EU

The EU, or European Union, is an economic and political union consisting of 27 member states. There exists within an internal single market that is regulated and upheld by a standardised series of laws. A primary concern of EU policies is assuring the free movement of goods, services, people, and capital in accord with the internal market regulations. In 1993, the EU first issued European citizenship, which allowed all EU citizens to freely move between member states. At present, the EU consists of almost 447 million citizens, amounting to 5.8% of the global population. In 2020, the EU had a nominal gross domestic product (GDP) of roughly $15.5 trillion, making up around 18% of the global GDP. The origins of the EU date back to the end of the Second World War, where numerous treaties and agreements were signed between European states. The increased number of these treaties ultimately led to the emergence of the EU, originally consisting of the Inner Six, Belgium, Italy, France, Luxembourg, West Germany, and the Netherlands. Over the course of subsequent decades, membership increased, with only three states having ever left the union. In 2016, 52% of voters in the UK elected to leave the EU via a referendum. On the 31st January 2020, the UK officially left the EU, a move dubbed “Brexit” by the press and other political sources.