
Lisbon Treaty
The Lisbon Treaty, also known as the Treaty of Lisbon, updated regulations for the European Union, establishing a more centralized leadership and foreign policy, a proper process for countries that wish to leave the Union, and a streamlined process for enacting new policies. The Lisbon Treaty, also known as the Treaty of Lisbon, updated regulations for the European Union, establishing a more centralized leadership and foreign policy, a proper process for countries that wish to leave the Union, and a streamlined process for enacting new policies. The Lisbon Treaty updated European Union (EU) regulations, establishing more centralized leadership and foreign policy, a process for countries that want to leave the EU, and a streamlined process for enacting new policies. While these previous treaties set ground rules and tenets of the European Union, the Lisbon Treaty went further to establish new Union-wide roles and official legal procedures. The Lisbon Treaty was built on existing treaties but adopted new rules to enhance cohesion and streamline action within the European Union.

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What is the Lisbon Treaty?
The Lisbon Treaty, also known as the Treaty of Lisbon, updated regulations for the European Union, establishing a more centralized leadership and foreign policy, a proper process for countries that wish to leave the Union, and a streamlined process for enacting new policies.
The treaty was signed on December 13, 2007, in Lisbon, Portugal, and amended the two previous treaties that established the foundation for the European Union.



Understanding the Lisbon Treaty
Before the Lisbon Treaty
The Lisbon Treaty was signed by the 27 member states of the European Union and officially took effect in December of 2009, two years after it was signed. It amended two existing treaties, the Treaty of Rome and the Maastricht Treaty.
While these previous treaties set ground rules and tenets of the European Union, the Lisbon Treaty went further to establish new Union-wide roles and official legal procedures.
What the Lisbon Treaty Changed
The Lisbon Treaty was built on existing treaties but adopted new rules to enhance cohesion and streamline action within the European Union. Important articles of the Lisbon Treaty include:
The Lisbon Treaty also replaced the previously rejected Constitutional Treaty, which attempted to establish a Union constitution. Member countries couldn't agree on the voting procedures established in the constitution, since some countries, such as Spain and Poland, would lose voting power.
The Lisbon Treaty resolved this issue by proposing weighted votes and extending the reach of qualified majority voting.
Opinions of the Lisbon Treaty
Those who supported the Lisbon Treaty argued that it enhanced accountability by providing a better system of checks and balances, and that it gave more power to the European Parliament, which held major influence in the Union's legislative branch.
Many critics of the Lisbon Treaty argued that it pulled influence toward the center, forming an unequal distribution of power that ignored the needs of smaller countries.
Related terms:
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European Economic and Monetary Union (EMU)
The European Economic and Monetary Union (EMU) refers to all of the countries that have adopted a free trade an monetary agreement in the Eurozone. read more
Euro
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European Community (EC)
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European Union (EU)
The European Union (EU) is a group of countries that acts as one economic unit in the world economy. Its official currency is the euro. read more
Maastricht Treaty
The Maastricht Treaty was a treaty that is responsible for the creation of the European Union and was approved by heads of government of the states making up the European Community (EC) in December 1991. read more
Stability and Growth Pact (SGP)
The Stability and Growth Pact is a set of fiscal rules designed to prevent countries in the European Union from spending beyond their means. read more