Suchergebnisse

This study examines the nature of "sovereignty bargains," the costs & benefits of a country's membership in regional groups, a term developed by Karen Liftin to describe the advantages & concessions that countries make in becoming members of economic unions. The creation of regional economic & political unions with international contractual arrangements is changing the concepts on which governments are based. For example, the European Union (EU) has developed supranational institutions that possess executive, administrative, & judicial functions. The EU can draft legislation, monitor each state's adherence to their regulations, & impose heavy penalties for noncompliance. The European Court of Justice (ECJ) has developed the doctrines of supremacy & direct effect, which places EU authority above national legislation & makes EU law directly applicable to all citizens. The price & benefits of membership for each country differ: a large, prosperous country may gain economically & be a major leader in the union; a small, poor country will not have leadership power, but may receive foreign capital & achieve economic growth; a wealthy, but small, country may not gain as much from membership, but may need the union during economically challenging times. 77 References. L. A. Hoffman