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In todays world different kinds of alliances are formed between countries and nations in order to compete in a global economy The European Union is a one of kind allegiance that has shaped many aspects of our current world Recent developments along with the strengths and weaknesses of the European Union will be the focus of this paper Before discussing current events a brief overview of who and what is the European Union EU is vital On May 9th 1950 The EU was formed by the joining of six countries which were Belgium Germany France Italy Luxembourg and the Netherlands with the foundation of the law of democracy The basic concept of the EU states that it is neither a new State replacing existing ones nor is it comparable to other international organizations Its Member States delegate sovereignty to common institutions representing the interests of the Union as a whole on questions of joint interest All decisions and procedures are derived from the basic treaties ratified by the Member States Today after four waves of accession 1973 Denmark Ireland and the United Kingdom 1981 Greece 1986 Spain and Portugal 1995 Austria Finland and Sweden the EU has 15 Member States and is preparing for the accession of 13 eastern and southern European countries EU at a glance The foundation and structure of the EU is definitely one of its strengths The EU has some basic principals which include establishing European citizenship This embraces fundamental rights freedom of movement and civil and political rights It also wants to ensure freedom security and justice Like other unions the EU definitely wants to encourage economic and social progress and finally assert Europes role in the world Having well defined goals and showing character and conviction the EU demonstrates inner strength The EU is governed by five institutions each having a specific function They are the European Parliament which is elected by the people of the Member
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