Glossary of Institutions, policies and enlargement of the European Union
(Starting with "M")
©
European Communities, 1995-2007
http://europa.eu/scadplus/glossary/index_en.htm
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'Multi-speed'
Europe
"Multi-speed" Europe is the term used
to describe the idea of a method of differentiated
integration whereby common objectives are pursued
by a group of Member States both able and willing
to advance, it being implied that the others will
follow later.
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Measures
to combat money laundering
Money laundering is the process by
which those engaging in criminal activity conceal
the illegal origin of the resulting property or income.
Better cooperation between Member
States, and in particular their customs authorities,
is one of the aims pursued in the efforts to prevent
money laundering. Such efforts within the Union are
thus of two types:
- Under the Treaty establishing the
European Community (first pillar), free movement
of capital is so regulated that the flows can be
monitored. These rules relate both to financial
operators such as credit institutions and other
financial organisations, and to means of conducting
financial transactions, especially across borders.
They also target use of the financial system for
money-laundering purposes.
- Under Title VI of the Treaty on
European Union (police and judicial cooperation
in criminal matters -- third pillar), action to
combat money laundering is seen primarily as part
of the battle against organised crime and terrorism.
The focus is on definition of offences and on strengthening
mutual assistance (Convention on Mutual Assistance
in Criminal Matters of 29 May 2000, adopted by the
Council of the European Union in October 2001).
While action was already taken in
the 1990s under the first pillar, the third pillar
has been used to strengthen the Union's policy. On
this basis, efforts to combat money laundering rest
on action programmes, currently the five-year programme
adopted in 2004 in The Hague, which follows on from
the 1999 Tampere programme.
The European Constitution now being
ratified has added money laundering, counterfeiting
means of payment and computer crime to the list drawn
up for the minimum harmonisation of criminal offences
and penalties.
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Mergers
A concentration is the legal combination
of two or more undertakings, by merger or acquisition.
While such operations may have a positive impact on
the market, they may also appreciably restrict competition,
by creating or strengthening a dominant player.
In order to preclude restrictions
of competition, the European Commission exercises
control over planned concentrations with a Community
dimension (i.e. when the operation extends beyond
the borders of a Member State and exceeds certain
worldwide and Community-wide turnover thresholds)
and may authorise them subject to conditions or forbid
them.
In determining whether a concentration
is compatible with the common market, the Commission
takes account on a case-by-case basis of several factors,
such as the concepts of "Community dimension", "dominant
position", "effective competition" and "relevant market".
The basic criterion used to analyse concentrations
is that of a "dominant position". One or more undertakings
are said to hold a dominant position if they have
the economic power to influence the parameters of
competition, especially prices, production, product
quality, distribution and innovation, and to limit
competition to an appreciable extent.
Regulation (EC) No 139/2004, which
entered into force on 1 May 2004, radically recast
the Community rules for control of concentrations.
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Monetary
policy
Monetary policy is covered by Articles
105 to 111 (former Articles 105 to 109) of the EC
Treaty. It is fundamental to economic and monetary
union (EMU). Decision-making procedures vary according
to the topics in hand:
- for the issue of coins by the Member
States (Art. 106(2)), the cooperation procedure
applies, after consultation of the European Central
Bank (ECB);
- for the formulation of exchange-rate
policy guidelines (Art. 111(2)), the Council decides
by a qualified majority on a recommendation from
the ECB or from the Commission after consulting
the ECB;
- for the implementing measures referred
to in the Statute of the European System of Central
Banks (ESCB) (Art. 107(6)) and the limits and conditions
under which the ECB is entitled to impose fines
(Art. 109(3)), the Council decides by a qualified
majority on a recommendation from the ECB and after
consulting the European Parliament and the Commission;
- for technical adjustments to the
Statute of the ESCB (Art. 107(5)), the Council decides
by a qualified majority on a recommendation from
the ECB and after consulting the Commission and
obtaining the assent of the European Parliament;
- for the exchange rate of the Euro
against non-Community currencies (Art. 111(1)),
the Council decides unanimously on a recommendation
from the ECB or the Commission, after consulting
the European Parliament.
The institutional provisions (Articles
112-115) and transitional provisions (Articles 116-124)
of Title VII of the EC Treaty (economic and monetary
policy - former Title VI) have their own special decision-making
procedures which are separate from those identified
here.
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Monitoring
the application of Community law
The task of monitoring the application
of Community law is carried out by the European Commission
as the guardian of the Treaties. Since the European
Union is based on law, such monitoring is essential
to ensure compliance with and proper application of
Community law by and in the Member States. In exercising
its monitoring function, the Commission also takes
care to safeguard the role which is assigned to national
authorities, particularly the courts, in this area.
The Commission gathers information
and then warns and penalises Member States if they
fail to comply with the Community Treaties. Poor compliance
or non-compliance with the Treaties may result from
administrative oversight, technical difficulties in
applying the text, difficulties of implementation
or from concerns over how certain sectors of public
opinion may react.
If a Member State has failed to fulfil
its obligations, the Commission may deliver a reasoned
opinion after giving the State concerned an opportunity
to submit its observations. If this opinion remains
without effect, the Commission may bring the case
before the Court of Justice (infringement proceedings
against a State under Article 226 of the Treaty establishing
the European Community).
In this connection, the Commission
may ask the Court to impose a financial penalty on
the Member State concerned if the latter has not complied
with its reasoned opinion. This power greatly increases
its ability to monitor proper application of Community
law.
In addition, publication of the Commission's
annual reports on the application of Community law
are an expression of the desire for transparency in
dealings not only with complainants but also with
citizens and members of parliament.
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