Research debunks myths about migration and return

Since the 1990s, the European Union has worked intensively with non-EU countries to discourage irregular migration and promote the return of irregular migrants. Despite years of efforts, recent research shows that migrant ...

Methane emissions are rising faster than ever, research shows

The world has not hit the brakes on methane emissions, a powerful driver of climate change. More than 150 nations have pledged to slash by 30% this decade under a global methane pledge, but new research shows global methane ...

More frequent financial reporting benefits investors

When it comes to financial reporting, how much information is too much? Public companies in the U.S. file reports every three months to comply with the rules of the Securities and Exchange Commission.

Fisheries research overestimates global fish stocks, say experts

Many fish stocks around the world are either threatened by overfishing or have already collapsed. One of the main reasons for this devastating trend is that policymakers have often ignored the catch limits calculated by scientists, ...

EU sends water bomber planes to fight Madeira wildfires

The European Union said Thursday that two water bomber planes were headed for the Atlantic island of Madeira to bolster firefighting efforts following an emergency request from the Portuguese government.

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European Union

The European Union (EU) is an economic and political union of 27 member states, located primarily in Europe. Committed to regional integration, the EU was established by the Treaty of Maastricht on 1 November 1993 upon the foundations of the pre-existing European Economic Community. With almost 500 million citizens, the EU combined generates an estimated 30% share (US$18.4 trillion in 2008) of the nominal gross world product.

The EU has developed a single market through a standardised system of laws which apply in all member states, ensuring the freedom of movement of people, goods, services and capital. It maintains common policies on trade, agriculture, fisheries and regional development. A common currency, the euro, has been adopted by sixteen member states that are thus known as the Eurozone. The EU has developed a limited role in foreign policy, having representation at the WTO, G8 summits, and at the UN. It enacts legislation in justice and home affairs, including the abolition of passport controls between many member states which form part of the Schengen Area. Twenty-one EU countries are also members of NATO.

An international organisation sui generis, the EU operates through a hybrid system of supranationalism and intergovernmentalism. In certain areas, it depends upon agreement between the member states; in others, supranational bodies are able to make decisions without unanimity. Important institutions and bodies of the EU include the European Commission, the Council of the European Union, the European Council, the European Court of Justice, and the European Central Bank. The European Parliament is elected every five years by member states' citizens, to whom the citizenship of the European Union is guaranteed.

The EU traces its origins to the European Coal and Steel Community formed among six countries in 1951 and the Treaty of Rome in 1957. Since then the union has grown in size through the accession of new countries, and new policy areas have been added to the remit of the EU's institutions.

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