established - 7 February 1992; effective - 1 November 1993
aim - to coordinate policy among the 15 members in three fields:
economics, building on the European Economic Community's (EEC) efforts
to establish a common market and eventually a common currency to be
called the 'euro', which superseded the EU's accounting unit, the ECU;
defense, within the concept of a Common Foreign and Security Policy
(CFSP); and justice and home affairs, including immigration, drugs,
terrorism, and improved living and working conditions
members - (15) Austria, Belgium, Denmark, Finland, France, Germany,
Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain,
Sweden, UK
membership applicants - (13) Bulgaria, Cyprus, Czech Republic, Estonia,
Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia, Slovenia,
Turkey
First World: another term for countries with advanced, industrialized
economies; this term is fading from use; see developed countries (DCs)