In a bid to resolve frequent wars in the neighborhood of Europe, the European Union was formed. It is a geopolitical set up comprising of 28 member stats located in Europe. The European Union provides more foreign aid than any other economic union of the worlds. 7.3% of the world population resides in the EU. It generates a combine GDP of $16.477 Trillion every year.
Through successive enlargements, the European Union has grown from the six founding states (Belgium - France - West Germany - Italy - Luxembourg, and the Netherlands) to the current 28. Countries accede to the union by becoming party to the founding treaties, thereby subjecting themselves to the privileges and obligations of EU membership.
The other 22 Counties are Austria – Bulgaria – Croatia – Cyprus - Czech Republic – Denmark – Estonia – Finland – Greece – Hungary – Ireland – Latvia – Lithuania – Malta – Poland – Portugal – Romania - Slovakia – Slovenia - Spain – Sweden – United Kingdom
It is an Emerging Superpower with surplus benefits in terms of investments, welfare and social benefits.
The euro (€) is the official currency of 19 out of 28 EU member countries. These countries are collectively known as the Eurozone.
Member Schengen Border Free Area
Established in the year 1995, Schengen area is formed as a result of Schengen Agreement between 26 different European unions to allow free movement of people between member countries- effectively removing border control. The Schengen Area is one of the greatest achievements of the EU.
Through this Schengen Agreement, 26 different European nations, acknowledged the abolishment of their internal borders with other member nations and outside, for the free and unrestricted movement of people, goods, services, and capital, in harmony with common rules for controlling external borders and fighting criminality by strengthening common judicial system and police cooperation.
The 26 Members of Schengen Zone are – Austria – Belgium – Czech Republic – Denmark – Estonia – Finland – France – Germany – Greece – Hungary – Iceland – Italy – Latvia – Lithuania – Luxembourg – Malta – Netherlands – Norway – Poland – Portugal – Slovakia – Slovenia – Spain – Sweden –Switzerland.
Benefits of Schengen Regions:
The abolishment of borders between European countries has the following benefits:
- Nationals of any country are free from border checks in order to liberally cross the internal borders of the Schengen countries.
- Shared standards for crossing the external borders of Schengen countries.
- Harmonized entry and short-stay visa conditions for all Schengen countries.
- Privileged judicial collaboration between Schengen countries, including a faster extradition of criminals, and easier relocation for execution of criminal verdicts.
- An advanced shared database, assisting member countries to quickly exchange information about people and goods between them, known as (SIS) The Schengen Information System.