The European Union is a political and economic union of 27 member states that are committed to democracy, human rights, rule of law, and peace. Member states make joint decisions on policies related to areas like trade, agriculture, environment, and more. They also follow common rules and regulations as part of the EU. The EU was formed to promote cooperation and economic integration between European countries. Over time, more countries joined and the EU took on more policy areas of cooperation, including establishing a common currency, the euro, which is now used by 19 member states.
2. 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
3. • 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.
4. • 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.
5. 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
6. • 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
7. • 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
8. • 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
9. 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
10. 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.
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.
