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The '''European Union (EU)''' is a legal, political and economic union of 27 [[European]] countries. It was formed in 1993 with the ratification of the [[Maastricht Treaty]], though its predecessor, the [[European Economic Community]], was founded in 1957.

The '''European Union (EU)''' is a democratically organised legal, political and economic union of 27 [[European]] countries. It was formed in 1993 with the ratification of the [[Maastricht Treaty]], though its predecessor, the [[European Economic Community]], was founded in 1957.

As a set of institutions, the EU has more powers over its member states and their citizens than other international bodies; many of its competencies are supranational (above the member states) rather than intergovernmental (between them).  Despite having a legal personality and sovereignty in agreed areas, it is not regarded as a federation or state in its own right: rather, it stands somewhere between these two points. Fifteen member states use a common currency, the '''[[euro]]'''<ref>Five other states formally agree to use it, and four others use it without formal agreement.</ref>.   

As a set of institutions, the EU has more powers over its member states and their citizens than other international bodies; many of its competencies are supranational (above the member states) rather than intergovernmental (between them).  Despite having a legal personality and sovereignty in agreed areas, it is not regarded as a federation or state in its own right: rather, it stands somewhere between these two points. Fifteen member states use a common currency, the '''[[euro]]'''<ref>Five other states formally agree to use it, and four others use it without formal agreement.</ref>.