The European Union (EU) The World’s Strongest Supranational Organization (A supranational union is a type of multi-national organization where negotiated power is delegated to an authority by governments of member states.)

What is it? The European Union (EU) is a group of democratic European countries, committed to working together for peace and prosperity. It was formed to unite Europe and benefit it economically.

History of the EU The historical roots of the EU lie in the Second World War. Idea of European integration conceived to prevent such killing and destruction from ever happening again

History of the EU European Economic Cooperation ~ formed in 1948 European countries could rebuild faster post WWII if they worked together.

History of the EU In 1957, some European Countries sought even closer economic ties. The European Economic Community (EEC) was formed. The first 6 countries to join were Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. The EEC was a common market, meaning countries within the group could trade across borders without restrictions or tariffs.

History of the EU In 1992, the EU was formally created. By 2010 it had 27 member nations with a total of more than 500 million people. Today, there are 28 member countries.

The European Union

GROWTH OF THE EU

European Union

European Union 1958 Belgium, France, West Germany, Italy, Luxembourg, Netherlands 1973 Ireland, Denmark , United Kingdom 1981 Greece 1986 Portugal, Spain 1995 Austria, Finland, Sweden 2004 Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia 2007 Bulgaria, Romania 2013 Croatia

European Union In June of 2016, the UK had a vote on whether or not to remain a part of the EU (Brexit). 52% of those who voted in the UK elected to leave the EU, the process of which could take up to 4 years to complete. (Scotland and Northern Ireland voted to remain.)

European Union~ Brexit

European Union~ Brexit

The Euro common currency created by the EU name “Euro” was selected in 1995 in January 1999, the exchange rates of the participating currencies were set and Euro area Member States began using the Euro. in January 2002, 12 States in the EU introduced the new euro banknotes and coins single currency means lower fees for doing business.

The Euro

How does it work? The EU has a government with executive, legislative, and judicial branches.

How does it work? There are five EU institutions, each playing a specific role: European Parliament (one of two legislative bodies in the EU; elected by the peoples of the Member States)  Council of the European Union (EU’s highest Legislative Body; has legislative initiative; is made up of representatives appointed by member states according to a population-based allotment)  European Commission (EU’s executive body; one commissioner per country appointed by each government)  Court of Justice (ensures compliance with the EU laws)  Court of Auditors (manages the EU budget)

Requirements to Join The country must have a stable democracy that respects human rights.

Costs of staying out Export problems Access to EU markets is not guaranteed Inflation problems Losing workers to other countries Losing trade advantages Potential loss of tourism Scientific information lag EU scientific exchange programs accept Swiss citizens only if they fail to fill such exchanges with persons from EU countries