European Union. As a regional economic integration organization, the EU is a Party to both the Convention and the Kyoto Protocol. However, it does not have a separate vote from its member states. Because the EU signed the Convention when it was known as the EEC (European Economic Community), the EU retains this name for all formal Convention-related purposes. The 28 members of the European Union meet in private to agree on common negotiating positions. The country holding the EU Presidency - a position that rotates every six months - then speaks for the European Union and its 28 member states. The EU percieves the second commitment period of the Kyoto Protocol only as a transition phase, followed by a new treaty that should be implemented in its place; assigning all major economies mandatory emission reduction targets.