Quick Definition

The European Union (EU) is a political and economic union of 27 European countries that operates a single market allowing free movement of goods, services, capital, and people.

Examples

• 1The Euro (EUR) is the official currency for 19 of the 27 EU member countries, facilitating easier trade and economic stability across these nations.
• 2EU policies on agricultural subsidies under the Common Agricultural Policy (CAP) support farmers and influence food prices within the union.
• 3The Schengen Area, part of the EU framework, allows citizens to travel passport-free across member countries, boosting tourism and business travel.
• 4EU regulations on consumer rights and data protection, such as the General Data Protection Regulation (GDPR), set high standards that affect businesses and consumers.

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