spring 2024 Greenberg Traurig, LLP
May
2
2024
Antitrust M&A Snapshot | Q1 2024 McDermott Will & Emery
 

NLR Logo

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up to receive our free e-Newsbulletins

 

Sign Up for e-NewsBulletins