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EC
This acronym refers either to the European Community or to the European Commission.

Ecofin
This term refer to the Council of the European Union when it is made up of the financial ministers

Economic and Monetary Union
It is based on a close cooperation of Member States’ economic policies, the introduction of a single currency and the conduct of a single monetary policy which is primarily focused on maintaining price stability. It is divided into three stages where the final stage started 1st January 1999 with the introduction of the EURO and the transferring of monetary competence to the European Central Bank

Economic and social cohesion
One of the major challenges for the EU is to reach economic and social cohesion within the territory. That is why much of the funding goes to actions aiming to reach this objective.

Economic and Social Committee
This is a consultative committee and a forum of reconciliation of interest of the EU. It meets monthly and has 263 representatives from various economic and social groups in the Union

EEA
This acronym refers to the European Economic Area - which consists of the European Union and all the EFTA countries (see below) excluding Switzerland. The EEA Agreement, which entered into force on 1 January 1994, enables Iceland, Liechtenstein and Norway to enjoy the benefits of the EU's single market without the full privileges and responsibilities of EU membership.

EEC
This is the acronym for the European Economic Community - an organization established in 1957- to bring about economic integration in Europe. There were originally six member countries: Belgium, France, Germany, Italy, Luxembourg and the Netherlands. In 1993, when the Treaty of Maastricht came into force, the EEC was re-named the European Community (EC) and it forms the basis of today's European Union.

EFTA
This is the acronym for the European Free Trade Association - an organization founded in 1960 to promote free trade of goods amongst its Member States. There were originally seven EFTA countries: Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the United Kingdom (UK). Finland joined in 1961, Iceland in 1970, and Liechtenstein in 1991. In 1973, the UK and Denmark left EFTA and joined the EEC. They were followed by Portugal in 1986, and by Austria, Finland and Sweden in 1995. Today the EFTA members are Iceland, Liechtenstein, Norway and Switzerland.

Enhanced co-operation
A group of eight or more EU countries can work together in a particular field even if the other EU countries are unable or unwilling to join in at this stage. The outsiders must, however, be free to join in later if they wish.

Enlargement of the EU
In the 1950s, the EU began with just six member states. It now has 25. The most recent enlargement, in May 2004, added ten more Member States: the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia. Romania and Bulgaria will join the EU from 2007.

ERASMUS
Named after the great Renaissance scholar, this is an EU-supported education exchange programme that began in 1987. Thanks to this programme, more than a million young Europeans have been able to spend time studying in another EU country. Students sometimes speak of taking "an Erasmus year".

EU Bookshop- the publications portal
This publication portal lists all free and for sale publications of the EU institutions and agencies as well as publications from other decentralised bodies of the EU.

EU Institutions
The three main EU institutions are The European Commission, The European Council, and the European Parliament. Two other vital institutions are the Court of Justice and the Court of Audience.

EU Resources
The EU's resources collected out of Customs (collected when import to the EU), Agriculture levy, VAT source and the GDP source.

EURES
The EURES network is a European Job Mobility Portal of the Commission, which provides job vacancies in 29 European countries and also information about living and working abroad.

EUR-LEX
This is an official EU Law portal providing the complete collection of EU legal texts in all official languages in various formats (HTML, PDF, TIF, WORD). It provides direct access to the official documents repositories managed by the institutions or by the Publications Office as well as other institutional documentary sources like CELEX.

EURO
Euro is the currency of 12 Member States, while the ten new Member States, Sweden, Denmark and the UK still use their national currency. Banknotes and coins started to circulate the 1 January 2002

Eurobarometer
This is a Commission service, set up in 1973, which measures and analyses trends in public opinion in all the Member States (old and new) and in the candidate countries. Knowing what the general public thinks is important in helping the European Commission draft its legislative proposals, make decisions and evaluate its work. Eurobarometer uses both opinion polls and focus groups. Its surveys lead to the publication of around 100 reports every year.

Eurocrat
The term “Eurocrats” (a pun on the word “bureaucrats”) refers to the many thousands of EU citizens who work for the European institutions (Parliament, the Council, the Commission, etc.).

Euroland
This is an unofficial nickname for what is officially called “the euro area” - also often referred to as “the euro zone”. The 12 countries using the EURO are Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, The Netherlands, Austria, Portugal, Finland.

EUROPA
It was the ancient Greek and Latin name for Europe, and it is now the name of the European Union's official website. It contains a wealth of useful information about the EU, regularly updated, and it is available in all the official languages of the EU.

Europa Newsletter
A publication reporting about the new developments on Europa Server and forthcoming EU events. It is issued every two weeks and is free of charge for people registered on the EU Web page.

Europe Day
It was on 9 May 1950 that Robert Schuman (then French Foreign Minister) made his famous speech proposing European integration as the way to secure peace and build prosperity in post-war Europe. His proposals laid the foundations for what is now the European Union. 9 May is celebrated annually as the EU’s birthday.

EUROPE DIRECT
This is a server offering answers on all questions concerning theEU in all the official languages. It can be reached by phone, by mail or by an interactive Web-Assistance service

Europe Info Centre
The Euro Info Centres provide up-dated information on EU in general. It can concern European Directives and Regulations, public sector contract opportunities, funding, research and development initiatives etc. This network has now more than 250 centres across the whole Europe.

European added value
Refers to the benefits of cooperation undertaken at the European level instead of a cooperation at a national level.

European Agricultural Guarantee Fund
This newley created fund will finance direct support within CAP during the period 2007-2013. It replaces the Guarantee section in the previous European Agriculture Guidance and Guarantee Fund from 2007.

European Agricultural Guidance and Guarantee Fund (EAGGF)
This Fund financed the Common Agricultural Policy and consisted of two parts: the Guarantee Section finance expenditure on the agricultural market organisations, rural development measures accompanying market support and rural measures outside Objective 1. The Guidance Section finance other rural development not financed by the Guidance Section. It will be replaced by the European Agriculture Guarantee Fund and the European Agroculture Fund for Rural Development for the period 2007-2013

European Bank for Reconstruction and Development financed projects
The EBRD is owned by 60 countries and two intergovernmental institutions. It uses its tools of investment to help build market economies and democracies in 27 countries from Central Europe to Central Asia. It provides project financing for banks, industries and business, including investments in new ventures and exsting companier. According to its founding agreement it should promote environmentally sound and sustainable development.

European Central Bank
The ECB is the Central Bank for the Europe's single currency, the EURO. Its main task is to maintain price stability. The euro area is comprised of the 12 Member States that have introduced the EURO.

European Coal and Steel Community
It was founded in 1951 by the Treaty of Paris in order to pool the steel and coal resources of its Member States and served for the later development of the European Economic Community, which later became the EU.

European Community
This is the first pillar of the EU. Its task is to promote a balanced and sustainable economic growth, a high level of employment and social protection, competitiveness and convergence of economic performance and limit inflation.

European Court of Auditors
Its mission is to audit independently the collection and spending of EU Funds. It examines whether financial operation have been properly recorded, legally and regularly executed and managed in a way that ensures economy, efficiency and effectiveness. It consist of one member, appointed by the Council of the European Union, from each Member State

European Free Trade Association
The current Member States of EFTA are Iceland, Liechtenstein, Norway and Switzerland. It was established 1960 and today maintains the management of EFTA Convention (intra EFTA trade), the EEA Agreement (EFTA -EU) and the EFTA free trade agreement (third countries relations). It was established to provide a framework for the liberalisation of trade in goods among its Member States and to be an economic counterbalance to the more politically driven EEC for countries who preferred a free trade agreement instead of deeper economic integration

European Integration
This means building unity between European countries and peoples. Within the European Union it means that countries pool their resources and make many decisions jointly. Joint decision-making takes place through interaction between the EU institutions (the Parliament, the Council, the Commission, etc.).

European Investment Bank
The Treaty of Rome created this financing institution of the EU. It raises, on the market, substantial volumes of funds to finance capital project according to the objectives of the EU. EIB also implements the financial components of agreement concluded under the European Development Aid and Cooperation policies.

European Investment Fund
The EIF’s activities are centred upon two areas, venture capital and guarantees. It is a public private partnership whose shareholding includes the European Investment Bank (61.65 %), the EU represented by the Commission (30 %) and some European banks and financial institutions (8.35 %).

European Monetary Institute
It was established 1 January 1994 and marked the second stage of EMU. Its main tasks were to prepare the establishment of the European System of Central Banks (ESCB) and to strengthen the bank cooperation and monetary police between Member States. This was a forum for consultation and exchanging policy information.

European Ombudsman
Established by the Maastrich Treaty, the European Ombudsman deals with complaints regarding maladministration by the institutions and bodies of the EU. It is the safeguard of the fundamental rights of citizens living in Europe. The current Ombudsman is Mr. P. Nikiforos Diamandouros, appointed 2003.

European Parliament
This EU Institution was established 1958 an consists of 732 members which are elected every five years by the Citizens of the EU. It has three fundamental powers: legislative, budgetary and supervisory. It represents the EU's citizens and its power have increased each time the treaties have been revised.

European Personal Selection Office
The official website of the European Personnel Selection Office provides information on career opportunities in the European Institutions.

European Regional Development Fund
This Fund provides investments in socially and economically challenged areas of Europe.

European Research Council
It is a proposed funding body for science in the EU. It is a part of FP7 and will implement the EU activities regarding frontier research

European Social Fund
This Fund is one of the four structural Funds. It is EU's main financial support for combating unemployment and developing human resources. EFS channels its money into strategic long-term programmes across the EU especially in regions where development is less advanced. The EFS granted around EUR 70 billion during the current period 2000-2006.

European System of Central Banks
It was established in 1998 and its headquarters are located in Frankfurt, Germany. It consists of the national central banks (NCB) along with the European Central Bank (ECB). Its main task is to maintain a monetary policy for the euro area. It also conduct foreign exchange operations, holds and manages the foreign reserves of the euro areas countries and promotes the smooth operation of payment systems. It has the exclusive right to authorise the issuance of banknotes within the euro area. It also collects statistical information.

European University Institute
The founding EU Member States with the main objective to provide advanced academic training to PH. D students and to promote research at its highest level created this University Institute in 1972. It is situated in Florence and carries out research in history, law, economics, political and social science.

Europol
This is another term for the European Police Office. Its aim is to improve the effectiveness and co-operation of the competent authorities in the Member States in preventing and combating terrorism, unlawful trafficking and other serious forms of international organised crime.

Eurosceptic
This term is often used to mean a person who is opposed to European integration or who is "sceptical" of the EU and its aims.

Eurostat
This is the statistical Office of the European Communities providing detailed statistical information about Member states and Candidate countries.

Eurosystem
The Eurosystem is part of the European System of Central Banks and consists of the European Central Bank and the national Central Banks of Member States that have adopted the euro.

Exchange Rate Mechanism
This system was intended to prepare the way for a single currency, The currencies of the ERM were fixed against each other within a narrow band of fluctuation based on a central European Currency Unit rate. It was revised from 1 January 2001 when the EURO was launched.

External Assistance
The External Assistance of the EU consists of six instruments; the Pre-accession Assistance, the European Neighbourhood and Partnership Instrument, the Development Cooperation and Economic Cooperation Instrument, the Instrument for stability, Humanitarian aid and Macro Financial Assistance. The EuropeAid Cooperation Office, responsible for the implementation of the Community Aid, was created in 2001

External Common Custom Tariff
This external tariff of the European Communities applies to products imported into the region. The Integrated Tariff of the European Communities is referred to as Taric, which incorporate all Community trade measures for goods imported into or exported out of the Community and the Commission manages it.