The Economy of the European Union

by Kane M-B

1.The EU covers over 4 million km² and has 503 million inhabitants, they are known for their catchphrase, " United in diversity".

The European Union is made up of 28 countries, these are:

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK

The EU has 24 different spoken languages.

The EU contribute to more than 25% of the entire global economy.

Their key aims are;

Peace and prosperity

Promote economics and social progress.

Speak for the EU on the international scene.

Introduce European citizenship

Maintain and build established EU law.

The EU's rules on competition are designed to ensure fair and equal conditions for businesses, while leaving space for innovation, unified standards, and the development of small businesses.

Tariff - the tax on products coming in to a country