The European Union (EU) is a political and economic union of European countries that collaborate through shared institutions and policies. It was created to foster peace, stability, and prosperity on the continent through economic integration and political cooperation.
Key facts
- Founded: 1993 (Treaty of Maastricht)
- Member states: 27 (as of 2024)
- Headquarters: Brussels, Belgium
- Currency: Euro (used by 20 member countries)
- Official languages: 24
Origins and development
The EU evolved from post–World War II efforts to prevent further conflict through economic cooperation. Its roots lie in the 1951 European Coal and Steel Community and the 1957 Treaty of Rome, which established the European Economic Community. The 1993 Maastricht Treaty formalized the European Union, expanding its scope beyond economics to include political and security collaboration.
Institutions and governance
The EU operates through a system of supranational and intergovernmental institutions. Key bodies include the European Commission (executive branch), the European Parliament (legislative body representing citizens), the Council of the European Union (representing member states), and the Court of Justice of the European Union (judicial branch ensuring EU law compliance).
Policies and economic role
The EU operates a single market ensuring the free movement of goods, services, capital, and people. It coordinates policies on trade, competition, environment, and agriculture, and issues a common currency, the euro, through the European Central Bank. The union also plays a significant role in global trade negotiations and humanitarian aid.
Global influence and challenges
As one of the world’s largest economic blocs, the EU wields considerable influence in international affairs, promoting democratic values and regulatory standards. Challenges include managing migration, climate policy, security cooperation, and maintaining unity following events like the United Kingdom’s 2020 withdrawal (Brexit).
