Economic Governance by the European Council

Introduction

The European Union consists of a robust institutional framework. It involves several institutions and treaties that give the various institutions different rights and attributions. However, regardless of the institutions, the union's member state works together to accomplish common and agreed goals. The union unites the EU as well as national institutions in a platform that is created and improvised over time. Therefore, EU institutions are the primary sector in the EU system, though state-level institutions also have a great role in the union. Some of the main institution which makes the union includes the council, the Parliament, the court of justice as well as the Commission. However, as per the founding treaties and the Council of ministers have been having some growing role over the years. In this view, this paper discusses why the European Council is the EU's most vital institution.

First, the council has powers to pass European laws. The council works closely with the legislative institution to enact laws. Most of the legislation in the European Union are adopted jointly by the council and the parliament. The council often acts on proposals that originate from the European Commission. The council is, therefore, among the highest political institution in the EU. It unites several political leaders such as the prime ministers and presidents– of the member countries. It also includes European Commission presidents. From the fact that it represents governments of the individual member countries, it has the power to decline or accept certain laws.

Moreover, the council has power over economic governance. It has been responsible for coordinating various national economic reforms. The council has emerged as the principal decision-maker in the Eurozone crisis management. It has been initiating and promoting various legal procedures as well as instruments. It utilizes the ordinary legislative method to establish a fiscal and macroeconomic surveillance system applicable to all member states, which suggests that it is the most significant body of the Eurozone. Therefore, the council has come out as a type of economic government.

The council has power over Foreign policy. Formulation of foreign policy is a primary role of the European Council. In the past decades, the council has approved several statements concerning foreign policy. These policies have been covering global events as well as developments in all fields of diplomacy. Besides, it adopts the appropriate decisions by unanimity. Therefore, it can be said that the European Council operates as a collective head of state. Furthermore, the European council implements the unions’ security and foreign policy. It also acts unanimously while implementing these policies. Therefore, this view makes the council the most powerful body of the EU.

The European Union possesses the power to amend treaties. Heads of states are included in the European council. Yearly, the council concludes various EU treaties as well as agreements between the Non-European countries and EU member states. These treaties cover huge areas like development, cooperation, trade, cooperation, and specific sectors such as fisheries and technology. Heads of government or state have played a great role in negotiating treaties. This began with the negotiation of the Rome treaty. In the past decade, the role of negotiating treaties has become predominant. Therefore, its meetings have become a critical aspect of determining treaty reforms. Besides, the council has the power to amend it as an institution. Furthermore, while amending treaties, the council decides by a simple majority vote. With a positive decision, the European Council presidents convene a convention, unless the European Council decides to give a direct mandate to convene an International Growth Centre. Furthermore, the council has the power to alter the process of decision-making for treaty Articles from unanimity to the qualified majority and legislative procedure. Therefore, this reveals the body as the most powerful due to its designated roles.

The council has power over home and justice affairs. The EU council often deals with matters concerning home and justice affairs. Besides, the Amsterdam Treaty created the foundation of this role by the council. However, there was a special meeting of the European Council, which took place in 1999 in Finland, which established its area of freedom, justice, and security. With the rose in terrorism in the twenty-first century due to massive migration, most heads of state or government had had several meetings concerning this matter. Therefore, recently the European Council had to deal with counter-terrorism and immigration. Therefore, as an institution of political appeal, the council is very powerful.

Conclusion

The European Union has various institutional frameworks. Some of the institution which makes the union includes the council, the Parliament, the commission, and the court of justice. However, the Council of Ministers is the most powerful institution of the European Union. This is indicated by how it is involved in European pass law, its power over Economic governance. Besides, the council is perceived as powerful since it has power over Foreign policy and to Amend Treaties. Furthermore, the council has power over justice and home affairs.

The European Union is a political and economic region that is made up of twenty-seven member states. Its primary location is Europe. Its objectives include promoting peace as well as the well-being of its citizens, creating security, freedom as well as promoting development which is sustainable and developing a highly competitive social market economy. To attain its objective, the union came up with the Ventotene Manifesto, which was created by Altiero Spinelli and Emesto Rossi. The manifesto address the crisis of modern civilization and other things; however, the modern European Union, as per the principles of Ventotene exists in a deeply ambiguous relationship. Furthermore, Mazower reveals that the European Union no longer believes in politics; rather, it lives in the faith of democracy since it’s as allowed capitalism to flourish and its weak stability. This paper, therefore, explains the contradiction of the ventotene principle in today's European union.

From the Ventotene perspective, the federation was a tool to enhance the struggle against poverty as well as inequality. As per the perspective, managed capitalism limits market and property ownership without eradicating capitalism completely. However, with the increase in democracy, some astronomical private fortunes have been created over the last three decades. This has been enhanced via privatizations as well as finance. This has resulted in the emergence of an explosion in a private charitable giving sector, which has transformed philanthropy. The new form of philanthropy has taken active advocacy function hence pushing the society to solve its issues in predetermined methods. These new philanthropists promoted by their own success to create new “social entrepreneurs” globally. Some of the flaws observed in the new philanthropies era include the application of business methods to solve social problems, exaggeration of the role of technology, and wastage of capital. With the establishment of many philanthropist organizations, the European Union, for instance, has started to ignore its role. Most of its role is being taken by philanthropist which is against principles of Ventotene. For instance, foundation such as the Gates Foundation has dominated the research in malaria, thus creating a “cartel” of malaria scholars who validate one another’s study and limit genuine research. Therefore, it is evident that the European Union is neglecting its role and leaving some capitalism to rule most areas.

By the 1960s, it was a prosperity period in Western Europe. There was increased growth of trade, which outstripped that of America. Moreover, the European Community has always been dreaming of making the union more perfect, especially during the 1960s. In the early 1980s, Jacques Delors, France’s finance minister, witnessed the impossibility of creating socialism in one country. This created the need to develop social solidarity in Europe which would accelerate market integrations. Later, the Maastricht Treaty of 1992, as well as the European Act of 1986, were developed. After the end of the cold war, the membership of the European Union doubled and the peaceful integration of many western states which a great achievement. Regardless of these developments, Europe has rarely been just about Europe. For instance, President Recep Erdogan sends Turkish troops to Libya. This is an indication that Europe is not about Europe. Rather, the turkey should have been involved in diplomatic means in Libya. Sending the troops to Libya impact European Union reputation to other states which damage the EU’s interests. Therefore, failure of the European Union to control how some countries react shows a deeply ambiguous relationship to the Ventotene manifesto.

The European Union's objective is to create the well-being of the individual as well as employment opportunities. However, against the Ventotene Manifesto, the labor market has greatly changed over the last years. Individuals are no longer certain of a job. Mazower (2012) suggests that this is not changing any soon; therefore, the society to adapt to. With the automation in the society, individually created loss of a job. Regardless of its benefit, it still shows flaws in the European Union roles.

Conclusion

The European Union is a political and economic organization that is aimed at promoting peace as well as the well-being of the union's citizens. Moreover, to create freedom and justice and promotes sustainable development. Ventotene Manifesto was therefore created to address the crisis of modern civilization. Scholars have come to realize that, modern European Union acts centrally to the Ventotene manifesto. From this idea, the European Union has failed to manage capitalism limits market and property ownership. This has gone beyond Ventotene Manifesto hence showing that the EU exists in a deeply ambiguous relationship to the Ventoten manifesto. For instance, philanthropists have taken over the role of the European Union. Moreover, the EU operates beyond Europe, which is beyond Ventotene Manifesto. With the objective to create the well-being of the individual as well as employment opportunities, the EU has failed in its objective hence revealing deeply ambiguous relationship to the principles of Ventotene.