The European Union (EU) was established in 1993 by the Maastricht Treaty. It currently consists of 27 member states, making it the world's largest single market. With a population of around 450 million people and a GDP of 16 trillion euros, if the EU were a country it would be third in the world in both of these indicators. The European Union is above all a political and economic partnership, with significant international influence, both economically and politically.
As the EU has grown, it has expanded its activities in areas such as environmental policy, cultural development, integration policy, international exchange, and human rights promotion. The EU has its own currency, the euro, used by 20 member states, and 22 member states have a free movement area with limited border controls called the Schengen Agreement. There are also 24 official languages used by the EU. The main institutions involved in EU legislation and policy are the European Parliament, the Council of the European Union, and the European Commission. While many member states score highly in terms of human development, democracy, and freedom, the growing threat of nationalism and authoritarianism in Europe, and the destabilizing effects of the war between Russia and Ukraine, are seen as the greatest threats to the stability of the EU.
history
After World War II, and decades of conflict, economic shocks, and political instability, Europe established a series of political and economic associations to promote peace, cooperation, and integration. The Council of Europe oversaw the suppression of nationalism and the promotion of democracy, while the European Coal and Steel Community dealt with economic and trade issues. These alliances were strengthened by the 1957 Treaty of Rome, which established the Customs Union along with the European Economic Community. These organizations were the precursors of the modern European Union and were the foundations that allowed the post-war decades to be the most prosperous in European history. At the core of these organizations were France, West Germany, Italy, and the Benelux countries, with France and Germany becoming the informal leaders of European integration. As the EEC economy outperformed most other Western European economies, membership became more attractive, especially for the United Kingdom, whose international influence had declined after the war. The United Kingdom joined in 1973, and other Western European countries joined by 1986.
The European Union was formally established in 1993, with German Chancellor Helmut Kohl and French President François Mitterrand as its central architects. This period also saw the collapse of communism and the subsequent transition to democracy in Eastern Europe. The Copenhagen Standards were therefore created to ensure that future member states meet certain economic, political and human rights qualifications in order to join the EU. By 1995, most Western European countries had joined the European Union, with the main exceptions being Norway and Switzerland. The Eurozone was launched in 2002, creating a single currency area across much of Europe. Unfortunately, the 2009 European debt crisis meant that the economic woes of some euro area countries (particularly Greece) had strong spillover effects across the EU. From 2004 to 2013, many former Eastern Bloc countries also became members of the EU. The entry of 13 relatively economically weak countries into the EU triggered a wave of economic migration from these countries to the West, introducing new dynamics in European integration.
The future of the EU
Recent years have been a very turbulent time for the EU, with the 2016 Brexit referendum leading to the UK's withdrawal in 2020, followed by a difficult negotiation process. The COVID-19 pandemic has also highlighted a number of problems within the EU system, with bureaucracy slowing vaccine distribution across the bloc. However, the EU spent more than 10% of its GDP during this period on economic relief during the COVID pandemic, which was also essential to maintaining economic stability. It is also pushing for greater digitalization and innovation, with the aim of making Europe carbon neutral by 2050. The biggest threat to the EU today is a war between Russia and Ukraine, resulting in the rise of right-wing pro-Russian parties that threaten political unity within the bloc, or market turmoil and rising energy prices as a result of the war. etc. are occurring. Other challenges include climate change, illegal migration across the Mediterranean, AI regulation, and the war between Hamas and Israel.
This text provides general information. Statista assumes no responsibility for the completeness or accuracy of the information provided. Due to different update cycles, the statistics may show more current data than those referenced in the text.
