InformationEuropean Union
The European Union (E.U.) is an economic and political union of 28 member states that are located primarily in Europe. E.U. operates through a system of supranational independent institutions and intergovernmental negotiated decisions by the member states. Institutions of the E.U. include the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, the European Central Bank, the Court of Auditors, and the European Parliament. The European Parliament is elected every five years by E.U. citizens.
E.U. traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by the Inner Six countries in 1951 and 1958, respectively. In the intervening years the community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. The Maastricht Treaty established the European Union under its current name in 1993. The latest major amendment to the constitutional basis of the E.U., the Treaty of Lisbon, came into force in 2009.
E.U. has developed a single market through a standardised system of laws that apply in all member states. Within the Schengen Area (which includes 22 E.U. and 4 non E.U. states) passport controls have been abolished. E.U. policies aim to ensure the free movement of people, goods, services, and capital, enact legislation in justice and home affairs, and maintain common policies on trade, agriculture, fisheries, and regional development.
The monetary union was established in 1999 and came into full force in 2002. It is currently composed of 18 member states that use the euro as their legal tender. Through the Common Foreign and Security Policy the E.U. has developed a role in external relations and defence. The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the WTO, the G8, and the G-20.
E.U. is considered to be a potential superpower. With a combined population of over 500 million inhabitants or 7.3% of the world population, E.U. in 2012 generated a nominal gross domestic product (GDP) of 16.584 trillion US dollars, constituting approximately 23% of global nominal GDP and 20% when measured in terms of purchasing power parity, which is the largest nominal GDP and GDP PPP in the world. E.U. was the recipient of the 2012 Nobel Peace Prize.
E.U. is comprised of the following 28 sovereign member states:
Name Capital Accession Population Area (sq. km)
AustriaVienna01/01/19958,451,90083,855
BelgiumBrusselsFounder11,161,60030,528
BulgariaSofia01/01/20077,284,600110,994
CroatiaZagreb01/07/20134,262,10056,594
CyprusNicosia01/05/2004865,9009,251
Czech RepublicPrague01/05/200410,516,10078,866
DenmarkCopenhagen01/01/19735,602,60043,075
EstoniaTallinn01/05/20041,324,80045,227
FinlandHelsinki01/01/19955,426,700338,424
FranceParisFounder65,633,200674,843
GermanyBerlinFounder80,523,700357,021
GreeceAthens01/01/198111,062,500131,990
HungaryBudapest01/05/20049,908,80093,030
IrelandDublin01/01/19734,591,10070,273
ItalyRomeFounder59,685,200301,338
LatviaRiga01/05/20042,023,80064,589
LithuaniaVilnius01/05/20042,971,90065,200
LuxembourgLuxembourgFounder537,0002,586
MaltaValetta01/05/2004421,400316
NetherlandsAmsterdamFounder16,779,60041,543
PolandWarsaw01/05/200438,533,300312,685
PortugalLisbon01/01/198610,487,30092,390
RomaniaBucharest01/01/200720,057,500238,391
SlovakiaBratislava01/05/20045,410,80049,035
SloveniaLjubljana01/05/20042,058,80020,273
SpainMadrid01/01/198646,704,300504,030
SwedenStockholm01/01/19959,555,900449,964
United KingdomLondon01/01/197363,730,100243,610
The information contained in this Site has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this newsletter. AlfaZeda Associates Limited would be pleased to advise readers on how to apply the principles set out in this newsletter to their specific circumstances. AlfaZeda Associates Limited accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this newsletter.
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The information contained in this Site has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this newsletter. AlfaZeda Associates Limited would be pleased to advise readers on how to apply the principles set out in this newsletter to their specific circumstances. AlfaZeda Associates Limited accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this newsletter.