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European glossary of European Commission

You will find here all the keywords and definitions related to European affairs

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    These are five criteria that determine whether an EU country is ready to adopt the euro. They relate to: Price stability: The inflation rate should be no more than 1.5 percentage points above the rate for the three EU countries with the lowest inflation over the previous year; Budget deficit: This must generally be below 3% of gross domestic product (GDP); Debt: The national debt should not exceed 60% of GDP, but a country with a higher level of debt can still adopt the euro provided its debt level are falling steadily; Interest rates: The long-term rate should be no more than two percentage points above the rate in the three EU countries with the lowest inflation over the previous year; Exchange rate stability: The national currency's exchange rate should have stayed within certain pre-set margins of fluctuation for two years. These criteria were laid down in the Treaty of Maastricht – hence their name.


    It means any public or private authority or boday at national, regional or local level designated by the Member State, or the Member State when it is itself carrying out this function, to manage assistance from the Structural Funds. If the Member State designates a managing authority other than itself, it shall determine all the modalities of its relationship with the manging authority and of the latter's relationship with the Commission. If the Member State so decides, the managing authority may be the same body as the paying authority for the assistance concerned.


    Group of states forming the European Union, including the six founding states: Germany, Belgium, France, Italy, Luxemburg, and the Netherlands. Six phases of accession followed: - Denmark, Ireland and the United-Kingdom in 1973 - Greece in 1981 - Spain and Portugal in 1986 - Austria, Finland and Sweden in 1995 - Eight Eastern European countries, Malta, Cyprus in May 2004 - Bulgaria and Romania in 2007

  • MEP

    Member of the European Parliament


    br>Company that consists of less than 10 employees and whose turnover amounts to 2 million euro.


    Draft-agreement that precedes the final signing of a contract.


    Programme that is established for several successive years. These programmes usually last 3 to 7 years.

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