The European Union is a political and economic union comprising 27 states located primarily in Europe. The EU collectively represents the world's largest economy, with a GDP of USD15 trillion (2009), and counts some 500 million people within its borders. The EU operates as a single market, with a common system of laws and trade policies, with 16 states have forming a monetary union, adopting a common currency - the euro. The single market is based on the four freedoms of the EU: the free movement of labour, capital, goods and services. 22 member states have agreed to abolish passport controls between them, under an agreement known as the Schengen Agreement. Major institutions of the EU include the European Commission, the European Council, the European Parliament, the European Court of Justice and the European Central Bank.
The European Union was established in the aftermath of World War Two to bring peace, stability and prosperity to Europe. Key developments in its history include:
- 1951: The European Coal and Steel Community is established by the six founding members
- 1957: The Treaty of Rome establishes a common market
- 1973: The Community expands to nine member states and develops its common policies
- 1979: The first direct elections to the European Parliament
- 1981: The first Mediterranean enlargement
- 1993: Completion of the single market
- 1993: The Treaty of Maastricht establishes the European Union
- 1995: The EU expands to 15 members
- 2002: Euro notes and coins are introduced
- 2004: Ten more countries join the Union, establishment of the European Constitution
- 2007: Two more countries Join EU, member states sign Treaty of Lisbon.
- 2014: EU elects Jean-Claude Juncker as President for five-year term.
- 2015: Lithuania adopts the Euro as its currency, becoming 19th member of the euro area.
European Commission Vice-President, Siim Kallas, is responsible for Transport.
CAPA Profiles help you identify new business opportunities and make better business decisions, by providing accurate and up-to-date data on airports, airlines, suppliers, investors, MROs, lessors and countries around the world. Each profile offers comprehensive news and analysis, as well as the ability to drill down into data on schedules, capacity share, fleet, traffic, financial results and more.Become a CAPA Member
Our full profiles are only available to CAPA Members. CAPA Membership provides exclusive access to the information you need to monitor the competitive landscape and guide your organisation towards success.
It’s ideal for industry analysts, managers and executives who need a snapshot of the latest news, analysis and data from our global team, with the ability to export or email PDF reports in one click.
- 5000+ airports
- 3000+ airlines
- 1600+ suppliers
- 800+ airport investors
- 250+ countries and regions
- And more
CAPA Membership also gives you access to a customised selection of more than 400 global News Briefs every weekday, as well as a comprehensive Data Centre, Analysis Reports and Research Publications. You can also choose from our range of premium add-ons, including MRO Matrix, Route Maps, Fleet Data and more.