What is the European Union (EU)?

  • Politico-economic union of 28 member states, operating through a system of supranational institutions incl. the European Parliament (elected every five years by EU citizens), the European Commission, the Court of Justice and the European Central Bank (ECB).
  • Operates a single market through a standardised system of laws allowing the free movement of people, goods, services, & capital, + common policies on trade, agriculture, fisheries & regional development.
  • Has developed a monetary union, with a single currency, the euro.
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