The European Union (Leaving Cert Business): Revision Notes
The European Union
The European Union (EU) is a political and economic union of 27 member countries located primarily in Europe. It was established with the aim of fostering economic cooperation, with the idea that countries that trade together are more likely to avoid conflict. The EU has since evolved into an integrated single market, allowing for the free movement of goods, services, people, and capital.
Purpose of the EU
The EU was established following the world wars to promote peace and co-operation between European countries. The idea was that countries which are connected and trade with each other would have no reason to go to war with each other. Some of its aims include:
- Promoting peace and well-being
- Creating a strong European economy
- Upholding human rights across Europe
- Promoting cultural exchange
Ireland joined the EU in 1972. Since then, Ireland's economy has benefitted significantly due to the benefits of EU membership.
*Flags of EU member states *