the European Union is an economic and
political union with 7.3 percent of the
world's population more than 500 million
people it generates around 24% of global
nominal gross domestic product in 2003
there were 15 Member States today there
are 28
the eurozone is a monetary union member
states have adopted the euro as their
common currency and sole legal tender
those countries within the Schengen area
have abolished passports and any other
type of border control at their mutual
borders the European free trade
association operates in parallel with
the EU and all Member States participate
in the EU single market the European
Economic Area allows free movement of
persons goods services and capital
within the internal market of the EU the
UK is already less integrated into
Europe than most EU Member States
then there are those nations that are
outside of those groups but part of the
Council of Europe which unlike the EU
cannot make binding laws and separate
agreements exist between the EU with
Monaco San Marino and the Vatican to
mint euros