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European Union (EU) Acronyms

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M

MCA - Monetary Compensatory Amount

MEP - Member of the European Parliament (European Parliament member - members are elected to renewable five-year terms, with seats divided among the member states based on population)

MEQR - measures having equivalent effect to a quantitative restriction (measures imposed by EU member states, related to the goods trade (exports, imports, or goods in transit), which, even if not a tax, tend to restrict or favor certain goods over others)

MFF - Multiannual Financial Framework (European Union long-term budget (five years), which is proposed by the Commission and then negotiated with the Council of Ministers and European Parliament (EP))

MOU - Memorandum of Understanding (a document that defines an agreement between two parties, detailing the rights and responsibilities of each party, often in situations where a legal contract is not necessary or appropriate, such as where both parties work for the same overall organization)

MTO - medium-term budgetary objective (European Union mechanism/goal designed to push states toward budgetary and monetary sustainability related to public finances)