The ЕС, or European Union, is a political and economic union of 27 European countries. It was established to promote peace, stability, and economic cooperation among its member states. The EU allows for the free movement of people, goods, services, and capital across its borders, creating a single market. The EU has its own institutions, including the European Parliament, the European Commission, and the European Council, which help govern and implement policies. It also has a common currency, the Euro, used by 19 of the member countries, facilitating trade and economic integration within the region.