Economy of the European Union
- Environmental taxes: Definition, inventory
- Existing environmental taxes
- Environmental taxes: An effective tool?
- An effective tool under certain conditions
- Recommendations for future action
The economic policies of the European Union are framed by the 'institutional triangle'; the triangle consists of the Council of the European Union, the European Commission and the European Parliament. These are responsible for making policies and taking decisions. These, in turn, are supposed to build the economic system of the EMU. The policies of the European Union, ensuring free movement and free competition, are taken care of by the Commission.
The European Commission, which aims to gradually remove regulatory barriers, also administers policies related to the industry sector, such as competition policies and trade policies. Another example of the Commission's role is the plan prepared under the Barroso Commission in 2005. The European industrial policy of the 21st century was a pro-active step to dampen the shocks linked to deindustrialization. The Committee was also asked to organize the R&D policy for the Lisbon Strategy of 2000. The Commission also acts in favor of innovation, by organizing a 'European Research Area' and installing a 'European Agency for Science and Research'.
To fulfill all its missions, the Community institutions have a relatively low budget: the total budget of 100 billion, i.e., only 1.5% of the European GDP. This budget is heavily burdened by the expenses related to the CAP (45%) and those related to the integration of new entrants (20%). In addition, EU funds are unstable because they are strongly affected by the weak growth rate in Europe today (GNP contribution =70%, while the resource = 15% VAT and own resources =15%).
Coordination of the national economic policy is conducted as part of the "Ecofin Council". It aims to both support growth and enhance resilience to shocks in the euro zone through policies of automatic stabilizers coordinates.
Tags: EU economic policies, European Community Budget, Barroso Commission
an 'European Agency for Science and Research'.