(a) History – The European Coal and Steel Community (ECSC) and European Economic Community (EEC) were created to foster economic interdependence. On 7th February 1992, the Maastricht Treaty was signed to create the European Union. This led to expansion of spheres of cooperation to include internal affairs, judicial matters, foreign policy, etc. The Euro (€) is the official currency of 19 out of 28 countries of the EU. These nations are collectively called ‘Eurozone’.

(b) European Commission – The Commission is the executive bureaucratic arm of the EU. It is mainly responsible for drawing up proposals for new European legislation,and it implements the policy decisions of the European Parliament and the Council of the EU.

(c) European Parliament – The European Parliament is composed of 751 Members, who are directly elected every five years. It is a body entrusted with legislative, supervisory, and budgetary responsibilities.

(d) European Council – The structure of the European Council consists of the Presidents or Prime Ministers of each member State, accompanied by their foreign ministers, and a full¬time President of the European Council. The European Council meets four times a year and provides strategic leadership for the EU.

(e) European Court of Justice (ECJ) – The ECJ interprets, and adjudicates on, EU law and treaties. As EU law has primacy over the national law of EU member States.