What are the functions of the European Commission, the European Parliament, the Council, and the European Court of Justice?
Answer:
a. The European Commission provides the European Union's political leadership and direction. The commission is composed of commissioners nominated by each member government and approved by the European Parliament. It drafts laws that it submits to the European Parliament and Council of the EU.
b. The three major responsibilities of the European Parliament are: legislative power, control over the budget, and supervision of executive decisions. The commission presents community legislation to the parliament. Parliament may approve legislation, amend it, or reject it outright. Parliament also approves the EU's budget each year and monitors spending.
c. The Council is composed of the ministers of the member countries. The Council passes laws and makes and enacts major policies. It works closely with the Commission and Parliament in adopting policies.
d. The European Court of Justice ensures consistent interpretation and application of EU treaties. Member states, community institutions, or individuals and companies may bring cases to the court. The Court of Justice is an appeals court for individuals, firms, and organizations fined by the commission for infringing treaty law. The Court of Justice is relevant to MNEs because it deals mostly with economic matters.