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The 1990s also saw the further development of the euro. 1 January 1994 saw the second stage of the Economic and Monetary Union of the European Union begin with the establishment of the European Monetary Institute and at the start of 1999 the euro as a currency was launched and the European Central Bank was established. On 1 January 2002, notes ...
2016 – UK holds a Membership Referendum and votes to leave the European Union; 2017 – Negotiations between UK and the EU officially started in June 2017; 2017 – Start of Brexit: On 29 March 2017, the Government of the United Kingdom invoked Article 50 of the Treaty on European Union.
The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. [9] [10] The Union has a total area of 4,233,255 km 2 (1,634,469 sq mi) and an estimated total population of over 449 million.
Euro Zone inflation. The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange ...
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957, [note 1] aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union (EU) in 1993.
On 1 November 1993, the Maastricht Treaty started the implementation of the Economic and Monetary Union of the European Union and formalized European citizenship; it also changed the name of the Community to the European Union reflecting the evolution of the organization from an economic union into a political union, which started long before ...
0–9. Ideas of European unity before 1948; American Committee on United Europe; History of European integration (1948–1957) History of the European Communities (1958–1972)
The following timeline outlines the legal inception of the European Union (EU)—the principal framework for this unification. The EU inherited many of its present responsibilities from the European Communities (EC), which were founded in the 1950s in the spirit of the Schuman Declaration .