Key Institutions and Functions of the European Union

Key EU Institutions and Their Functions

The committee is renewed within 5 years and 6 months after the elections to the European Parliament. Members of the Commission act as commissioners, fulfilling the following functions:

• Application of Community law.
• Execution of executive power of the Union.
• Development and promotion of common policies.
• Representation of the Community.

The European Union Council

The EU Council is the executive body of the Union. It represents and defends the interests of the EU as a whole, and not the interests of any member state nations, nor does it receive instructions from any government.

The Court of Justice

The Justice is the Court responsible for ensuring the equal interpretation of EU law and its application in the same way in each member state. The Tribunal has the power to resolve disputes between Member States, the Union institutions, companies, and individuals.

The European Court of Auditors

The Court of Auditors acts against poor management of the finances of the Union. It prepares an annual report on the economic and financial management of the Union.

The European Central Bank

The European Central Bank's central financial institution adopts the euro and occupies itself with monetary policy and controlling variables that influence inflation.

The European Ombudsman

The European Ombudsman agency receives and investigates complaints from citizens and companies against EU institutions, and from any person residing or having a registered office in an EU country.

Data Protection Supervisor

The Data Protection Supervisor is in charge of ensuring that EU institutions and bodies respect the law regarding individuals' privacy in the processing of personal data.

Social and Economic Council

The Social and Economic Council is a consultative body in which various sectors of economic and social life are represented.

European Investment Bank

The European Investment Bank is an autonomous body without profit whose projects financed primarily benefit the poorest regions and contribute to the objectives of the EU.

Committee of the Regions

The Committee of the Regions is a consultative body on matters that affect the regions. It is formed by regional and local representatives.

European Investment Fund

The European Investment Fund provides venture capital to small businesses, especially those starting up and oriented towards the technology sector.

EU Legal Acts

The rules adopted by the Council and the Commission include:

1. Regulations: Obligatory rules for direct application in all Member States.
2. Directives: Compulsory rules to be implemented in one or more states.
3. Decisions: Rules governing specific cases, compulsory for those addressed.
4. Recommendations and Opinions: Texts without binding force.