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In this article, we examine the European Union. We shall discuss the origins of the European Union, the formation of the international organization, mandate and functions of the IO, as well as debates and criticisms with regards to the organization. We shall also list various references with regards to the European Union

The European Union as we know it today first came to existence as the European Economic Community (EEC) . The idea behind the European Economic Community was for European states to work together on economic matters following the effects of World War II. The hope was that by increasing trade ties with one another, they would increase trade interdependence, which in turn would help move them away from conflict with one another. It is believed that French statesmen Jean Monnet and Robert Schuman are regarded as the architects of the principle that the best way to start the European bonding process was by developing economic ties (BBC, 2012). These ideas led to the Treaty of Paris in 1951 (BBC, 2012). Shortly after, the European Economic Community was formed in 1958, and was initially comprised of six states, which were Belgium, Germany, France, Italy, Luxembourg, as well as the Netherlands (European Union, 2014b). The goal was to share sovereignty on a number of matters and issues, which would in turn make conflict increasingly unlikely. For example, the early agreements within the European Economic Community (EEC) focused on economic matters, and specific resources such as coal, steel production, as well as nuclear energy between the states (Archick, 2014).

However, throughout the decades, the European Union has expanded their influence and interdependence greatly. What began as a limited cooperative evolved to include additional issues such as a customs union; a single market in which goods, people, and capital move freely; a common trade policy; a common agricultural policy; many aspects of social and environmental policy; and a common currency (the euro) that is used by 18 member states (Archick, 2014: 1). It was in 1991 the that the European Union officiallyfollowed the European Community (BBC, 2012). Following the official formation of the European Union, the states within the IO began discussing issues related to citizenship. For example, from this point onwards, individuals from any member of the European Union could travel to any other EU state without restriction (BBC, 2012). And it was in this 1991 European Union Treaty at Maastricht that set European Union positions on issues of rights for workers, amongst other related topics (it should be noted that the United Kingdom did not agree to this Social Chapter within the Maastricht Treaty) (BBC, 2012).

In terms of currency, the majority of the 28 states are on the same currency, the Euro. Many did so in 1999. Greece, while a part of the Euro, did so in 2001. However, there are a few countries who are not on the Euro. Sweden, Denmark, and the United Kingdom retained their currencies (BBC, 2012).

The initial criteria for jointing the European Union were laid out in the 1991 Maastricht Treaty.

There are currently 28 countries within the European Union. We have listed the European Union countries and the year they entered (European Union, 2014a) into the European Union below.

Austria (1995)

Belgium (1952)

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International Relations European Union

FRANKFURT: Nov 19 (Reuters) - The European Union's (EU) top insurance watchdog on Wednesday warned against giving insurers strong enticements to invest in particular asset classes, saying this would run counter to prudent supervision.

"We need to emphasise continually that undue incentives to buy any asset class should not be part of a risk-based, prudent regime," Gabriel Bernardino said in the text of a speech to a financial conference.

European politicians want insurers to put more of their 8.5 trillion euros ($10.6 trillion) in assets under management into investments that will boost the bloc's economy, which is in the doldrums.

Big insurers like Allianz, Axa and Generali have been looking for opportunities to make long term investments, such as in infrastructure or clean energy, that match their commitments to policy holders often decades in the future.

But insurers say European capital rules coming into force in 2016 make it too expensive for them to invest in these assets and are pushing for a better deal from regulators.

Insurers complain that infrastructure investments in the so-called Solvency II rules could face capital buffer charges of up to 70 per cent, while real estate investments are much lower, at around 25 per cent.

Bernardino, who is chairman of the European Insurance and Occupational Pensions Authority ( EIOPA), said insurers did have a role to play in fostering sustainable growth in Europe and they must not focus on the wrong argument.

"Solvency II stand-alone risk charges are not the appropriate measure because diversification benefits need to be taken into account," he said, adding that marginal capital requirements were a better test.

"If we base our analysis on the marginal return on regulatory capital, investments in high quality securitisations, infrastructure debt and private equity are, at least on a relative basis, quite attractive," he said.

(1 US dollar = 0.7987 euro)

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European Union insurance watchdog warns on "undue" investment incentives

KARACHI: Cash-strapped Pakistan International Airlines (PIA) has got a rare boost as the European Union lifted a security ban prohibiting the flag-carrier from flying cargo to EU countries.

The EU had suspended PIA's cargo services to the EU in September because of non-compliance of regulatory security standards for foreign airlines.

"The EU has lifted the ban on PIA flying cargo to the EU bloc after we met their security requirements," a spokesman for the airlines today said.

"We have got clearance after installing dual view x-ray machines and explosive trace detectors to scan cargo booked on our flights," he added.

The EU tightened security controls on cargo freight and imposed the ban on PIA after a plot was uncovered to smuggle a bomb hidden in printer toner cartridges on a plane from Yemen in 2010.

Captain Salman Azhar, who heads PIA's safety and quality insurance, said getting the EU clearance was a big boost for PIA which required international business.

"They only gave approval after their experts came and audited our newly set up security protocol and installations for cargo freights," Azhar said.

"They were satisfied we were meeting international standards for safety and security."

He added the EU had approved the security and safety standards at the international airports of Lahore, Rawalpindi and Karachi.

In June, the Karachi international airport was attacked by militants in a commando-style raid that left 38 people dead, including the 10 attackers.

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European Union lifts ban on Pakistan International Airlines cargo flights

Hungary #39;s Orban voices Azerbaijan gas hopes
Hungary #39; Prime Minister Viktor Orban is urging the European Union to build pipeline interconnectors across borders to ensure natural gas from Azerbaijan can reach markets in central Europe....

By: euronews Business

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Hungary's Orban voices Azerbaijan gas hopes - Video

Europe Preps stronger Sanction VS. Israel for Settlements in Palestine
sorry about the interruption - my children know the policy and for 5 minutes they could be more quiet) EU considering #39;sanctions #39; against Israel over settlements The European Union has set...

By: Everybody Every1

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Europe Preps stronger Sanction VS. Israel for Settlements in Palestine - Video