Main points of the EU's 'Lisbon Treaty'

The main points of the "Lisbon Treaty" the European Union leaders are signing Thursday in Lisbon and which aims to simplify how the bloc will be run in the decades ahead. The new EU treaty must be ratified by the parliaments of 26 EU nations and voters in Ireland by 2009.

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BURYING THE CONSTITUTION:

If ratified, the "Lisbon Treaty" will replace the aborted draft constitution voted down by French and Dutch voters in 2005. The new treaty is of a more modest charter, amending previous EU treaty rulebooks, and drops some of the symbolic elements of the constitution such as formally recognizing the EU flag and anthem. Although the treaty retains many elements of the now-dead constitution, the slimmed-down version can be approved by parliaments, avoiding tricky referendums. Ireland is an exception and has to put it to a popular vote.

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FUNDAMENTAL RIGHTS:

A 50-article charter contains an exhaustive list of well-established rights, such as freedom of speech and religion, but also includes the right to shelter, education, collective labor bargaining and fair working conditions. It will be legally binding for 25 of the 27 EU members. Worried by the impact on business and their legal systems, Britain and Poland insisted on and obtained opt-outs.

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POWER AND INFLUENCE IN AN EXPANDED CLUB:

The EU will have a president for 2 1/2-year terms and a more powerful foreign policy chief who answers to the EU governments but is a member of the European Commission, the EU executive. That person will get control over the EU's aid budget and its extensive network of diplomats and civil servants. Although the title "European foreign minister" is dropped, the arrangements should counter the old American gripe of "who do you call when you want to speak to Europe?"

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SMALLER EUROPEAN COMMISSION:

The EU executive office will be cut from the current 27 members to 17 as of 2014. Commissioners will be selected on a rotation system among the states, and will sit for five-year terms.

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EUROPEAN PARLIAMENT:

The European Parliament gets more power _ especially in justice and interior affairs _ to influence or reject EU legislation. The EU assembly will have its membership capped at 751 members from the current 785, which would mean fewer seats for 17 of the 27 EU nations.

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DECISION-MAKING:

A new, fairer voting system comes into play in 2014: as of then a decision is passed if 55 percent of the EU states representing more than 65 percent of the bloc's population (now 490 million) agree.

The treaty will mean the EU can take decisions by majority rather than unanimous voting in 50 new areas including judicial and police cooperation, education and economic policy. Britain and Ireland get opt-outs in judicial and police areas. Unanimity is still required in foreign and defense policy, social security, taxation and culture. National parliaments get more oversight powers of EU legislation. The treaty elevates energy and fighting climate change to formal EU policy areas and makes it possible for members to leave the EU, if they so wish.

Also: If anyone can get a million signatures on a petition asking for EU law in a specific area, the European Commission must draft such legislation.

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NEXT STEP:

Nations will have until June 2009 to complete ratification in time for EU-wide elections to the European Parliament.