This is

CBS, I on the world. I'm John Bachelor.

Joseph Sternberg for the Wall Street Journal editorial page

who writes political economics and his most recent column

is the institution that is vital to the 21st century success for America but not

much known about or talked about the European Union.

The elections are imminent.

They take place over several days in early June, six to nine is my memory.

And 720 members of the legislature to be chosen by all the

Europeans voting and by that I mean everybody but Britain who's no longer it's

no longer in the EU.

Joe, a very good evening to you, 720 members.

How to understand what their authority is

over the countries that have traditionally been part of the historical record, France, Italy, Germany, I could go on, but what is the relationship between Brussels and Paris, for example. Good evening to you.

Hey John, well I mean the answer as with most things involving the European Union

is that it's complicated.

So in theory the EU in Brussels does have a lot of power over issues of common continental concern.

I mean the EU is very involved in trade policy negotiating trade agreements and managing Europe's economic relations with the outside world.

Increasingly, although only sort of, they play a role in foreign policy issues of relations with the outside world.

And then also Brussels has an important role

in terms of managing the internal market within the EU,

so making sure that all of the European Union member countries

...