European Union (EU)

The European Union (EU) is a political and economic union of 27 European countries. Created by the Maastricht Treaty, which came into effect in 1993, the EU has its own currency, the euro, used by 19 of the member countries. The EU aims to ensure peace, promote social and economic growth, and foster a sense of unity among the member states. It focuses on areas such as standardization of laws, economic policy, justice and home affairs, and maintaining common policies on trade, agriculture, and fisheries. The European Parliament, European Commission, and European Council are key institutions in its governance structure.