The European Commission drafts legislation, manages and implements EU policies and budget, and enforces European Law jointly with the Court of Justice The Council of the European Union is the principal decision-making body and coordinates responsibilities and sets overall European Union policies. The European Parliament passes European laws jointly with the Council and adopts or rejects the EU budget in a shared authority with the Council. The European Court of Justice was established by a 1925 Treaty. Its decisions and rulings are binding.
The European Economic and Social Committee came into existence with the 1957 Treaty of Rome to represent employees, trade unions, farmers, consumers, and other civil society in policy discussions with the Commission, Council, and Parliament.
◘ The Committee of the Regions is an advisory board representing
◘ The European Investment Bank, established by the 1958 Treaty of Rome, lends money for projects of European interest, such as rail and roads, airports, and the environment.
◘ The European Investment Fund is a specialized financial body to promote the creation and growth of European small businesses.