Well yes, that's what governments do. They regulate things (it's usually called laws, which the regulations are not called, so it is clear they have to be translated into local law first), they make deals, they coordinate responses. What do you expect the EU to do?
Regulation can be bad or good. I was stating a fact about what regulations and EU have to do with one another. I believe that EU has big problems however I also believe that it has a much bigger potential. I am also glad that UK left because no one can have preferential treatment.
