1. The European Union (EU)
The World’s Strongest Supranational Organization
(A supranational union is a type of multi-national organization where negotiated power is delegated to an authority by governments of member states.)

2. What is it?
The European Union (EU) is a group of democratic European countries, committed to working together for peace and prosperity.
It was formed to unite Europe and benefit it economically.

3. European Economic Cooperation
Formed in 1948
European countries could rebuild faster post WWII if they worked together.

4. History of the EU
The historical roots of the EU lie in the Second World War.
Idea of European integration conceived to prevent such killing and destruction from ever happening again

5. History of the EU
In 1957, some European Countries sought even closer economic ties.
The European Economic Community (EEC) was formed.
The EEC was a common market, meaning countries within the group could trade across borders without restrictions or tariffs.

6. History of the EU In 1992, the EU was formally created.
By 2010 it had 27 member nations with a total of more than 500 million people.
Today, there are 28 member countries.

7. The European Union

8. GROWTH OF THE EU

9. European Union

10. The Euro common currency created by the EU
name “Euro” was selected in 1995
in January 1999, the exchange rates of the participating currencies were set and Euro area Member States began using the Euro.
in January 2002, 12 States in the EU introduced the new euro banknotes and coins
single currency means lower fees for doing business.

11. The Euro

12. How does it work?
The EU has a government with executive, legislative, and judicial branches.

13. How does it work?
There are five EU institutions, each playing a specific role:
European Parliament (one of two legislative bodies in the EU; elected by the peoples of the Member States) 
Council of the European Union (EU’s highest Legislative Body; has legislative initiative; is made up of representatives appointed by member states according to a population-based allotment) 
European Commission (EU’s executive body; one commissioner per country appointed by each government) 
Court of Justice (ensures compliance with the EU laws) 
Court of Auditors (manages the EU budget)

14. Requirements to Join
The country must have a stable democracy that respects human rights.

15. Costs of staying out Export problems
Access to EU markets is not guaranteed
Inflation problems
Losing workers to other countries
Losing trade advantages
Potential loss of tourism
Scientific information lag
EU scientific exchange programs accept Swiss citizens only if they fail to fill such exchanges with persons from EU countries

16. Costs of joining
Membership is expensive. The UK for example pays an estimated 13 billion to the EU.
The EU is very powerful but much less accountable to the people that national governments.
EU regulations are imposed all across Europe but effect each country differently.
Some argue the EU undermines the nation state because member countries agree to give up some of their ruling authority to the EU.