F

Feasibility study
The methods and techniques used to examine technical and cost data to determine the economic potential and the practicality of project applications. It involves the use of techniques such as the time value of money so that projects may be evaluated and compared on an equivalent basis. Interest rates, present worth factors, capitalization costs, operating costs, depreciation, etc., are all considered.

Federalism
Broadly speaking, this means any system of government where several states form a unity and yet remain independent in their internal affairs. People who are in favour of this system are often called “federalists”. A number of countries around the world – e.g. Australia, Canada, Germany, Switzerland and the United States – have federal models of government, in which some matters (such as foreign policy) are decided at the federal level while others are decided by the individual states. However, the model differs from one country to another. The European Union is not based on any of these models: it is not a federation but a unique form of union in which the member states remain independent and sovereign nations while pooling their sovereignty in many areas of common interest. This gives them a collective strength and influence on the world stage that many of them would not have on their own. Part of the debate about the future of Europe is the question of whether the EU should or should not become more "federal".

Financial Instrument for Fisheries Guidance
This Structural Fund instrument aims to contribute to achieving a sustainable balance between fishery resources and their exploitation. It also serves to strengthen the competitiveness of the sector and the development of areas dependent upon it. From 2007, it will be replaced by the newley created fund "The European Fisheries Fund (EFF).

Financial perspective
The Financial Framework is a multi-annual indicative spending plan for the EU setting out binding annual spending ceilings for the main EU expenditure. It is a general framework within which the spending programmes are to be financed. The Financial Framework is not foreseen in the Treaty and therefore must be adopted by an “Inter Institutional agreement” (IIA) between the Council, the European Parliament and the Commission. The Inter Institutional agreement fixes the commitment ceilings in the Financial Framework. There are many advantages with the Financial Framework as it imposes budgetary discipline and ensures a controlled and predictable evolution for budgetary expenditure. It also simplifies the annual budgetary procedure by making it easier for the Council and the European parliament to agree on the annual budget.

Fortress Europe
This expression is often refers to a belief that EU wants to defend Europe from outside influences, especially cultural influences. The term "Fortress Europe" often appears in discussions about asylum and immigration regulations.

Founding fathers
This term refers to Jean Monnet and Robert Schuman, politicians who after the Second World War wanted to unite the peoples of Europe in lasting peace and friendship. Their visions are the origins of the EU as we know it today

Four freedoms
One of the great achievements of the EU has been to create a frontier-free area within which (I) people, (2) goods, (3) services and (4) capital can all move around freely. This four-fold freedom of movement is sometimes called “the four freedoms”.

Free Trade Area
This term refers to a group of countries that have removed barriers to trade between them – barriers such as import tariffs and quotas. Several free trade areas have been established around the world: Mercosur in South America, NAFTA in North America and EFTA in Europe are examples. The European Union is also a free trade area, but it is much more than that because it is built on a process of economic and political integration, with joint decision-making in many policy areas.

Frontier Research
This term refers to basic research.

Functionalist approach
This approach believes in a gradual transfer of sovereignty from the national to the Community level. The basic idea is that local, regional, national and European authorities should cooperate and compliment each other.