The EU (European Union) is a political and economic partnership between 27 countries. The union was created after the 2nd world war in November 1993. And the initial states who decided to join together to improve their economic situation were Belgium, Germany, France, Italy, Luxembourg and the Netherlands. After that with the passage of time many countries joined the EU and still go on.
Advantages:
The main advantage is that EU members can travel and work anywhere in EU. The second main advantage which helps a lot the EU that is Free trade zone, any country has completed access to others market in EU. Some people used to call it general advantage because it expands the size of market which brings a growth in the financial sector.
The EU member countries help the other poor countries which are the part of EU; they make good economic development in poor countries like Portugal. Eastern European countries such as Poland, Czech Republic and Hungary have also seen strong growth in real GDP.
http://www.economicshelp.org/europe/disadvantage.eu.html
http://uk.answers.yahoo.com/question/index?qid=201003230056340AaQzt
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