European Union

 

European Union

European Union is an important world level organisation mainly consisting the European countries. It aims at working together in respect with social, security and mainly economic policies related to the member nations.

The origins of the formation of European Union can be traced back to the days of Second World War. In 1944 the representatives of three European countries viz. Belgium, Netherlands and Luxembourg signed a treaty called as London Customs Convention. This treaty resulted into the formation of Benelux Customs Union. These  countries had lost ground to Germany during World War II, hence the exiled representatives of these countries took the lead in the formation of Benelux Customs Convention which subsequently came to be called as Benelux Economic Union.

According to experts this  Benelux Economic Union was sort of a precursor and inspiration for the formation of European Union after a period of almost four decades.

In 1952 European Coal and Steel Community (ECSC) was formed. The countries which took lead in the formation of European Coal and Steel Community were West Germany, Luxembourg, Netherlands, France, Italy and Belgium. The Treaty of Paris signed by these countries in the year 1951 culminated into the formation of European Coal and Steel Community. United Kingdom did not join ECSC, perhaps to maintain her economic freedom.

Another important milestone in the journey of establishment of future European Union was the signing of Treaty of Rome on 25 March 1957. This Treaty resulted into the establishment of European Economic Community (EEC). In fact, two treaties were signed in this year in Rome one out of it gave birth to European Economic Community (EEC) and the other one to European Atomic Energy Community (Euratom). EEC made the important provisions such as free mobility of trade, capital, labour, goods, etc. across the member countries. It also envisaged the establishment of common market, common agricultural policy and trade with other countries. It also resulted into one of the fantastic decisions of raising the European Social Fund in order to increase jobs.

Later on European Economic Community became the European Community. The European Community could be considered as the immediate predecessor of European Union. The European Community came to be called as the European Union (EU) as per the Treaty of Maastricht. Maastricht is a city located in Netherlands. The Maastricht Treaty was signed in the year 1992.

Today European Union has its own currency called as Euro. There are no restrictions on travel from one country to other. The official Identity Card or Passport is enough for travelling from one country to other. Even one can study and work in member countries of European Union with the help of Identity Card or Passport. There is no need of visa or work permits.

At present most of the countries of Europe are the members of European Union. In 2017 the government of United Kingdom held a referendum and decided to leave European Union. The exit of United Kingdom of Britain and Northern Ireland is called as Brexit. But, one can say that European Union is one of the famous successful stories of post Second World times. It member nations of European Union are definitely reaping and enjoying the economic benefits and fruits of European Union.