THE EUROPEAN UNION: A STATE OR AN INTERNATIONAL ORGANIZATION

Journal Title: Acta Economica - Year 2005, Vol 3, Issue 3

Abstract

The European Union was established on the basis of a treaty between sovereign and independent countries. The origins of the EU could be traced back to the European Community for Coal and Steel, the European Economic Community and the European Community for Atomic Energy, with the idea of creating an international community with certain mutual economic and political interests. The purpose of the aforementioned communities was to provide economic collaboration between the member states so that they could keep pace with the USA and the Eastern block. The economic development was enabled by overcoming political discrepancies, which often drove the European countries into war conflicts in the past. An idea was fermenting, over the course of functioning of the European communities, for these communities to become a strong economic and political community, which eventually took place in Maastricht in 1992. To the existing economic pillar (pillar I), two more pillars were added (pillar II - foreign affairs and pillar III - internal affairs and judicial system). The existing European Communities were thus joined into the European Union, but formally they never stopped to exist in legal terms. Within the EU, there are unique instruments of authority (legislative, executive and judicial), though they function in somewhat specific way; namely, there is no strict borderline between the first two, whereas the judicial authority is independent and separated, as is the case in every sovereign country. The member states remained sovereign, but they delegated some of their sovereignty and authority to the Union, which was arranged by an international treaty. The law of the EU, as community law, is above the legal system of any of the member states. That is why the EU is a real union, close to the system of authority existing in federal states.

Authors and Affiliations

Rajko Kasagić, PhD

Keywords

Related Articles

ETHICAL RESPONSIBILITY OF MANAGERS IN THE GLOBAL ECONOMIC CRISIS

Reconstruction of companies are imminent processes which Serbian managers use in the fight for achieving greater efficiency and competitiveness in the global economic crisis which has affected our organizations. However,...

STATE PROTECTIONISM AS A BARRIER TO COUNTRIES’ CRISIS RECOVERY

Decline in world trade which was caused by the global crisis could cause further drop of production and employment. Because of the positive multiplicative effects of world trade on production growth, recovery of world ec...

Conditions and limitations on investments of small and medium enterprises in intangible assets as a response to the crises of the real sector

Business environment for small and medium size enterprises in Republika Srpska is extremely unfavorable. Lack of entrepreneurial infrastructure as well as legal framework, alongside global financial crisis and crisis of...

INSTITUTIONAL CHANGES AS A FOCTOR ECONOMICS PROSPERITY IN A TRANSITIONAL ECONOMY

Carrying out the institutional transformations which are necessary for efficient functioning of market economy, represente the preferential task for economies in transition. That refers, above all, to guaranteeing the pr...

The Impact of the Asset Structure on the Capital Structure

The capital structure depends on many factors, of which the asset structure is considered to be a primary factor. In accordance with the golden balance rule, companies should harmonize the deadlines of binding assets and...

Download PDF file
  • EP ID EP43581
  • DOI -
  • Views 240
  • Downloads 0

How To Cite

Rajko Kasagić, PhD (2005). THE EUROPEAN UNION: A STATE OR AN INTERNATIONAL ORGANIZATION. Acta Economica, 3(3), -. https://europub.co.uk/articles/-A-43581