Lesson 1/45 min
The EU and Benelux
European Union (EU)
- Predecessor: the European Economic Community (EEC/EC), in force 1 January 1958 (Treaty of Rome); six founding members
- Started as the EU on 1 November 1993 under the Maastricht Treaty (signed 1992 at Maastricht, the Netherlands)
- 27 members; the latest to join was Croatia (1 July 2013)
- Headquarters Brussels, Belgium; the European Parliament sits in Strasbourg (France) with its secretariat in Luxembourg
- Brexit: the United Kingdom formally left the EU on 31 January 2020
- The only Asian country in the EU: Cyprus
- The EU was among those that imposed economic sanctions on Russia in 2022
The euro
- Single currency: the euro; its intellectual father is Robert Mundell (Canada)
- Introduced 1 January 1999 in 11 countries (for transactions); notes and coins on 1 January 2002
- The euro is now used by 21 countries; the 21st is Bulgaria (1 January 2026), after Croatia (1 January 2023)
- Six EU members outside the euro: Czechia, Denmark, Hungary, Poland, Romania, Sweden
- European Central Bank: Frankfurt, Germany
- Outside the EU, Kosovo (and Montenegro) use the euro as their own currency
Watch out: One source says 20 euro countries, 7 outside and 1 March 2002. Today it is 21 countries, 6 outside, and notes and coins began on 1 January 2002. One source also gives 15 founding members and calls Turkey an 'associate member'; neither is right (Turkey is a candidate country).
Benelux
- Belgium, the Netherlands and Luxembourg; three members; headquarters Brussels
- Customs union agreed in 1944 in London; in force 1 January 1948
- Economic Union treaty signed 3 February 1958; in force 1 November 1960
- New Benelux treaty signed 17 June 2008 (The Hague); in force 1 January 2012
Watch out: One source gives 5 September 1988, 4 February 1958 and 2010. Official sources give 1944 (customs union), 3 February 1958 and 1 January 2012.
Check yourself
Who is called the father of the euro?
At a glance
- 1
The EU began on 1 November 1993 through the Maastricht Treaty; the EEC took effect on 1 January 1958.
- 2
The EU has 27 members; the latest is Croatia (1 July 2013); headquarters Brussels.
- 3
The United Kingdom left the EU on 31 January 2020 (Brexit).
- 4
The euro was introduced on 1 January 1999 (notes and coins 2002); Bulgaria became the 21st euro country in 2026.
- 5
The European Central Bank is in Frankfurt; Benelux = Belgium, the Netherlands, Luxembourg.