EUROPEAN UNION Research Paper Example | Topics and Well Written Essays - 2000 words

EUROPEAN UNION - Research Paper Example ic debate regarding these two principal issues as well as related subject matter such as the European Union as an institutional system and political entity, the transformation of governance and the three aspects what are mentioned as preconditions for this transformation. Lastly, we endeavor to come up with a very rational assessment and analysis of the topics that we have chosen. The European Union has always been viewed as a positive development for Europe as well as the rest of the world. It has always been at the forefront in terms of governance, economic growth and progress, foreign relations, social development and the legal system. Decision-making is formulated by self-governing, supranational institutions or through the conduct of negotiations between member-nations. Some important institutions of the EU include the  European Commission, the  Council of the European Union, the  European Council, the  Court of Justice of the European Union, and the  European Central Bank. The  European Parliament  is elected every five years by  EU citizens. The White Paper on Governance formulated and adopted by the European Union through its executive body commonly known as the European Commission was aimed at setting up democratic forms of governance in five different levels, namely: European, Global, National, Regional and Local. This White Paper drafted suggestions that hoped to delineate more openly the position of EU institutions in world governance. Among their main concerns were deeper involvement, parameters in regulation and contributions that the Union can make to world governance. Through this document, the Commission looked forward to implement governance reforms under exiting treaties. In a recent development, leaders of the European Union led by EU President Herman Van Rompuy announced the espousal of milestone reforms that would promote economic governance in the 27-nation bloc with more stringent fiscal discipline and closer policy coordination. EU