European Union (11.Within the Schengen Area, passport controls have been…
11.Within the Schengen Area, passport controls have been abolished.
9.A monetary union has been established within union but lacks common Fiscal union.
10.EU is composed of 28 member states but only 19 EU member states use the euro currency.
1.The European Union (EU) is a political and economic union of 28 member states that are located primarily in Europe.
3.The Maastricht Treaty established the European Union in 1993 and introduced European citizenship.
8.Within the Schengen Area, passport controls have been abolished.
6.EU policies aim to ensure the free movement of people, goods, services, and capital within the internal market, enact legislation in justice and home affairs, and maintain common policies on trade, agriculture, fisheries, and regional development.
2.Even after the BREXIT, for the time being, the United Kingdom remains a full member of the EU and rights and obligations continue to fully apply in and to the UK.
7.The Union reached its current size of 28 member countries with the accession of Croatia on 1 July 2013.
5.The EU has developed an internal single market through a standardised system of laws that apply in all member states.
4.The latest major amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009.
12.A monetary union has been established within union but lacks common Fiscal union.
25..European Central Bank together with national central bank determines monetary policy.
18.EU is composed of 28 member states but only 19. EU member states use the euro currency.
14.The Lisbon Treaty now contains a clause under Article 50, providing for a member to leave the EU.
23.United Kingdom enacted the result of a membership referendum in June 2016 and is currently negotiating its withdrawal.
21.The EU as a whole is the largest economy in the world.
16.EU has a common foreign and security policy, thus developing a coordinated external relations and defence.
20.The membership of EU entails a partial delegation of sovereignty to the institutions in return for representation within those institutions, a practice often referred to as "pooling of sovereignty".
13.The four countries that are not EU members have partly committed to EU's economy and regulations - Iceland, Liechtenstein and Norway.
22.The European Council gives political direction to the EU.
17.Council of European Union acts together with European Parliament as a legislature.
15.European Commission is the Executive arm.
24.Court of Justice Of European Union ensures uniform application and interpretation of European Law.