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==Economy==
==Economy==
{{See also|Eurozone Crisis}}
The institutions of the European Union were originally created to oversee the operation of the several economic communities that later became the Single European Market. Even as the EU's political integration has continued, the area of greatest integration has always been in the economic sphere: goods, capital, and labour move freely between member states (with exceptions for goods which pose a public health risk), businesses in all member states are increasingly subject to common basic rules, and fifteen of the 28 member states use a common currency, the euro. The rest of the states are legally obliged to adopt the euro when their economies meet strict ''Convergence Criteria''. The fifteen euro-area countries share a common monetary policy administered by the European Central Bank in Frankfurt, Germany. The EU strives to eliminate internal barriers to the free flow of goods, services, labour, and capital, and to promote the overall convergence of living standards. Internationally, the EU aims to strengthen Europe's trade position and capitalise on the political and economic leverage that a large, unified market brings.
The institutions of the European Union were originally created to oversee the operation of the several economic communities that later became the Single European Market. Even as the EU's political integration has continued, the area of greatest integration has always been in the economic sphere: goods, capital, and labour move freely between member states (with exceptions for goods which pose a public health risk), businesses in all member states are increasingly subject to common basic rules, and fifteen of the 28 member states use a common currency, the euro. The rest of the states are legally obliged to adopt the euro when their economies meet strict ''Convergence Criteria''. The fifteen euro-area countries share a common monetary policy administered by the European Central Bank in Frankfurt, Germany. The EU strives to eliminate internal barriers to the free flow of goods, services, labour, and capital, and to promote the overall convergence of living standards. Internationally, the EU aims to strengthen Europe's trade position and capitalise on the political and economic leverage that a large, unified market brings.