European Union

The European Union (pronunciation: /ˌjʊərəˈpiːən ˈjuːnjən/) is a political and economic union of 27 member states that are located primarily in Europe. The EU has developed an internal single market through a standardized system of laws that apply in all member states in those matters, and only those matters, where members have agreed to act as one.

Etymology

The term "European Union" is derived from the Latin words "Europa" (Europe) and "unio" (union), signifying the unity of European nations.

Related Terms

Member State: A country that is part of the European Union.
European Commission: The executive branch of the European Union, responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.
European Parliament: The legislative branch of the European Union and one of its seven institutions. Together with the Council of the European Union, it adopts European legislation, normally on a proposal from the European Commission.
Council of the European Union: The third of the seven institutions of the European Union as listed in the Treaty on European Union. It is part of the essentially bicameral EU legislature and represents the executive governments of the EU's member states.
Eurozone: The group of European Union nations whose national currency is the euro.
Brexit: The withdrawal of the United Kingdom from the European Union and the European Atomic Energy Community at the end of January 2020.