European Union/European Community (EU)
European Union/European Community (EU) : An association of European countries, dedicated to increasing economic integration and the strengthening of cooperation among its members. It was established on 1 November 1993, with the ratification of the Treaty on European Union' (the Maastricht Treaty) by the twelve members of the original European Community (EC). These were Belgium, Denmark, France, Germany, United Kingdom, Greece, Ireland, Italy, Luxembourg, The Netherlands, Portugal and Spain. Austria, Finland and Sweden were to come on board in 1994. Through ratification of the treaty, the EC countries became the EU countries, with the former EC machinery becoming the decision- making body of the EU. The Treaty on European Union allows for: (a) European citizenship to be granted to citizens of each state; (b) The enhancement of customs and immigration agreements to allow European citizens greater freedom to live, work and study in any of the member states, and (c) The relaxation of border controls. Since 1 January 2002 most of the EU member states have adopted a single currency - the euro. The EC, which preceded the EU, was a 1957 merger of the European Coal and Steel Community (ECSC), European Economic Community (EEC) and the European Atomic Energy Community (Eurotom). The EC has eliminated most tariffs among members, established a common external tariff, harmonized some fiscal and monetary policies, and
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