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Portal:European Union

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The European Union (EU) is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2 (1,728,099 sq mi) and an estimated population of about 513 million. The EU has developed an internal single market through a standardised system of laws that apply in all member states in those matters, and only those matters, where members have agreed to act as one. EU policies aim to ensure the free movement of people, goods, services and capital within the internal market, enact legislation in justice and home affairs and maintain common policies on trade, agriculture, fisheries and regional development. For travel within the Schengen Area, passport controls have been abolished. A monetary union was established in 1999 and came into full force in 2002 and is composed of 19 EU member states which use the euro currency.

The EU and European citizenship were established when the Maastricht Treaty came into force in 1993. The EU traces its origins to the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), established, respectively, by the 1951 Treaty of Paris and 1957 Treaty of Rome. The original members of what came to be known as the European Communities were the Inner Six: Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. The Communities and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. The latest major amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009. While no member state has left the EU or its antecedent organisations, the United Kingdom signified an intention to leave after a membership referendum in June 2016 and is negotiating its withdrawal.

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The euro (currency sign: ; currency code: EUR) is the official currency of the European Union (EU). Nineteen member states have adopted it, known collectively as the Eurozone (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain). The currency is also used in five further countries with formal agreements and six other countries without such agreements. Hence it is the single currency for over 320 million Europeans. Including areas using currencies pegged to the euro, the euro directly affects close to 500 million people worldwide. With more than €610 billion in circulation as of December 2006 (equivalent to US$802 billion at the exchange rates at the time), the euro is the currency with the highest combined value of cash in circulation in the world, having surpassed the U.S. dollar (USD). Taking official estimates of 2007 GDP, the Eurozone is the largest economy in the world by March 2008 after the USD/EUR exchange rate surpassed 1.56.

The euro was introduced to world financial markets as an accounting currency in 1999 and launched as physical coins and banknotes on 1 January 2002. It replaced the former European Currency Unit (ECU) at a ratio of 1:1. The euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the Eurosystem (composed of the central banks of the euro zone countries). As an independent central bank, the ECB has sole authority to set monetary policy. The Eurosystem participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the Eurozone payment systems.

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Brussels

Brussels is the capital of Belgium, of the French Community of Belgium, of the Flemish Community, and is the headquarters of the European Union's institutions. Brussels is in the centre of Belgium, and also the largest municipality of the Brussels-Capital Region. This municipality inside Brussels is correctly named The City of Brussels, which is one of 19 municipalities that make up the Brussels-Capital Region, with a total population of 1,018,804 inhabitants (1 January 2006). The municipality has a population of about 140,000. The Metropolitan area has about 2,090,000 inhabitants. Brussels is also the political seat of NATO, the Western European Union (WEU) and EUROCONTROL, the European Organisation for the Safety of Air Navigation.

In 977 AD, the Holy Roman emperor Otto II gave the duchy of Lower Lotharingia on the empire's western frontier to Charles, the banished son of King Louis IV of France. Mention was already made of Brussels at the time: Bishop Saint-Gery of Cambrai-Arras settled a chapel on a small island (695). However, the founding of Brussels is usually said to be when a small castle was built by Charles around 979 on Saint-Géry island in the Zenne or Senne river.

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