European Union (EU)

Definition

The EU is a political and economic union of 27 member states that are located primarily in Europe. It has developed an internal single market through a standardized system of laws applicable to all member states.

Analogy

Think of the EU as a big family where each country is a family member. They have common rules they all follow (like house rules), share resources (like sharing toys or food), and make decisions together about important matters affecting the whole family.

Related terms

Eurozone: The group of European Union nations whose national currency is the euro.

Brexit: An abbreviation for "British exit," referring to the UK's decision in a June 23, 2016 referendum to leave the European Union.

Schengen Area: An area comprising 26 European countries that have abolished passport and other types of border control at their mutual borders.