Published Paper Details:

The Treaty of Lisbon has modified and enhanced the regulations and relations of the European Union. The European Union was fundamentally an Economic group. Presently, it has not only concentrated only on the market economy but has a mandate beyond that dimension. It created a much more centralized form of leadership and also regulated foreign policies. A uniform procedure was made for the member countries with regard to their entry and exit in and from the European Union. The formulations of enactment of new policies were also done under this Treaty. This treaty was basically to remove the defects which the earlier treaties of the European Union were possessing. It also played a very important role in the enhancement of the European market and the creation of an Open Market System. Treaty of Lisbon has been proved to be very effective to the objectives it aimed at. It has played a major role in expanding the European market economy. It has protected the rights of the member-states. It also has granted greater power to the directly elected representatives of the people. More legal rights have been granted to the member-states as they had before. The Author here will be discussing the major impact that the treaty had done in order to upgrade and enhance the European Market and has also tried to state the shortcomings of the treaty.