What I may already know: • EU stands for European Union. • Ireland is a member of the European Union.
Learning Intentions
In this chapter, I will learn: • Why the European Union was formed. • The structure of the EU. • The economic benefits and challenges of Ireland’s membership of the EU. • The social impact of Ireland’s membership of the EU. • An understanding of the eurozone.
Key Words: European Union (EU) European Commission European Parliament Council of Ministers
EU single market Protectionism Public procurement Eurozone
WHEN AND WHY WAS THE EU FORMED?
The European Union (EU) is an economic and political partnership between a group of European countries.
The EU began in 1951 when Germany, France, Belgium, Italy, Luxembourg and the Netherlands formed the European Coal and Steel Community (ECSC). In 1957, this became the European Economic Community (EEC). The aim of the EEC was to make it easier to trade a
