The Eu And The European Union

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EU stands for the European Union which was invented after the Second World War. The EU is a special economic and political partnership between 28 European countries together which covers more than half of the continent. EU purpose was to unite the european countries economically and politically and to bring peace to Europe (, N/A). EU was formed on April of 1951 by six countries which were France, Italy, Belgium, West Germany, Luxembourg and Netherlands. United Kingdom joined the EU on January 1973. On this year the United Kingdom started to follow EU law. Therefore, UK has three main sources of law which are statutory law (Act of Parliament), Case law and EU law. All of them could affect any business in various ways depend on business type, size, policies and etc. New countries which want to join EU must sign a treaty to become a member and to commit to their rules. There are five main bodies in EU: the Act Of Parliament, European Commission, European Council, Court of European Justice and Court of Auditors. Each body has its own specific things to be done (Keenan D. and Riches S., 2005). This report will discuss how United Kingdom’s membership of the European Union affects the business community, especially in the free movements, free trade, competition law and employment law.
Free Movements:
EU offers four free movements through its members state to promote their economy and assist businesses to improve. Movements are goods, services, capital and
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