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Glossary of European Union (EU) Terms

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European Union Terrms - M

  • measures having equivalent effect to a quantitative restriction (MEQR) - (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)

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

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

  • Memorandum of Understanding (MOU) - (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)

  • monetary compensatory amount (MCA) - (amount, in money terms, which would be the equivalent of an economic loss)

  • Multiannual Financial Framework (MFF) - (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))