The European Union (EU) is a political and economic union of 27 European countries that work together to promote peace, stability, and prosperity. Established in 1993, the EU allows for the free movement of people, goods, services, and capital among member states, creating a single market. The EU also has its own institutions, such as the European Parliament and the European Commission, which help to create and enforce laws. Additionally, the EU plays a significant role in international trade and environmental policy, aiming to address global challenges collaboratively.