1. The European Union 630-647Objectives Identify countries within the EU Explain the political and economic structure of the EU What is the importance of the euro as a world currency? The European Union 630-647Objectives Identify countries within the EU Explain the political and economic structure of the EU What is the importance of the euro as a world currency? Chapter 6, Lesson 2

2. Schuman Plan- May 1950 France and Germany’s coal and steel industries under joint control If the two countries’ defense industries were merged, they presumably couldn’t go to war with each other European Coal and Steel Community established free trade among its members

3. Origins of European Union  1957: European Economic Community (EEC) also known as Common Market  Common Market: customs union which promotes free trade w/n union and tariffs for non-members

4.  Began:  France, Germany, Italy, Belgium, Netherlands, Luxemburg  1973  Britain, Denmark, and Ireland  1980s:  Greece, Spain, Portugal  1995:  Austria, Finland, and Sweden  2004  Czech Republic, Hungary, Poland, Slovakia, Estonia, Latvia, Lithuania, Malta, Cyprus, Slovenia  2007: Romania and Bulgaria Countries in the European Union

5. executive organ for the Union passes laws based on Commission proposals makes the decisions Ensures EU laws interpreted & applied same way in all countries European Central Bank (ECB) manages euro European Investment Bank makes loans for many projects within the EU

6.  16 countries use the euro as their currency  “euro zone” meet criteria to join  common currency means people and businesses don’t have to pay the cost of exchanging money  Britain is biggest EU member outside the euro  US dollar =#1, euro = # 2 reserve currency Importance of the Euro as a World Currency

8. Chapter 6, Lesson 2 Learning Check CPS Questions (2 - 4)

9. Activity 1: European Union Review Match the terms on the right with the correct description or definition on the left. H J A K D C G E B F

10. Activity 3: Debating the Adoption of the Euro in the UK  Support: UK should join “euro area” because it will benefit the economy & give the country more influence in the EU.  Opposed: Adopting the euro will cause an increase in prices & cause the UK to lose its national identity.

11. Chapter 6, Lesson 2 Review Questions CPS Questions (5 - 6)

12. Summary  Origins of the European Union  Schuman Plan- May 1950: France and Germany’s coal and steel industries under joint control  First 6: France, Germany, Italy, Belgium, Netherlands, Luxemburg  Over 20 countries are members of the EU  Political and economic structure of the European Union  Treaty of Rome that established the European Economic Community (EEC) or Common Market  Importance of the euro as a world currency  16 countries—the “euro zone”—currently use the euro as their currency  Using the common currency means people and businesses don’t have to pay the cost of exchanging money