the European Union (EU): regional integration bloc with most member countries in 21st century

The European Union (EU) is a unique economic and political partnership, comprised of 27 European countries that have decided to delegate part of their sovereignty to common institutions to make decisions of shared interest. It was born after World War II with a simple yet powerful idea: countries that trade with each other are less likely to go to war. Its pillars of success are twofold, with tangible achievements for citizens and businesses. The Eurozone (Monetary Union) is the group of EU countries that have adopted the euro (EUR) as their official currency, with the aim of eliminating currency exchange costs, facilitating cross-border trade, and providing economic stability. It encompasses 20 EU countries that use the euro. The Schengen Area (Free Movement) is one of the EU's greatest advantages. It has allowed for the elimination of internal borders, permitting travel, work, and residence in any country within the bloc without border controls. Its scope is broader than the EU and also includes the EFTA countries.

Pagina's: 68, Paperback, Our Knowledge Publishing