European Union

From Saferpedia

The European Union (EU) is an economic and political union of 27 member states which are located in Europe. The EU was initially the European Coal and Steel Community (ECSC) and the European Economic Community (EEC) formed by six countries in the 1950s. Since the Treaty of Rome in 1958 the EEC is committed to regional integration and has grown in size through the accession of new member states. The Treaty of Maastricht in 1993 established the European Union with its current name and state. A monetary union, the euro zone, has been established since the inception in 1999 and is made of sixteen member states. The last amendment to the constitutional basis of the EU came into force in 2009 and was the Lisbon Treaty.

The EU operates through a hybrid system of supranational independent institutions and makes decisions negotiated by the member states. Important institutions of the EU include the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, and the European Central Bank.

The European Parliament is elected every five years by EU citizens. The EU has developed a single market through a standardized system of laws which apply in all member states including the abolition of passport controls within the Schengen area. It ensures the free movement of people, goods, services, and capital, enacts legislation in justice and home affairs, and maintains common policies on trade, agriculture, fisheries and regional development. Through the Common Foreign and Security Policy the EU has developed a limited role in external relations and defense.
Source: Wikipedia

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