What is the European Union (EU)?

The EU is a group of 27 European countries banded together to promote economic and social prosperity among the nations. Most notably, the EU has a pseudo-governmental body made up of representatives of member countries. The EU provides a standardized legal system governing trade and commerce among the nations that allow for the movement persons, goods, capital and the provision of services across borders. Perhaps most notably, most countries use a single currency known as the EURO.

Related Topics

• International Law (Intro)

• What is International Law?
• What are the types of international law?
• United Nations
• United Nations Commission on International Trade law
• United Nations Conference on Trade Development
• North Atlantic Treaty Organization
• International Monetary Fund
• Other Economic Development Organizations
• World Bank
• World Trade Organization
• European Union
• What international courts exist and what are their functions?
• What are the methods of carrying on international business?
• What are the legal risks associated with carrying on international business?
• What major international agreements affect international trade?
• When is carrying on business in a foreign country prohibited by US law?
• What is the significance of boycotts between foreign countries?
• What US laws apply to limit business transactions in foreign countries?
• What regulations apply to exports from the United States?
• What are the legal limitations on importing goods into the United States?
• How are private international business agreements generally enforced?
• How do parties determine the rules, location, and method of resolving disputes?