Information on the European Union but only a brief introduction, use other resources to help with your understanding

1. The European Union
Union européenne

2. Brief History
• Started out as the European Coal and Steel
Community in 1951
▫ France, Germany, Italy, Benelux (Belgium, Netherlands, Luxembourg)
• In 1958 it became the EEC (European Economic
Community)
• 1993 the Maastricht Treaty established the
European as it is today

3. Accession to the EU
• 1951 Germany, France, Italy, Benelux
• 1973 Denmark, Ireland, UK
• 1981 Greece
• 1986 Portugal, Spain
• 1995 Austria, Finland, Sweden
• 2004 Cyprus, Czech Republic, Estonia,
Hungary, Latvia, Lithuania, Malta,
Poland, Slovakia, Slovenia
• 2007 Bulgaria, Romania

5. European Bodies
• European Union
▫ Monetary and Political Union which has
numerous currencies and legislation
▫ (27 Members)
• Eurozone
▫ Monetary Union, with policy controlled from the
European Central Bank in Frankfurt. Nations use
the Euro
▫ 17 Members

6. European Bodies
• Schengen Area
▫ Group of countries which have had Passport
controls relaxed allowing true freedom of
movement (Common Borders Only)
▫ 22 EU Members and 4 Non Members
▫ 3 Countries are legally bound to join

7. European Union Economics
• Worlds biggest economy
▫ GDP: $15.821 Trillion
▫ GDP per Capita: $31,607
▫ Population: 501 Million
▫ Gini: 30.4 (Medium)
▫ HDI 0.876 (Very High)

8. European Union Leaders
President of the European Council President of the Commission
Herman Van Rompuy José Manuel Barroso

9. Eurozone
• Economic Information
▫ GDP: €9.4 trillion
▫ Interest Rate: 0.75%
▫ Inflation: 1.6%
▫ Unemployment: 11.7%
▫ Trade Balance: €81.8 billion surplus
• Monetary Policy is controlled European Central
bank
• Currently 17 Members

10. European Central Bank
• Based in Frankfurt
• President is Mario Draghi
• It is the Central Bank of 17 Countries
• Currently holds €526 billion in reserves