European Debt Crisis (1) - Formation of the European Union

After the devastating World War II, major governments of the continental Europe became convinced that the only way to establish a lasting peace was to work together on reducing the competitive pressures leading to conflicts and to unify all European states in the long run. In 1950, the French Foreign Minister, Robert Schuman, proposed an eventual union of all Europe as a single community, the first step of which would be the integration of the coal and steel industries. These natural heavy industries were regarded at that time as the essential engines behind the manufacture of munitions for wars. The aim of the integration was to eliminate the possibility of further wars by pooling these industries together among the member states. Next year in 1951, the European Coal and Steel Community (ECSC) was born when the 6 founding members - Belgium, France, West Germany, Italy, Luxembourg and Netherlands, signed the Treaty of Paris.
Six years later in 1957, the 6 members further sought closer union and signed the Treaties of Rome to create the European Economic Community (EEC) and the European Atomic Energy Community (EAEC) . They undertook to eliminate the trade barrier among themselves by forming a common market. In 1967, the three communities (ECSC, EEC and EAEC) formally merged into the European Community (EC), creating a single Commission, a single Council of Ministers, and the body known today as the European Parliament.
Membership of the EC expanded from the original 6 to 12 members between 1973 and 1986 (with new members Denmark, Ireland, United Kingdom, Greece, Spain and Portugal). In 1992, they signed the Treaty of Maastricht which laid the basis for further forms of cooperation in foreign and defense policy, in judicial and internal affairs, and in the creation of an economic and monetary union - including a common currency. This further integration created the European Union (EU) in 1995. 3 new members, Austria, Finland and Sweden, joined in the same year.
On January 1, 1999, one of the largest steps toward European unification took place with the introduction of the euro as the official currency in the EU. Euro became the unit of exchange for most EU countries except United Kingdom, Denmark and Sweden who decided not to convert their currencies to Euro.
The EU continued to expand with 10 more countries - Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia, joining in 2004. Later in 2007, 2 other countries, Bulgaria and Romania, joined, bringing the total membership to 27 where it stands today (Nov2011).

As of now, members of the EU (27) include:

Austria (1995), Belgium (1951), Bulgaria (2007), Cyprus (2004), Czech Republic (2004), Denmark (1973), Estonia (2004), Finland (1995), France (1951), Germany (1951), Greece (1981). Hungary (2004), Ireland (1973), Italy (1951), Latvia (2004), Lithuania (2004), Luxembourg (1951), Malta (2004), Netherlands (1951), Poland (2004), Portugal (1986), Romania (2007), Slovakia (2004), Slovenia (2004), Spain (1986), Sweden (1995), United Kingdom (1973).

Only 17 of the 27 members of the EU are part of the Eurozone, the name for the collection of EU countries that utilize the euro. Except United Kingdom, Denmark and Sweden, other new members are working toward becoming part of the Eurozone. Eurozone members (17) include:

Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain.

The EU's mission is to:
. guarantee peace, freedom and security in and around Europe
. promote and protect democracy and universal rights in Europe and around the world
. strengthen Europe's economy and to promote solidarity around Europe by working in partnership with national, regional and local government
. make it easy for Europe's citizens to live and work throughout the Union
. promote equality and tolerance of diversity in Europe
. promote and facilitate cooperation between Europeans, at individual, local, regional and national level, and in both the public and private sectors
. protect Europe's environment
. ensure that Europe's voice is heard in the world
. listen to its citizens, be accountable to them and work for them in a transparent and decentralised way.

The EU has its own official flag. It consists of a circle of 12 golden stars on a blue background. The number of stars (12) represents completeness while their position in a circle represents unity. The EU adopts Beethoven's Symphony Number 9 'The Ode of Joy' as their official anthem, conveying the idea of freedom, peace and unity.

(extract from http://www.youtube.com/watch?v=vXuhvzbQ5EI&feature=related)