The European Union

Crystal MartinRuxi SevastruJoAnna Kester

EU map:

The Schengen Agreement & Visa

European Union

• 27 member states, 23 official languages• Motto: “United in diversity” (In varietate concordia)• Anthem: Ode to Joy (Beethoven)• Europe Day: May 9th • Political centers: Brussels (capital of the UE), Strasbourg (Council

of Europe, the Eurocorps, The European Parliament), Luxembourg (European Court of Justice, European Investment Bank).

• Key people: Jose Emanuel Barosso (President of the EU commission), Hans Gert Pötering (President of the European Parliament), Nicolas Sarkozy (President of the Council of the EU)

The European Union(Goals)

• Its central goal is to eradicate trade barriers across the 27 member states and to allow the free movement of workers, products, and investments across national borders.

• Economic integration will eliminate trade restrictions and taxes and create standardization in government regulations concerning products and tariffs .

• Labor relations and employment laws will be “harmonized” in compliance with regulations issued by the institutions governing the European Union.

History of the European Union1945-19591960-19691970-19791980-19891990-19982000-Today

A peaceful Europe – the beginnings of cooperation

The ‘Swinging Sixties’ – a period of economic growth

A growing Community – the first Enlargement The changing face of Europe – the fall of the Berlin Wall

A Europe without frontiers

A decade of further expansion

The Euro in the Eurozone

• Price parity– Convergence of prices

• Macroeconomic stability– Low inflation levels

• A new reserve currency– Second most widely-held international

reserve currency

Euro

• The official currency of 15 member states of the EU.• Also used in 5 further countries with formal agreements and 6 other

countries without formal agreements.• It is the single currency for over 320 million people and directly

affects over 500 million people worldwide (including areas using currencies pegged to the euro).

• Managed and administered by the Frankfurt-based European Central Bank.

• The euro-coins have a common side showing the denomination and a national side showing an image chosen by the country issuing the coin.

• The euro banknotes have common designs on both sides.

Big Mac Index

• U.S Dollar: $3.57• Euro: $5.34

US Dollar to Euro Currency Exchange RatePast Trend Present Value & Future Projection

The cost of gas: How countries compare

• The average tax on gas in the U.S. is 47 cents per gallon.

• Many European countries attach much higher fees as an incentive to reduce greenhouse gas emissions and raise revenue, increasing the overall price of gasoline.

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