• Safi Bello

How To Guide For: Understanding What The EU is --- How It Works And How It Affects The United States

The EU which stands for the European Union is a economic and political union between 28 European countries that together cover much of the continent. The EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation. The result was the European Economic Community (EEC), created in 1958, and initially increasing economic cooperation between six countries: Belgium, Germany, France, Italy, Luxembourg and the Netherlands. Since then, a huge single market has been created and continues to develop towards its full potential. The 28 countries within the European Union include: Austria, Belgium, Bulgaria, Croatia, the Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom. So how does the EU work. There are four key institutions which work together to run the EU - the European Commission (which represents the interests of the Union as a whole), the European Parliament (which represents the EU's citizens and is directly elected by them), the Council of the European Union (which represents individual member states) and the Court of Justice (is the final arbiter in disputes about European law). So how does the EU affect the United States for starters the European debt crisis and recession affect American exports and the stock market. Not only does the European debt crisis directly affect American exports, it impacts other areas of the global economy. Also lets not forget Brexit, when the UK referendum took place Thursday June 23, 2016 which caused Wall Street to tumble more than 500 points right after the opening bell Friday morning. There is more information about the EU, how it works and how it affects the United States. To get more in depth information click on the pictures below to read the articles.

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