In today's world, different kinds of alliances are formed between countries and nations in order to compete in a global economy. The European Union is a one of kind allegiance that has shaped many aspects of our current world. Recent developments along with the strengths and weaknesses of the European Union will be the focus of this paper.
             Before discussing current events, a brief overview of who and what is the European Union (EU) is vital. On May 9th, 1950, The EU was formed by the joining of six countries which were (Belgium, Germany, France, Italy, Luxembourg and the Netherlands) with the foundation of the law of democracy. The basic concept of the EU states that it is neither a new State replacing existing ones nor is it comparable to other international organizations. Its Member States delegate sovereignty to common institutions representing the interests of the Union as a whole on questions of joint interest. All decisions and procedures are derived from the basic treaties ratified by the Member States. Today, after four waves of accession (1973: Denmark, Ireland and the United Kingdom; 1981: Greece; 1986: Spain and Portugal; 1995: Austria, Finland and Sweden) the EU has 15 Member States and is preparing for the accession of 13 eastern and southern European countries. (EU at a glance) The foundation and structure of the EU is definitely one of its strengths.
             The EU has some basic principals which include establishing European citizenship. This embraces fundamental rights, freedom of movement and civil and political rights. It also wants to ensure freedom, security and justice. Like other unions, the EU definitely wants to encourage economic and social progress and finally assert Europe's role in the world. Having well defined goals and showing character and conviction the EU demonstrates inner strength.
             The EU is governed by five institutions each having a specific function. They are the European Parli...