What Is The European Union?

The European Union (EU) is a political economic union of 28 members. The founders are France, Belgium, Luxemburg, Italy, Netherlands, and Germany. The Maastricht treaty established the European Union in 1993. The EU aims to ensure the free movement of people, goods, services and capital and regional development. These 28 member states have successfully integrated because of their similar cultural lifestyles.

The European Union consists of 28 member states and has a population of 503 million inhabitants, and a total surface area of over 4 million square miles. The EU has its own currency, the Euro, and the largest single market in the world. It is a global community and power and has a huge influence on our world today in many aspects, and has been slowly built up to what it is today through humanistic ideology , common interests, new structures, treaties, economic policy and the attempt of equality throughout.

European Law is very complex law , within EU law there is various different treaties which are in place. Two most significant treaties which have importance to the legislative process are The Treaty on European Union and the Treaty on the functioning of the European Union.

When the Eurozone was founded on January 1, 1999, it was with the intention of further integrating and strengthening the nations of Europe, both economically and politically. Until recently, it was believed that the euro provided a stable currency with low inflation and low interest rates and encouraged sound public finance. That the use of a single currency increases price transparency, eliminates currency exchange costs, oils the wheels of the European economy, facilitates international trade, and gives the European Union a more powerful voice in the world. That the size and strength Eurozone would better protect it from external economic shocks, and provide the EU’s citizens a tangible symbol of their European identity, of which they can be increasingly proud as the euro area expands and multiplies these benefits for its existing and future members (European Commission).

After World War II, it was clear that Europe was in need of economic restructuring. The European Community (EC) originated in 1957 an d eventually became the European Union, now made up of 28 member states. (Gerber , 2014). The EU trade bloc allows free movement of goods,

There is an erroneous assumption in the world that the concept of the European Union, the notion of having a shared currency, and borderless pan-European continent is a relatively new idea. However, the idea of a pan-European identity as it is known today through the European Union was established after the end of the Second World War, as the need for a united Western Europe was needed to combat the possible threat of war with the Soviet Union. The policies of the European Union went through a long review through the establishment of multiple pan-European organizations, primarily the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), which provided the backbone of the modern European Union, through a number of treaties that encouraged European cooperation. It is through the combined efforts of the ECSC and the ECC that Churchill’s dream of a united Europe in 1949 eventually culminated in the creation of the European Union (E.U), an organization whose role is to protect the economic interests of aligned nations as outlined by the mandates of the ECSC and ECC.

The European Union established after the Second World War was meant to give Europeans a common sense of urgency or direction. As time went on and different treaties were enacted the EU went from a trade agreement between six nations that were meant to help stabilize to a union where countries are becoming almost inseparable from the union itself due to the lack of autonomy and dependence.

The introduction of a social and economic grouping is often to create a single market, such as was the case with the EU and NAFTA. The European Union is an economic and political union of 27 member states which are located in Europe – its roots are with the EEC which was formed in 1957. The European Union was fully established when the Maastricht Treaty came into force on 1st November 1993. The original objective of the EU was to create such single market, so that there was the free circulation of goods,

It was clear that Europe was no longer the economic powerhouse that it was pre-war, and handful of Western European leaders achieved the first step towards economic unification in 1957 with the signing of the Treaty of Rome, which created the European Economic Community (ECC), with six member states comprising of France, Belgium, Italy, Luxembourg, the Netherlands, and West Germany. The community sought economic integration within member states that were distinctly different societies with unique cultures, languages, and currencies, striving for the ultimate goal of creating a single market.

The European Union is known as a economic and political union that has 28 member states around the continent .The EU was established in the aftermath of World War 2. The idea behind the eu was that countries that trade with each other become economically interdependent and are less likely to get into conflict. What stared off as a purely economic union advanced into an organization covering policy areas, from climate, environment and health to external relations and security, justice and migration (Ayiekoh, 2016).

Sixteen of the twenty seven member states of the European Union have adopted the euro (€) (Anon, B. 2009). Consequently the euro is used daily by some 327 million Europeans (Anon, E. 2009). It has developed a limited role in foreign policy, having representation at the WTO, G8 summits, and at the UN (Anon, E. 2009).

Europa (n.d. d) describing the single market and related policies stated that all borders between Member countries disappeared allowing the freely movement for goods, people and capital in order to stimulate industrial and economical extending within a large area. Grabtree (2007) researching the EU operation has found that the introduced unique currency called Euro has an advantageous impact on companies function and on economy in general. He stated that transfers became easier, costs more transparent and prices on goods became averaged in the whole union. Such strengthening of the economy brought stability and bright future. Moreover, because all economies became unified, countries gained the ability as a common body to overcome financial crises and agree on issues that mainly affect the economy. The Europa (n.d. e) also made a suggestion that such strengthening of economy made possible the financial help for poor regions that require the raising of life standard. Because of this reasons it is beneficial to a country to join the union.

The European Union (“EU”) is an economic and political vehicle between 28 European countries, including the United Kingdom, that allows national governments to pursue shared and national interests. The United Kingdom became a Member State in 1973. The EU was born out of a quest for peace following the devastating effects of World War II. To that end, six nations signed the European Coal and Steel Community Treaty, in 1951, to share their coal and steel resources. This agreement was subsequently replaced by the European Economic Community (“EEC”), which was eventually renamed the “European Community” (“EC”). The EU, which was created by the Maastricht Treaty, replaced the EC when it formally came into being in 1993 following ratification of the Treaty of the European Union (“TEU”) by Member States.

European Union is a political and economics organization,which consist of 28 countries.It was established by 6 European Countries.The UK joined to EU 1 January 1973 with Denmark and Ireland.EU provides freedom movement of people services capital with standart legislation for member countries.All of these standarts could lead to opportunities such as,free movement.competitive trading(www.europa.eu-official website of EU).According to the official website ‘The EU’s economy measured in terms of goods and services(GDP:Gross Domestic Product) is now bigger than US’s:EU GDP in 2012 (i.b.i.d).All of positive features of EU,nevertheless Currently,It is loudly discussed to withdraw EU in the UK as Prime Minister David Cameron said in 2013 (newspapers).

The European Union (EU) was established in order to prevent the horrors of modern warfare, experienced by most of Europe during the World Wars of the 20th century, from ever ensuing again, by aiming to create an environment of trust with the countries of Europe cooperating in areas such as commerce, research and trade (Adams, 2001). The EU has evolved into an economic, trade, political and monetary alliance between twenty-eight European Member States. While not all Member States are in monetary union (i.e. share the currency of the euro), those that are form the ‘Euro-zone’ (Dinan, 2006). The EU can pass a number of types of legislation, with a regulation, act, or law, being the most powerful. Its ‘tricameral’ (European Union, 2007)