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Flag of the European Union
For centuries, Europe was plagued with frequent and destructive wars, particularly the Franco-Prussian War, World War I, and World War II. European leaders, out of a desire to secure a lasting peace in Europe, agreed that the best method to do so was to unite the nations economically and politically. Thus began the European Union (EU).
There are currently 27 members of the European Union. The original six members were France, (West) Germany, Italy, Luxembourg, and the Netherlands. Between 1973 and 1986, Denmark, Ireland, Britain, Greece, Portugal, and Spain joined the EU. The emblem of the European Union is a blue flag with twelve gold stars on it. In 1995, Austria, Finland, and Sweden joined the EU. Nine years later ten countries were admitted - Poland, Czech Republic, Slovak Republic, Lithuania, Latvia, Estonia, Hungary, Slovenia, Malta and Cyprus. The number of EU members rose again in January 2007 with the addition of Romania and Bulgaria. Croatia, Macedonia, Serbia, and Turkey are currently in talks about future possible membership of the EU.
The 1944 the Bretton Woods agreement created the World Trade Organization (WTO) that fights to eliminate tariffs and promote free trade. It established the World Bank, which provides loans to less-developed countries, and the International Monetary Fund (IMF), which loans to countries in economic crisis to prevent the collapse of their government. The agreement also fixed exchange rates for currencies, which became floating exchange rates in 1971.
In 1945 the United Nations was established.
In 1951, the European Coal and Steel Community (ECSC) was established with Belgium, West Germany, Luxembourg, France, Italy, and the Netherlands as members.
In 1957, the Treaties of Rome established the European Atomic Energy Community (EURATOM) and the European Economic Community (EEC). The members removed trade barriers between themselves and formed a "Common Market."
In 1992, the Treaty of Maastricht provided for cooperation in law enforcement, criminal justice, civil judicial matters, and asylum and immigration.
In 2004, Estonia, Latvia, Lithuania, Poland, the Czech Republic, Hungary, Slovakia, Slovenia, Malta, and Cyprus were admitted into the EU.
In 2007, Romania and Bulgaria were admitted as members of the EU.
