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The European Union (EU) is a politico-economic union of 28 member states that are located primarily in Europe. The EU works as a system of supranational institutions and intergovernmental conveyed decisions made by the member states. The institutions of the European Union are: the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, the European parliament, which is elected by EU citizens every five years, the European Central Bank and the Court of Auditors.
The Maastricht Treaty established the European Union under its current name in 1993 nevertheless the beginning of this community goes back to the 1950s with the European Coal and Steel Community (1951) and the European Economic Community (1958).The latest important modification to the constitutional basis of the European Union was made during the Lisbon Treaty in 2008.
The European Council has functions of general political orientation and external representation, and appoints the heads of the highest constitutional institutions; the European Parliament and the Council has the lawmaking power on an equal basis, taking joint decisions-except for the special legislative procedures, where the Parliament plays a consultative role- the College of Commissioners applied the Union law, monitors compliance and implements its policies; It has exclusively legislative initiative to Parliament and the Commission. The Court has the supreme judicial duties in the Community legal system; the Court of Auditors monitors and controls the functioning and proper management of finances and EU funds; and the European Central Bank directs and implements the single monetary policy in the euro area.