European Union (EU)

  • EU is an economic and political partnership
  • It has 27 member countries.
  • UK withdrew from EU in 2020.
  • The EU was created by the Maastricht Treaty. The treaty entered into force on November 1,1993.
  • Law made in European Parliament is applicable and binding on all member states directly.
  • Its member states are committed to same basic values: peace, democracy, rule of law and respect for human rights.
  • It is single market allowing the free movement of people, goods, services and capital within internal market.
  • The union has its own currency, Euro established as monetary union in 1999 and being used by 19 member countries. Note: Not all members.
  • Moreover, within Schengen Area of EU, passport controls have been abolished.
  • The capital of EU is located in Brussels, Belgium. - European Union (EU)

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