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The History of The European Union and The Euro

The European Union is a geopolitical entity that has an interesting story as well as its currency the euro does At first, let’s try to find out why the European Union (EU) was created. It was created to stop frequent and bloody wars between neighbors. After the Second World War, there was a movement to create unity between Germany and France. It became the foundations for the European Union forty years later. Nowadays there are 28 members. So, the European Union was established by the Maastricht Treaty on November 1st, 1993. The EU is an economic and political union between European countries that has its own policy that involves member’s economies, societies, laws and to some extent security. Some people believe that EU is a bureaucracy, which drains money, but others believe that the EU is the best way for small nations for economic growth or negotiations with larger nations.The European Union was not created in one day but was the result of a long evolution. In the 1950s began the unification of European countries economically and politically in order to secure a lasting peace. There were six founding countries at first: Belgium, France, Germany, Italy, Luxembourg and the Netherlands. It was called European Coal and Steel Community.In 1957 was signed the treaty of Rome. It created the European Economic Community. EEC created a common market among the members without tariffs or impediments to the flow of labor and goods. EEC was created to continue economic growth. After that, European countries continued improving their agreements and interactions. The European Union was created under its current name in 1993. Since then the community has grown in size because of new member states. The Euro is the official and single currency of the European Union. It is the common currency in 19 of 28 members of the EU. The euro was introduced in 1999 and it was a very important step in European integration. However, Banknotes and coins were introduced on 1 January 2002. Nowadays more than 337.5 million people use the euro every day. The European Central Bank manages monetary issues in the EU. Its main purpose is to maintain price stability.The advantages of the common currency are obvious. It makes much easier traveling abroad, shopping online on websites based in another EU country. Because of a single currency, the economy is more stable, the economy grows and consumers have more choice. A common currency is also a reason for people to travel in other countries. The euro is very important currency now.
The European Union is a geopolitical entity that has an interesting story as well as its currency the euro does At first, let’s try to find out why the European Union (EU) was created. It was created to stop frequent and bloody wars between neighbors. After the Second World War, there was a movement to create unity between Germany and France.
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12 December 2016
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