The European Union (EU) is a political and economic union of 27 member states located primarily in Europe. It was established in 1993 with the goal of promoting peace, stability, and economic prosperity among its members. The EU operates through a system of supranational institutions and intergovernmental decision-making, with the European Commission, European Council, and European Parliament being the main governing bodies.
One of the key objectives of the EU is to create a single market for goods, services, capital, and labor within its member states. This has led to the adoption of common policies and regulations in areas such as trade, agriculture, transportation, and consumer protection. The EU also has its own currency, the euro, which is used by 19 member states.
In addition to economic integration, the EU also aims to promote social and cultural cooperation among its members. This includes initiatives such as free movement of people within the EU's borders and programs for education and cultural exchange.
The EU has played a significant role in global affairs through its foreign policy and development aid programs. It also works closely with international organizations such as the United Nations and NATO to address global challenges such as climate change, terrorism, and human rights issues.
