The European Union (EU) is a political and economic union of member states located primarily in Europe. Established to promote integration and cooperation among its members, the EU enables the free movement of goods, services, capital, and people within its internal market. The union facilitates collaboration on policies ranging from trade and environmental regulation to security and human rights.
The EU has its origins in the aftermath of World War II, aiming to foster economic cooperation and prevent future conflicts. It was formally established by the Maastricht Treaty in 1993, although its foundations date back to earlier agreements in the 1950s. The EU operates through a series of governing institutions, including the European Commission, the European Parliament, and the Council of the European Union, which collectively enact legislation and policymakers.
As of 2023, the EU consists of 27 member countries, each participating in various levels of integration depending on their commitments. The Euro is the common currency used by 19 of these members, collectively known as the Eurozone. The EU also develops common policies on trade, agriculture, competition, and various areas impacting everyday life for its citizens, emphasizing the values of democracy and rule of law among its members.
The European Commission unveils a transformative €800 billion plan to strengthen Europe's defense capabilities. A central feature is a €150 billion joint borrowing initiative for cutting-edge technologies such as missile…