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Glossary of European Union (EU) Terms

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European Union Terms - O

  • l'Office Européen de Lutte Anti-Fraude (OLAF) - (European Anti-Fraud Office) (agency with the role of investigating and collecting evidence relating to internal cases of suspected fraud affecting the EC/EU (European Community/European Union) budget)

  • Office for Harmonization in the Internal Market (OHIM) - (Trade Marks and Designs) (EU agency opened in 1996 which handles registration of Trade Marks and Designs)

  • Official Journal of the European Communities (OJ) -

  • Open Method of Coordination (OMC) - (policy begun in 2000 designed to improve the European Union's (EU) competitiveness and economic performance by promoting cooperation and openness)

  • ordinary legislative procedure (OLP) - (acts enacted by the European Parliament following normal procedures involving proposals, committee consideration, parliamentary review, and adoption - in contrast to special legislative procedures (SLP))

  • Organization for the Advancement of Structured Information Standards (OASIS) - (organization which develops and maintains standards for various aspects of Web-based communications - how they are built and maintained)

  • Organization for Economic Co-operation and Development (OECD) - (Paris-based international organization established in 1961 with the goal of promoting democratic government and market economies. Represents 30 nations - provides economic statistical research and technical assistance for developing countries - superseded the Organization for European Economic Cooperation (OEEC) )

  • Organization for European Economic Co-operation (OEEC) - (organization created in April 1948 to administer U.S. aid under the Marshall Plan following World War II - replaced by the Organization for Economic Cooperation and Development (OECD) in 1961)

  • Organization of Petroleum Exporting Countries (OPEC) - (international organization of eleven developing countries dependent on oil exports as a source of revenues)

  • Organization for Security and Co-operation in Europe (OSCE) -

  • outright monetary transactions (OMT) - (mechanism used by the European Central Bank (ECB) involving investment in a member state - through the direct purchase of short-term government bonds, in return for a commitment to a program of financial austerity-measures)

  • Overseas Countries and Territories (OCT) -

  • Overseas Private Investment Corporation (OPIC) - (independent U.S. federal agency created by the Foreign Assistance Act pf 1969 to insure, guarantee, and finance private investments in developing countries - since 1979 OPIC has operated as a unit of the International Development Cooperation Agency)

  • Oxford Journal of Legal Studies (OJLS) -