Legal Definitions - EU

Term: EU

Definition: The EU stands for the European Union, which is a political and economic union of 27 member states located primarily in Europe. It was established in 1993 with the aim of promoting peace, stability, and economic prosperity in Europe.

Examples:

• France, Germany, Italy, and Spain are all member states of the EU.
• The EU has its own currency, the euro, which is used by 19 member states.
• The EU has a single market, which allows for the free movement of goods, services, capital, and people within its member states.

The examples illustrate how the EU is a union of countries that work together to promote peace, stability, and economic prosperity. The EU has its own currency and a single market, which allows for easier trade and movement between member states. By working together, the EU aims to create a stronger and more united Europe.