It represents the people of the EU unlike the Council of Ministers, which represents governments.
Elections held every 5 years since 1979
The European parliament's powers have steadily increased with each change of the EU treaties. Most new laws in member states are to implement European legislation which is amended and adopted by the European Parliament.
The Euro is the currency of 16 out of 27 members of the EU
In the UK this has been a bone of contention since it’s formation in 1999. The UK as with all other member states have promised to adopt the Euro ‘in due course’. However the strength of anti-European sentiment and the love for the GB Pound leaves the issue doubtful.