European Union

It is an economic and political association consisting of 28 European countries. Also, 19 of these countries share a currency: the euro. The european union is characterized by freedom of movement of people, goods, services and capital. It is also known by its acronym EU.

The first steps towards the european union were produced with the European Coal and Steel Community (ECSC), around 1950s.

Seven years later there would be constituted the European Economic Community (EEC), whose founder countries would be: Germany, Belgium, France, Italy, Luxembourg and the Netherlands.

Later on, the 1st of January of 1973 Denmark, Ireland and United Kingdom would join and afterwards would come Greece (1981), and Spain and Portugal in 1986. This same year the free movement of goods treaty was signed.

In 1993, such free movement of people, goods, services and capitals would be extended.

Two years later, Austria, Finland and Sweden would become a part of the european union.

The 1st of July, 2013 Croatia joined.

In the year 2000 most of the countries (10 specifically) would take an important step forward with the introduction of the same currency called the euro.

Nowadays, there are four candidates to enter: Iceland, Former Yugoslav Republic of Macedonia, Montenegro and Turkey.


The European Union Explained*

The European Union Explained*

Los riesgos de la deflación

Los riesgos de la deflación