European Commission
The European Commission (EC) is an institution of the European Union responsible for proposing legislation, enforcing EU laws and overseeing the budget. The EC also plays a major role in promoting economic integration across Europe. It was established on 1 November 1993 by the Maastricht Treaty as one of three separate institutions that make up what is now known as the European Union.
Since its inception, the Commission has been led by commissioners from each member state who are appointed to serve five-year terms and answer directly to their respective governments. Currently there are 27 Commissioners representing all 28 members states of the EU; including current President Ursula von der Leyen’s team which began work on December 2019.
The main tasks performed by this governing body include:
• Proposing new legislation for approval or rejection by either Parliament or Council – This includes proposals related to climate change, trade agreements with other countries, consumer protection standards etc.;
• Enforcing existing EU law – The commission works closely with national authorities such as police forces or competition regulators so they can ensure compliance throughout Europe;
• Managing daily operations within areas delegated to it – This covers activities such as coordinating research programs between different universities, granting funds to nonprofits etc.;
• Representing and defending interests of Europeans at global level – The most recent example being negotiations over Brexit agreement among others;
• Overseeing proper management of European funds – Through setting financial regulations applicable across all Member States while monitoring how money is spent in order prevent fraud eu wide .
In addition ,the EC also has responsibility for introducing Euro cryptocurrency into circulation using blockchain technology . While still relatively unknown concept ,Euro digital currency will allow quicker cross border payments without additional fees thus making international transactions cheaper than ever before . As part of process more regulator measures will be introduced ensuring utmost security when dealing with virtual currencies like Bitcoin & Ethereum just name few examples .
