Signifies how Europeans have come together, in the form of the EU, to work for peace and prosperity, while at the same time being enriched by the continent’s many different cultures, traditions and languages.
European Union“United in diversity”
What is the European Union?• A group of European countries that are all committed to the same fundamental values. • Peace, democracy, the rule of law, & respect for human rights.• Membership in the European Union helps the economy and government of each member country
• The member countries make joint decisions on matters of politics and economics.• They have common policies in the following areas: • Agriculture Culture Consumer affairs Competition among businesses Environment Energy Transportation Trade• All member countries must follow the EU policies in order to stay a member of the EU.
• A “common market” means that trade and travel barriers between countries have been removed.• The “Four Freedoms”- movement of goods, services, people and money • use a common currency.• In 1992, the EU decided to use a single currency, the euro. Introduced in 1999, fully incorporated in 2002.
History of the EU• 1950- The European Coal and Steel Community began to unite European countries through common management of steel and coal industries• 1957- Treaty of Rome creates the European Economic Community or “Common Market” so people, goods and services could move freely across borders.• Members at this time: Belgium, France, West Germany, Italy, Luxembourg and the Netherlands
• 1973- Denmark, United Kingdom, and Ireland join.• 1981- Greece joins the EU• 1986- Spain and Portugal join• 1989- Berlin wall fell• 1990- Germany is united
• 1992- Maastricht Treaty- – set plans for a single currency. – Set clear rules for foreign and security policy as well as justice and national affairs. – Officially named “European Union”• 1995- Austria, Finland, and Sweden join
• 2002- Euro cash and coins introduced• 2004- Czech Republic, Cyprus, Estonia, Latvia, Lithuania, Hu ngary, Malta, Poland, Slovenia and Slovakia join• 2007- Bulgaria and Romania join
Joining the EU• Conditions for membership (Copenhagen criteria) – Free-Market Economy – Stable Democracy – Accept all EU laws – including the Euro – Submit application to the Council – Council must agree upon country’s acceptance in the EU
The Euro• Traditionally, each European nation had its own currency, or system of money, the switch to one currency (euro) solved many problems.• Problems solved by using the Euro: • No more exchanging money when a person went into another country. • Trading internationally became easier. • No more tariffs for exported goods • Tariff is a fee that must be paid on an exported goods, therefore making them more expensive.