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Samenvatting - Business In The European Union
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- Universiteit Antwerpen (UA)
This is a full summary of the course: Business in the EU (text on slides, course notes, answers to questions on the slides).
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Samenvatting: Business in the EULes 1: Introduction and EU Foundational Principles and Institutions and Brexit Part 1
• Do you know where did the EU come from?
The European Union (EU) was formed as a result of the Treaty of Rome, signed on March 25, 1957,
by six countries: Belgium, Germany, France, Italy, Luxembourg, and the Netherlands. The EU began
as the European Coal and Steel Community, with the aim of creating a common market for coal and
steel among these six countries.
• What are the Institutions?
The Institutions of the European Union are
1) The European Parliament
2) The European Council
3) The European Commission
4) The Court of Justice of the European Union
5) The European Central Bank
6) The European Court of Auditors.
These institutions are responsible for making and implementing EU policies, laws, and decisions.
• What does the European Union want to achieve?
The European Union wants to achieve several objectives, including promoting peace, security, and
prosperity in Europe, advancing economic and social progress, protecting the rights and interests of
EU citizens, and promoting democracy and human rights.
• Do you know any major achievements of the EU?
The EU has achieved several major accomplishments, including the establishment of a single market
with the free movement of goods, services, capital, and people, the creation of a common currency
(the Euro), and the expansion of the EU to include 28 member states.
• What do you know about the different EU nationalities
The European Union is made up of 27 member states. These countries include Austria, Belgium,
Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece,
Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal,
Romania, Slovakia, Slovenia, Spain, and Sweden.
• What is the Brexit?
Brexit is the term used to describe the United Kingdom's decision to leave the European Union. The
UK held a referendum on EU membership in 2016, and 52% of voters chose to leave the EU. After a
period of negotiation, the UK officially left the EU on January 31, 2020, and a transition period ended
on December 31, 2020, after which the UK became a third country to the EU.
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,CHALLENGE: THE COMPLEXITY OF EUROPE’S ENVIRONMENT
✓ 27 member states + 24 official languages
✓ North vs south + East vs west
✓ Regional seperatism
(= Regional separatism refers to the political or social movement in which a particular region
within a country seeks to become independent from the central government or to form a
separate sovereign state. This movement usually stems from the belief that the region has a
distinct culture, language, history, or identity that is not adequately represented or protected
by the central government. For example Catalonia is not Spain.)
There are 7 EU candidate countries: Turkey, Montenegro, Northern Macedonia, Serbia, Albania,
Ukraine, Moldova and Bosnia-Herzegovina.
Political Economy in the EU = Single European Market (SEM)
• Political system: system of government of a nation.
• For example, individualist/collectivist OR democratic/totalitarian.
• Totalitarian = A totalitarian political system is a type of government in which the state
exercises complete control over all aspects of society, including the economy, culture,
media, and even individuals' thoughts and behaviors. In a totalitarian system, there is no
distinction between the government and the ruling party, and individual rights and
freedoms are often suppressed or eliminated entirely. The government typically uses
propaganda, censorship, and repression to maintain its control over the population, and
dissent or opposition is not tolerated. (For example North Korea or Nazi Germany)
• Economic system: Market/command/mixed economy
• Command economy (= centraal geleide economie of geplande economie)
In a command economy, the government controls all aspects of the economy, including
setting prices, determining production levels, and allocating resources.
• Market economy = A market economy is an economic system in which the production,
distribution, and pricing of goods and services are determined by the interactions of
buyers and sellers in a competitive market.
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, • Legal system: System of rules that regulate behavior along with the processes by which the
laws are enforced.
• Common law system = Stelsel van gewoonterecht
A common law system is a legal system that is based on the principles of judge-made
law. In a common law system, legal principles and precedents are established by judges
in court decisions, rather than by legislative statutes or regulations. These legal principles
are applied to future cases with similar facts and legal issues, creating a body of common
law that evolves over time. Common law systems are often associated with countries
that have a history of British colonialism, such as the United Kingdom, Canada, Australia,
and the United States
• Civic law system = Stelsel van burgerlijk recht
The civil law system, also known as the continental law system, is a legal system that is
based on written laws and codes rather than judicial decisions. In a civil law system, the
laws are typically codified in comprehensive legal codes, which are enacted by a
legislature or other governing body. Judges in a civil law system are primarily responsible
for interpreting and applying these laws to individual cases, rather than creating new
legal principles through case law. Civil law systems are commonly found in countries that
have a history of Roman law or Napoleonic law, such as France, Germany, Italy, and
Japan. In these countries, the legal system is typically divided into several branches,
including civil law, criminal law, and administrative law.
• Theocratic law system = Theocratisch rechtssysteem
A theocratic legal system is a system of law in which religious law and values are the
primary source of law and the government is based on religional principles. In a
theocratic legal system, religious leaders or authorities hold significant power in the legal
and political spheres. Theocratic legal systems are typically associated with countries
that have a strong religious tradition, such as Iran, Saudi Arabia, and Vatican City. In
these countries, religious law may be codified and enforced by the government, and
religious leaders may hold positions of political power or have significant influence over
the government.
5 Reasons why the knowledge of Culture and Political Economy is so important:
1) Understanding cultural differences: Cultural values, beliefs, and norms can affect the way
people view and participate in economic and political activities.
2) Enhancing cross-cultural communication: By understanding different cultural perspectives,
individuals and organizations can avoid misunderstandings and work effectively with people
from diverse backgrounds.
3) Informing international business and trade: Different cultures have unique business practices
and protocols, and understanding these differences can help businesses navigate the
complexities of international trade.
4) Advancing global development: By understanding the unique cultural, economic, and political
contexts of different regions, development programs can be tailored to specific needs and be
more effective in promoting sustainable development.
5) Improving international relations: By understanding different political and economic systems,
countries can work together to address common challenges and promote mutual prosperity.
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, Diversity in the EU:
• Population with 24 different languages
• Gross average monthly wages
• GDP: Gross Domestic Product
• GDP = It represents the total monetary value of all goods and
services produced within a country's borders during a specific period,
typically a year. It is calculated by adding up the value of all final goods
and services produced within a country, including consumer goods,
business investment, government spending, and net exports
Europe’s Motto: “United in Diversity”
Why does the EU exist?
France and Germany are the driving source of the EU. After the second world war they agreed to
combine their economies. Belgium, The Netherlands, Luxemburg and Italy joined them. In 1951 they
set up a common market for coal and steal. They would persue the following aims: long-term peace,
strong democracy and economic revival in Europe. By 2013, they EU had grown to 28 member states.
In 1993 they introduced the Single European Market. By 2002 they introduced the Euro and took the
first steps to a common foreign policy. Currently, the EU consists of 27 member states. The historical
roots of the European Union were laid in the Second World War. Europe wanted to end the
numerous bloody wars between neighbours because about 3% of the 1940 world population died.
We now know that the recovery of the ongoing war between Russia and Ukraine will take decades.
A peaceful Europe
• 1946: Winston Churchill called for a "kind of United States of Europe"
• 1948 Marshall plan = European recovery plan
The Marshall plan was a US initiative to aid Western Europe in rebuilding and reviving their
economies after World War II. The plan was named after Secretary of State George Marshall. The
devastation of World War II had left much of Western Europe in ruins and facing severe economic
hardships. The Marshall Plan aimed to provide financial assistance to these countries to help them
rebuild and recover. The program offered aid to 16 countries. The Marshall Plan provided around $13
billion in aid over a four-year period from 1948 to 1952. The funds were used to rebuild
infrastructure, increase production capacity, and improve technology and industrial practices.
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