The European Union Explained

Written by Phineas Upham

A total of 28 countries cover the continent of Europe, and they have formed a mutually beneficial partnership of economic and political means called the European Union. After World War II, Europe was recovering from an incredible amount of devastation, and they decided that a partnership would be key to that healing process.

The idea was to grow the countries together, making it so that each country would be economically reliant. This would also tie them together politically, creating a massive market for companies to dip into in the process.

The EU is governed by the rule of law, represented by treaties. These treaties govern the actions of the EU and they must be voluntarily agreed upon by its members.

The EU is criticized today for low economic growth and de-regulated labor markets, but this was not always the case. For half a century, the EU has brought peace and economic stability to its member countries. People travel freely across the continent today, opening up new opportunities outside of one’s home in an area where borders can feel isolating.

It has also sought to be more transparent, and to reflect the ideals of a democratic society. It can certainly be argued that the EU falls short, but the EU’s Charter of Fundamental Rights outlines the basic human rights of everyone within its borders.

The EU is not perfect, but it does fill an important role in Europe’s politics. It allows for open borders, keeps neighbors in agreement, and attempts to foster commerce in all regions.

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Phineas Upham is an investor from NYC and SF. You may contact Phineas on his Phineas Upham website