Introduction

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The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. The Union has a total area of 4,233,255 km2 (1,634,469 sq mi) and an estimated total population of over 448 million. The EU has often been described as a sui generis political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation.

Containing 5.8% of the world population in 2020, EU member states generated a nominal gross domestic product (GDP) of around US$16.6 trillion in 2022, constituting approximately one sixth of global nominal GDP. Additionally, all EU states except Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act as one. EU policies aim to ensure the free movement of people, goods, services and capital within the internal market; enact legislation in justice and home affairs; and maintain common policies on trade, agriculture, fisheries and regional development. Passport controls have been abolished for travel within the Schengen Area. The eurozone is a group composed of the 20 EU member states that have fully implemented the economic and monetary union and use the euro currency. Through the Common Foreign and Security Policy, the union has developed a role in external relations and defence. It maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7 and the G20. Due to its global influence, the European Union has been described by some scholars as an emerging superpower.

In 2012, the EU was awarded the Nobel Peace Prize. The United Kingdom became the only member state to leave the EU, in 2020; ten countries are aspiring or negotiating to join it. (Full article...)

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The eurozone, officially euro area, refers to a currency union among the European Union member states that have adopted the euro as their sole official currency. The Eurosystem, headed by the European Central Bank, is responsible for monetary policy within the Eurozone.

The Eurozone has 19 members, with a further six states and territories using it as their sole currency. It circulates widely beyond that, and has started to serve as a reserve currency. Based on official estimates of 2007 GDP, the Eurozone is the largest economy in the world.

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Siege of Kolberg
Banknote design credit: Kingdom of Prussia; scanned by Andrew Shiva
The siege of Kolberg took place from March to July 1807 during the War of the Fourth Coalition, part of the Napoleonic Wars. An army of the First French Empire and several foreign auxiliaries (including Polish insurgents) of France besieged the fortified town of Kolberg, the only remaining Prussian-held fortress in the Province of Pomerania. The siege was ultimately unsuccessful and was lifted upon the announcement of the peace of Tilsit. These three banknotes, in denominations of two, four and eight groschen, were issued by the Prussian authorities in Kolberg as emergency money during the siege. Each was handwritten on cardboard with multiple authorising signatures and was stamped with the seal of the local government. The banknotes are now part of the National Numismatic Collection at the Smithsonian Institution in the United States.

Did you know?

...that within the Eurozone the European Central Bank has the exclusive authority to set monetary policy?

...that Greenland and United Kingdom are the only countries to ever leave the European Union?

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Warsaw

Warsaw is the capital of Poland and its largest city. It is located on the Vistula river roughly 370 km from both the Baltic Sea coast and the Carpathian Mountains. Its population as of 2011 was estimated at 1.7 million with a metropolitan area of approximately 2.7 million. The city area amounts to 517 km², with an agglomeration of 6100.43 km². Warsaw is internationally notable for giving its name to the Warsaw Pact, Warsaw Convention and the Treaty of Warsaw.

The city is home to many industries, including manufacturing, steel, electrical engineering, and automotive; it features 66 institutions of higher learning, including Warsaw University, Stefan Wyszyński University, Warsaw University of Technology, Warsaw School of Economics, and a Medical Academy. Warsaw is home to over 30 theatres, including the National Theatre and Opera and the National Philharmonic Orchestra.

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