# European Union
Confidence: high
Last verified: 2026-05-22
Generation: ai_assisted


## TL;DR

The European Union is a political and economic union of 27 European countries, founded by the Maastricht Treaty (1993). Successor to the European Coal and Steel Community (1951, Schuman Declaration). Single market (free movement of goods, services, capital, people), common currency (Euro, 20 countries), shared laws.

## Core Explanation

Key institutions: European Commission (executive, proposes laws), European Parliament (elected, co-legislator), Council of the EU (member states, co-legislator), European Central Bank (monetary policy), European Court of Justice. Schengen Area: passport-free travel (25 countries). Brexit: UK left EU (Jan 31, 2020) — first member to leave. GDP: ~$18 trillion (2nd largest economy after US).

## Further Reading

- [European Union Official Website](https://european-union.europa.eu/)