definitions European Union (EU)

European Union (EU)

An intergovernmental organization which coordinates foreign, economic, and judicial policy among its 25 member nations. A group of European countries that have chosen to integrate many of their economic activities, including forming a customs union and harmonizing many of their rules and regulations. Preceded by EEC and EC. As of May 1, 2004, the EU had 25 member countries. Organization of 25 European nations whose purpose is to promote economic harmonization and tear down barriers to trade and commerce within Europe.