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The 1990s also saw the further development of the euro. 1 January 1994 saw the second stage of the Economic and Monetary Union of the European Union begin with the establishment of the European Monetary Institute and at the start of 1999 the euro as a currency was launched and the European Central Bank was established. On 1 January 2002, notes ...
The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. [9] [10] [11] The union has a total area of 4,233,255 km 2 (1,634,469 sq mi) and an estimated total population of over 449 million.
1992 – Maastricht Treaty formally called the Treaty on European Union - The European Union is born and Euro was introduced as the fellow currency (Denmark and the UK are not included in the EMU (European Monetary Union)). 1993 – Copenhagen criteria defined; 1995 – Accession of Austria, Finland and Sweden; Schengen area established
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957, [note 1] aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union (EU) in 1993.
The Treaty on the Functioning of the European Union (TFEU) is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on European Union (TEU). It was previously known as the Treaty Establishing the European Community (TEC).
The European Parliament is one of the EU's three main political institutions, along with the European Council, which represents national governments of the 27 member states, and the European ...
The Communities originally had independent personalities although they were increasingly integrated, and over the years were transformed into what is now called the European Union. The six states that founded the three Communities were known as the "inner six" (the "outer seven" were those countries who formed the European Free Trade ...
The founding fathers of the European Union are men who are considered to be major contributors to European unity and the development of what is now the European Union. The number and list of the founding fathers of the EU varies depending on the source. In a publication from 2013 the European Union listed 11 men.