Page 403 - SSB Interview: The Complete Guide, Second Edition

European Commission: Driving force, executive body and guardian of
treaties.

Court of Justice: Ensures compliance with the law.

Court of Auditors: Controls the sound and lawful management of the

EU budget.

In addition, there are five more important bodies.

European Economic and Social Committee: Expresses opinions of

organised civil society on socio-economic issues.

Committee of the Regions: Expresses the opinions of regional and
local authorities.

European Central Bank: Responsible for the monetary policy and for

managing the Euro.

European Ombudsman: Deals with citizens’ complaints about

maladministration by any EU institution or body.

European Investment Bank: Helps achieve EU objectives by financing
investment projects.

The EU’s Clout: As a unit, the EU has much more economic, social,

technological, commercial and political clout than individual efforts of its
members. The EU has built a single market and launched a single European
currency: the Euro. It is seen as a leading trade power in the world. It has

also done commendable work in environment and wildlife protection.

Background of the EU

Maastricht Treaty

This treaty was signed on 11 December 1991, by twelve countries of the
European Community (EC) to form a political and monetary union. The
treaty came into force from 1 November 1993, after its ratification by

member countries. The emergence of the European Union is seen as one of
the greatest historic events of that century. It is argued that the quest for unity