By Amarendra Bhushan

The European Union (EU) is a union of twenty-five independent states based on the European Communities and founded to enhance political, economic and social co-operation. Formerly known as European Community (EC) or European Economic Community (EEC).

Date of foundation: 1st November, 1993. New members since 1st January, 1995: Austria, Finland, Sweden. For the ten new members as of 1st May, 2004, see below.

Member states (EUR: Euro currency):

Austria (EUR)
Belgium (EUR)
Denmark
Finland (EUR)
France (EUR)
Germany (EUR)
Greece (EUR)
Ireland (EUR)
Italy (EUR)
Luxembourg (EUR)
Netherlands (EUR)
Portugal (EUR)
Spain (EUR)
Sweden
United Kingdom of Great Britain and Northern Ireland

It is not a State intended to replace existing states, but it is more than any other international organisation. The EU is, in fact, unique. Its Member States have set up common institutions to which they delegate some of their sovereignty so that decisions on specific matters of joint interest can be made democratically at European level.This pooling of sovereignty is also called "European integration".

There are five EU institutions:

European Parliament (elected by the peoples of the Member States);
Council of the European Union (representing the governments of the Member States);
European Commission (driving force and executive body);
Court of Justice (ensuring compliance with the law);
Court of Auditors (controlling sound and lawful management of the EU budget).

Other important bodies:

European Economic and Social Committee (expresses the opinions of organised civil society on economic and social issues);

Committee of the Regions (expresses the opinions of regional and local authorities);

European Central Bank (responsible for monetary policy and managing the euro);

European Ombudsman (deals with citizens' complaints about maladministration by any EU institution or body);

European Investment Bank (helps achieve EU objectives by financing investment projects);

Much of the co-operation between EU countries was about trade and the economy, but now the EU also deals with many other subjects of direct importance for our everyday life, such as citizens' rights; ensuring freedom, security and justice; job creation; regional development; environmental protection; making globalisation work for everyone.

The European Union has delivered half a century of stability, peace and prosperity. It has helped to raise living standards, built a single Europe-wide market, launched the single European currency, the euro, and strengthened Europe's voice in the world.

Unity in diversity: Europe is a continent with many different traditions and languages, but also with shared values. The EU defends these values. It fosters co-operation among the peoples of Europe, promoting unity while preserving diversity and ensuring that decisions are taken as close as possible to the citizens.

In the increasingly interdependent world of the 21st century, it will be even more necessary for every European citizen to co-operate with people from other countries in a spirit of curiosity, tolerance and solidarity.

The euro is the name of the single European currency that was put into circulation on 1 January 2002. The symbol of the euro is €.

The euro has replaced the old national currencies in 12 European Union countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.

Having a single currency makes it easier to travel and to compare prices, and it provides a stable environment for European business, stimulating growth and competitiveness.

You can travel, study and work wherever you want in the 15 European Union countries, if you are an EU citizen. The EU is working constantly to give its citizens greater freedom of movement as a fundamental right and to get rid of all discrimination based on nationality.

In most of the EU you can travel without carrying a passport and without being stopped for checks at the borders. With very few exceptions, you may buy anything you want anywhere you want and take it all back home with you.

The EU does not decide what you learn in school, but it does work to ensure that your educational and professional qualifications are properly recognised in other EU countries. The EU is working to provide access to learning opportunities for everyone, at home and abroad, through partnerships and exchange schemes and by removing bureaucratic obstacles. Over a million young people have taken advantage of EU programmes, such as "ERASMUS", to pursue their studies and personal development in another European country.

European industry will not be able to provide more jobs unless the economic conditions are right. And the right conditions are exactly what the Union is working to achieve.

By creating a frontier-free single market and a single currency, the euro, the EU has already given a significant boost to trade and employment in Europe. It has an agreed strategy for stimulating growth and generating more and better jobs. Tomorrow's jobs will be created through research, training and education, a spirit of entrepreneurship, adaptability to new working methods and equal opportunities for everybody.

A third of the entire EU budget is taken up by the Structural Funds which promote growth and jobs in less well-off regions, in order to ensure that wealth in Europe is more evenly distributed.

Number of votes in Council/Number of members of Parliament:

Belgium 12/24
Cyprus 4/6
Czech Republic 12/24
Denmark 7/14
Germany 29/99
Greece 12/24
Spain 27/54
Estonia 4/6
France 29/78
Hungary 12/24
Ireland 7/13
Italy 29/78
Latvia 4/9
Lithuania 7/13
Luxembourg 4/6
Malta 3/5
Netherlands 13/27
Austria 10/18
Poland 27/54
Portugal 12/24
Slovakia 7/14
Slovenia 4/7
Finland 7/14
Sweden 10/19
United Kingdom 29/78
TOTAL 321/732

Meet Amarendra Bhushan, A leading Strategic Human Resource Consultent, MBA from American university of athens, greece, also editing The European journal of NRI finance magazine (The TRIBUNE).As one of the leading article writer, and corporate hotel professional. Advisor to various organizations and hotels. He is an elected member of south Indian hotel and restaurant federation. Now staying at ancient city of Athens Greece.PH-0030-6947667507 abdhirajATmail.gr