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
Mar
18
2024
European Union | EU Council Moves to Suspend Visa Free Travel for Third Countries Berry Appleman & Leiden
Mar
18
2024
Cadwalader Climate (March 18, 2024) Cadwalader, Wickersham & Taft LLP
Mar
18
2024
Cadwalader Climate (March 11, 2024) Cadwalader, Wickersham & Taft LLP
Mar
18
2024
A Worldwide First in AI Legal Developments: The European Union’s 2024 Artificial Intelligence Act Miller Canfield
Mar
18
2024
Global AI Regulation: Europe Takes Momentous Action To Manage AI Barnes & Thornburg LLP
Mar
18
2024
ECHA Clarifies Next Steps for PFAS Restriction Proposal Bergeson & Campbell, P.C.
Mar
18
2024
DSGVO-Auskunftsrecht: Europäische Aufsichtsbehörden starten koordinierte Prüfaktion McDermott Will & Emery
Mar
15
2024
EU Artificial Intelligence Act – EU Parliament Adopts Groundbreaking Regulatory Framework Greenberg Traurig, LLP
Mar
15
2024
ELTIF 2.0 – European Commission Proposes Amendments to the ESMA Draft RTS Proskauer Rose LLP
Mar
14
2024
A Must-Read on Legal Privilege K&L Gates
Mar
14
2024
Liquidity Management, Loan Origination and Credit Funds under AIFMD II Cadwalader, Wickersham & Taft LLP
Mar
14
2024
CJEU Rules That Oral Disclosure May Be Considered as Processing of Personal Data Under the GDPR Hunton Andrews Kurth
Mar
14
2024
Draft European Commission Proposal May Significantly Impact Plastic Food-Contact Materials Keller and Heckman LLP
Mar
13
2024
Commission Adopts European Defence Industrial Strategy Proposing Additional Funding for Defence Responsiveness K&L Gates
Mar
13
2024
European Parliament Approves the AI Act Hunton Andrews Kurth
Mar
13
2024
Europe: Why Are Firms Currently Focusing on Derivatives Post Trade Reporting? K&L Gates
Mar
11
2024
Competition Currents | March 2024 Greenberg Traurig, LLP
Mar
11
2024
EUROPE: ELTIF 2.0 Regime Goes Live in Ireland K&L Gates
Mar
9
2024
Securing EU trademarks: because EUIPO publication ≠ enforceability Squire Patton Boggs (US) LLP
Mar
8
2024
Cascading Security Cadwalader, Wickersham & Taft LLP
Mar
8
2024
CJEU Rules on IAB Europe’s Transparency and Consent Framework Hunton Andrews Kurth
Mar
8
2024
EDPB Versus Ireland? Does the Opinion on “Main Establishments” Mean the End of the GDPR “One-stop Shop” Mechanism? Squire Patton Boggs (US) LLP
Mar
7
2024
The BR Privacy & Security Download: March 2024 Blank Rome LLP
Mar
7
2024
The European Parliament Adopts New Measures on Banks Requirements to Hold Loss Absorption and Recapitalisation Instruments in the Event of a Resolution Requirement Cadwalader, Wickersham & Taft LLP
Mar
6
2024
UK Tax Round Up February 2024 Proskauer Rose LLP
Mar
5
2024
Regulation Round Up – February 2024 Proskauer Rose LLP
Mar
4
2024
Brussels Regulatory Brief: February 2024 K&L Gates
Mar
2
2024
Global Regulatory Update for March 2024 Bergeson & Campbell, P.C.
Mar
1
2024
European Industries Call for “Bold and Impactful” Biotechnology and Biomanufacturing Initiative Bergeson & Campbell, P.C.
Mar
1
2024
European Commission Investigates Chinese State-backed Company’s Participation in a European Tender Using New Powers Under the Foreign Subsidies Regulation Squire Patton Boggs (US) LLP
Mar
1
2024
EDPB Launches Coordinated Enforcement Framework on Right of Access Hunton Andrews Kurth
Feb
29
2024
UK Signs Hague 2019: New Clarity For Enforcement Of Choice Of Court Clauses In Finance Documents Proskauer Rose LLP
Feb
28
2024
DPA 101: Do You Know Where Your Data Is? Sheppard, Mullin, Richter & Hampton LLP
Feb
27
2024
EDPB Provides Guidance on Determining Primary Supervisory Authority Sheppard, Mullin, Richter & Hampton LLP
Feb
27
2024
EU Digital Services Act in Full Force Squire Patton Boggs (US) LLP
Feb
26
2024
European Union Digital Services Act: New Regulations Apply Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
Feb
26
2024
February 2024 ESG Policy Update - Australia K&L Gates
Feb
26
2024
Western Governments Impose Range of New Russia Sanctions with Focus on Sanctions Evaders Cadwalader, Wickersham & Taft LLP
Feb
26
2024
European Commission to Establish AI Office Hunton Andrews Kurth
Feb
25
2024
EDPB Adopts Opinion on the Notion of Main Establishment Hunton Andrews Kurth
Feb
23
2024
ECHA Begins Public Consultation on Recommending Authorization for Five SVHCs and Adding a New Hazard to DBP Bergeson & Campbell, P.C.
Feb
22
2024
The EU Adopts a Directive Amending MiFID II and MiFIR on Data Transparency, the Consolidated Tape and Payment for Order Flow Cadwalader, Wickersham & Taft LLP
Feb
22
2024
ChatGPT Violates EU Privacy Rules According to Italian Watchdog Katten
Feb
21
2024
Unveiling the New EU Foreign Investment Regime Squire Patton Boggs (US) LLP
Feb
19
2024
Regulation: European Council Declines to Mandate that Director Care Obligations Require Consideration of Sustainability Matters Cadwalader, Wickersham & Taft LLP
Feb
19
2024
The European Commission Announces Five New Initiatives in Its Economic Security Package K&L Gates
Feb
16
2024
Forced Labor Legal Developments in Europe: EU Council and Parliament Negotiate Final Text for Proposed Regulation Squire Patton Boggs (US) LLP
Feb
15
2024
Disclosure: UN Report on Net-Zero and Greenwashing Cadwalader, Wickersham & Taft LLP
Feb
15
2024
Greenwashing: European Regulators Launch Joint Consultation on Greenwashing Cadwalader, Wickersham & Taft LLP
Feb
15
2024
Cadwalader Climate Cadwalader, Wickersham & Taft LLP
 

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