European Union

European Union

Intergovernmental organization

Motto
United in Diversity

Anthem
Ode to Joy

←

Maastricht Treaty:
European Communities

Capital

Brussels

Status

Intergovernmental organization

President of the Council

- From 2009

Herman Van Rompuy

President of the Commission

- 1993-1995

Jacques Delors

- 1995-1999

Jacques Santer

- 1999-2004

Romano Prodi

- From 2004

José Manuel Barroso

Legislature

Legislature

- Upper house

Council of Ministers

- Lower house

European Parliament

History

- January 1, 1958

Rome Treaty

- November 1, 1993

Maastricht Treaty

- May 1, 1999

Amsterdam Treaty

- February 1, 2003

Nice Treaty

- December 1, 2009

Lisbon Treaty

Area

4,324,782 km²

Population

- 2010

501,064,211

Density

115.8/km²

GDP

2010 (PPP)

- Total

US$ 14,896.1 billion

- Per capita

US$ 29,729

Currency

Euro

European Communities

WEU

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Background

Following the two devastating World Wars in the first half of the 20th century, a number of European leaders in the late 1940s became convinced that the only way to establish a lasting peace was to unite the two chief belligerent nations - France and Germany - both economically and politically. In 1950, the French Foreign Minister Robert SCHUMAN proposed an eventual union of all Europe, the first step of which would be the integration of the coal and steel industries of Western Europe. The following year the European Coal and Steel Community (ECSC) was set up when six members, Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands, signed the Treaty of Paris.

The ECSC was so successful that within a few years the decision was made to integrate other elements of the countries' economies. In 1957, envisioning an "ever closer union," the Treaties of Rome created the European Economic Community (EEC) and the European Atomic Energy Community (Euratom), and the six member states undertook to eliminate trade barriers among themselves by forming a common market. In 1967, the institutions of all three communities were formally merged into the European Community (EC), creating a single Commission, a single Council of Ministers, and the body known today as the European Parliament. Members of the European Parliament were initially selected by national parliaments, but in 1979 the first direct elections were undertaken and they have been held every five years since.

In 1973, the first enlargement of the EC took place with the addition of Denmark, Ireland, and the United Kingdom. The 1980s saw further membership expansion with Greece joining in 1981 and Spain and Portugal in 1986. The 1992 Treaty of Maastricht laid the basis for further forms of cooperation in foreign and defense policy, in judicial and internal affairs, and in the creation of an economic and monetary union - including a common currency. This further integration created the European Union (EU), at the time standing alongside the European Community. In 1995, Austria, Finland, and Sweden joined the EU/EC, raising the membership total to 15.

A new currency, the euro, was launched in world money markets on 1 January 1999; it became the unit of exchange for all EU member states except the United Kingdom, Sweden, and Denmark. In 2002, citizens of those 12 countries began using euro banknotes and coins. Ten new countries joined the EU in 2004 - Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia - and in 2007 Bulgaria and Romania joined, bringing the membership to 27, where it stands today.

In an effort to ensure that the EU could function efficiently with an expanded membership, the Treaty of Nice (signed in 2000) set forth rules aimed at streamlining the size and procedures of EU institutions. An effort to establish a "Constitution for Europe," growing out of a Convention held in 2002-2003, foundered when it was rejected in referenda in France and the Netherlands in 2005. A subsequent effort in 2007 incorporated many of the features of the rejected Constitution while also making a number of substantive and symbolic changes. The new treaty, initially known as the Reform Treaty but subsequently referred to as the Treaty of Lisbon, sought to amend existing treaties rather than replace them. The treaty was approved at the EU intergovernmental conference of the 27 member states held in Lisbon in December 2007, after which the process of national ratifications began. In October 2009, an Irish referendum approved the Lisbon Treaty (overturning a previous rejection) and cleared the way for an ultimate unanimous endorsement. Poland and the Czech Republic signed on soon after. The Lisbon Treaty, again invoking the idea of an "ever closer union," came into force on 1 December 2009 and the European Union officially replaced and succeeded the European Community.^[1]

Economy

Internally, the EU has abolished trade barriers, adopted a common currency, and is striving toward convergence of living standards. Internationally, the EU aims to bolster Europe's trade position and its political and economic power. Because of the great differences in per capita income among member states (from $7,000 to $78,000) and in national attitudes toward issues like inflation, debt, and foreign trade, the EU faces difficulties in devising and enforcing common policies. Eleven established EU member states, under the auspices of the European Economic and Monetary Union (EMU), introduced the euro as their common currency on 1 January 1999 (Greece did so two years later), but the UK and Denmark have 'opt-outs' that allow them to keep their national currencies, and Sweden has not taken the steps needed to participate. Between 2004 and 2007, the EU admitted 12 countries that are, in general, less advanced economically than the other 15. Of the 12 most recent member states, only Slovenia (1 January 2007), Cyprus and Malta (1 January 2008), Slovakia (1 January 2009), and Estonia (1 January 2011) have adopted the euro; the remaining states other than the UK and Denmark are legally required to adopt the currency upon meeting EU's fiscal and monetary convergence criteria. The EU has recovered from the global financial crisis faster than expected, with business investment growing by an estimated 2% in 2010, but with public investment and housing development lagging. Strong corporate profits should enable this recovery to continue in 2011. Nevertheless, significant risks to growth remain, including, high official debts and deficits, aging populations, over-regulation of non-financial businesses, and doubts about the sustainability of the EMU. In June 2010, prompted by the Greek financial crisis, the EU and the IMF set up a $1 trillion bailout fund to rescue any EMU member in danger of default, but it has not calmed market jitters that have diminished the value of the euro. Discussions are currently under way to create a permanent European Stabilisation Mechanism (ESM) in 2013, when the existing European Financial Stability Facility expires.^[2]

President of the Council

Herman Van Rompuy (₩) (December 1, 2009 - )

President of the Commission

Jacques Delors (₩) (November 1, 1993 - January 5, 1995)
Jacques Santer (₩) (January 5, 1995 - September 15, 1999)
Romano Prodi (₩) (September 15, 1999 - November 22, 2004)
José Manuel Barroso (₩) (November 22, 2004 - )

Nation

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Nations

Member states[]

Country	Area	Population	GDP per capita	Capital
Austria	83,872	8,356,707	$39,454	Vienna
Belgium	30,528	10,827,519	$35,534	Brussels
Bulgaria	110,993	7,576,751	$12,052	Sofia
Croatia	56,594	4,486,881	$17,609	Zagreb
Cyprus	9,248	803,147	$27,713	Nicosia
Czech Republic	78,866	10,674,947	$24,832	Prague
Denmark	43,098	5,557,709	$36,336	Copenhagen
Estonia	45,228	1,340,021	$17,908	Tallinn
Finland	338,424	5,374,781	$34,044	Helsinki
France	543,965	63,136,180	$33,678	Paris
Germany	357,021	81,757,600	$34,212	Berlin
Greece	131,990	11,305,118	$28,834	Athens
Hungary	93,028	9,992,339	$18,566	Budapest
Ireland	70,273	4,470,700	$39,468	Dublin
Italy	301,338	60,418,711	$29,109	Rome
Latvia	64,589	2,217,969	$10,630	Riga
Lithuania	65,200	3,244,000	$16,481	Vilnius
Luxembourg	2,586	502,202	$80,304	Luxembourg
Malta	316	412,966	$23,662	Valletta
Netherlands	41,848	16,649,400	$39,938	Amsterdam
Poland	312,685	38,192,000	$18,705	Warsaw
Portugal	92,090	10,647,267	$22,027	Lisbon
Romania	238,391	21,959,278	$11,767	Bucharest
Slovakia	49,035	5,429,763	$16,281	Bratislava
Slovenia	20,273	2,048,951	$27,900	Ljubljana
Spain	504,030	46,030,109	$29,651	Madrid
Sweden	449,964	9,354,462	$36,502	Stockholm
United Kingdom	243,610	62,041,708	$35,720	London