b'EFSMEU European Financial Stabilisation Mechanism;European Union; (1993), a political union an emergency fund set up by the EU.within which the 28 member states of the EEC are evolving. Based on the MaastrichtEFSFTreaty, it envisions the establishment of European Financial Stability Facility; Asingle economic, foreign, security, and justice special-purpose vehicle to provide financialpolicies. assistance to Eurozone states in financial difficulties so as to preserve financial stability.European Commission DG Trade The Directorate General for Trade of the European Commission. EFTA European Free Trade Association; a free trade organisation comprised of fourEWTD nations: Iceland, Liechtenstein, Norway andEuropean Union Working Time Directive; an Switzerland. It was originally created as anEU directive, intended to protect workers alternative for those states that were unablehealth and safety, working hours must meet or unwilling to join what was then the EEC,minimum standards applicable throughout now the EU.the EU.EGOVFAO Economic Governance Support Unit;Food and Agricultural Organisation; a UN provides expertise to support the Europeanagency leading international efforts to defeat Parliament in the coordination andhunger. surveillance of EU economic and fiscal policies, and also to ensure financial stability.FCO Foreign and Commonwealth Office; the UK EMUgovernment department handling foreign Economic and Monetary Union; formed inaffairs. 1999, creating a European central bank and a single currency, the Euro. Was set up in threeFDI stages beginning in 1990 and eventuallyForeign Direct Investment; when a included the European Central Bank and acorporation in one country establishes a single currency, the euro.business operating in another country.EPFM European Parliament; one of the EUs mainFinancial Mechanism; method or source law-making institutions. It consists of 750through which funding is made available. directly elected members from the member states.FTA Free Trade Agreements; agreements ESMdesigned to reduce barriers to trade between European Stability Mechanism; the Europeantwo or more countries. Stability Mechanism is an EU agency to provide financial assistance, in the formFPA (Greenland) of loans, to Eurozone countries or as newFisheries Partnership Agreement; a bilateral capital to banks in difficulty. It is a permanentagreement implemented on 1 February, 1985 agency, based in Luxembourg, and replacedbetween the EU and Greenland. With an initial the temporary European Financial Stabilityten-year period with subsequent renewal Facility (EFSF).periods of six years, it is still in effect today.243'