EUROPEAN UNION

Presented by
Shiwangini singh
MBA 4th semester
Roll no- 12
 Introduction
The European Union (EU) consists of a
group of countries that acts as one
economic unit in the world economy.
Nineteen of the countries use the Euro as
their official currency.
 It was established in 1993 by the Treaty of
Maastricht , adding new areas of policy to
the existing European Community.
The European Union's GDP was estimated
to be $18.8 trillion (nominal) in 2018,
representing ~22% of global economy
(Nominal global GDP).
 Founding members
The original members of what came to be
known as the European Communities were
the Inner Six
Belgium
France
 Italy
 Luxembourg
 The Netherlands and
 West Germany.
 History

In 1950, the concept of a European trade area was

first established. The European Coal and Steel
Community had six founding members: Belgium,
France, Germany, Italy, Luxembourg, and the
Netherlands.
In 1957, the Treaty of Rome established a common
market. It eliminated customs duties in 1968. It put
in place standard policies, particularly in trade and
agriculture. In 1973, the ECSC added Denmark,
Ireland, and the United Kingdom. It created its first
Parliament in 1979. Greece joined in 1981,
followed by Spain and Portugal in 1986.
In 1993, the Treaty of Maastricht established the
European Union common market. Two years later, the
EU added Austria, Sweden, and Finland. In 2004, twelve
more countries joined: Cyprus, Czech Republic, Estonia,
Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and
Slovenia. Bulgaria and Romania joined in 2007.
In 2009, the Treaty of Lisbon increased the powers of the
European Parliament. It gave the EU the legal authority
to negotiate and sign international treaties. It increased
EU powers, border control, immigration, judicial
cooperation in civil and criminal matters, and police
cooperation. It abandoned the idea of a European
Constitution. European law is still established by
international treaties
Purpose
The EU's purpose is to be more competitive
in the global marketplace. At the same
time, it must balance the needs of its
independent fiscal and political members.
Its 27 member countries are Austria,
Belgium, Bulgaria, Croatia, Cyprus, Czech
Republic, Denmark, Estonia, Finland,
France, Germany, Greece, Hungary, Ireland,
Italy, Latvia, Lithuania, Luxembourg, Malta,
Netherlands, Poland, Portugal, Romania,
Slovakia, Slovenia, Spain, and Sweden
 Goals
The goals of the European Union are:
promote peace, its values and the well-being of its citizens
offer freedom, security and justice without internal borders
sustainable development based on balanced economic
growth and price stability, a highly competitive market
economy with full employment and social progress, and
environmental protection
combat social exclusion and discrimination
promote scientific and technological progress
enhance economic, social and territorial cohesion and
solidarity among EU countries
respect its rich cultural and linguistic diversity
establish an economic and monetary union whose currency
is the euro
 The Single Market
Based on Four Freedoms:
Free movement of goods.
Free movement of capital.
Free movement of persons.
Free movement of services.
Single market has led's to
Significant reductions in the price of many
products and services, including airfares and
phone calls.
More choice for consumers.
Millions of new jobs.
More opportunities for businesses.
The euro – a single currency for
Europeans

• No fluctuation risk and foreign exchange

cost

• More choice and stable prices for

consumers

• Closer economic cooperation between EU

countries
Schengen - Free to move

No police or customs checks at borders

between most EU countries, and Norway,
Liechtenstein, Switzerland and Iceland.
Controls strengthened at the EU’s external
borders
More cooperation between police and
immigration authorities from different EU
countries
Buy and bring back any goods for personal
use when you travel between EU countries.
Governance
Three bodies run the European Union.
The European Union Council represents
national governments.
 The Parliament is elected by the people.
The European Commission is the European
Union staff. They make sure all members
act consistently in regional, agricultural,
and social policies. Contributions of 120
billion Euros a year from member states
fund the EU
 The EU in the world
Trade
The European Union is the largest trade block
in the world. It is the world's biggest exporter
of manufactured goods and services, and the
biggest import market for over 100 countries.
Free trade among its members was one of the
EU's founding principles. Beyond its borders,
the EU is also committed to liberalizing world
trade.
Humanitarian aid
The EU is committed to helping victims of
man-made and natural disasters worldwide
and supports over 120 million people each
Diplomacy and security
The EU plays an important role
in diplomacy and works to foster
stability, security and prosperity,
democracy, fundamental freedoms and
the rule of law at international level.
THANK YOU