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
Jul
24
2024
Can Privacy Be Bought? How Scrutiny of Meta’s Subscription Model Has Wider Implications – PART I Bradley Arant Boult Cummings LLP
Jul
24
2024
EU AI Act Published in the Official Journal of the European Union Katten
Jul
23
2024
Upcoming Changes in Defense Related Procurement: What You Need to Know Womble Bond Dickinson (US) LLP
Jul
23
2024
SEC Commissioner Peirce Critiques ESG Reporting Frameworks Mintz
Jul
23
2024
Europe: European Commission Adopts Delegated Regulations for ELTIF 2.0 and Rejects Key Changes Proposed by ESMA K&L Gates
Jul
22
2024
EC Seeks Applications for Newly Established Technology Council for Advanced Materials Bergeson & Campbell, P.C.
Jul
22
2024
European Union Adopts New Sanctions Against Russia and Belarus K&L Gates
Jul
19
2024
EU Publishes Groundbreaking AI Act, Initial Obligations Set to Take Effect on February 2, 2025 Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
Jul
18
2024
Circular Economy: The European Commission Adopts New Ecodesign Requirements Beveridge & Diamond PC
Jul
18
2024
Understanding the EU AI Act Hunton Andrews Kurth
Jul
18
2024
European UPC Issues Its First Decisions on the Merits McDermott Will & Emery
Jul
16
2024
Recent Federal Developments, July 2024 Bergeson & Campbell, P.C.
Jul
15
2024
Cyber Breach & Climate Change Disclosure Requirements Impacting D&Os Wilson Elser Moskowitz Edelman & Dicker LLP
Jul
15
2024
A Decade of Secondaries: Europe’s Appeal and the Evolution of Specialization [Podcast] Proskauer Rose LLP
Jul
12
2024
AI Act Published in the Official Journal of the EU Hunton Andrews Kurth
Jul
12
2024
The BR International Trade Report: July 2024 Blank Rome LLP
Jul
11
2024
A Data Processing Agreement is Not Always Enough Squire Patton Boggs (US) LLP
Jul
8
2024
ISDA Publishes Framework to Facilitate Close-Out of Derivatives Contracts K&L Gates
Jul
8
2024
Great Expectations! New EU Design Law to Come into Force Soon Squire Patton Boggs (US) LLP
Jul
8
2024
EU Expands Sanctions Regime Against Republic of Belarus After 14th Package of Sanctions on Russia Squire Patton Boggs (US) LLP
Jul
8
2024
Quarterly Sanctions Update | Q2 2024 McDermott Will & Emery
Jul
5
2024
New Data Flow Agreement Between the EU and Japan Enters into Force Hunton Andrews Kurth
Jul
5
2024
European Supervisory Authorities’ Joint Opinion on SFDR 2.0 Proskauer Rose LLP
Jul
5
2024
Regulation Round Up July 2024 Proskauer Rose LLP
Jul
3
2024
European Commission Seeks Feedback on NIS2 Draft Cybersecurity Measures McDermott Will & Emery
Jul
3
2024
EU AI Act’s Opt-Out Trend May Limit Data Use for Training AI Models Greenberg Traurig, LLP
Jul
2
2024
Competition Currents | July 2024 Greenberg Traurig, LLP
Jul
2
2024
Overriding Interest Summer 2024 K&L Gates
Jul
1
2024
Netherlands | EU Blue Card Policy Changes Berry Appleman & Leiden
Jul
1
2024
PFAS and Other Emerging Alleged Contaminants Litigation: Mitigating Risk Through Insurance K&L Gates
Jun
27
2024
AI in Financial Services: Legal Risk Jones Walker LLP
Jun
27
2024
Should There Be a Right to Repair in Fashion? Katten
Jun
27
2024
International Transfers of Personal Data After Schrems II: Practical Compliance Steps Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
Jun
26
2024
European Union | Temporary Protection for Ukrainian Refugees Extended Berry Appleman & Leiden
Jun
25
2024
ECHA Evaluating Function of EUON; Survey Will Close July 3, 2024 Bergeson & Campbell, P.C.
 

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