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Consider the following statements about European Union: (a) It is a Political and Economic Union. (b) It was formally established by the Maastricht Treaty. (c) In 2007 Austria and Sweden became the members of European Union. (d) In 2012 the European Union received the Nobel Peace Prize. Which of the above statements are correct?

Consider the following statements about European Union: (a) It is a Political and Economic Union. (b) It was formally established by the Maastricht Treaty. (c) In 2007 Austria and Sweden became the members of European Union. (d) In 2012 the European Union received the Nobel Peace Prize. Which of the above statements are correct? Correct Answer (a), (b), (d)

The correct answer is (a), (b), and (d).

Key Points

  • European Union:
    • The European Union is a group of 28 countries that operate as a cohesive economic, political. social, and security block. Hence, statement (a) is correct. 
    • The EU’s members are Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. 
    • The United Kingdom, which had been a founding member of the EU, left the organization in 2020.
    • The EU was created by the Maastricht Treaty, which entered into force on November 1, 1993. Hence, statement (b) is correct. 
    • The treaty was designed to enhance European political and economic integration by creating a single currency (the euro), a unified foreign and security policy, and common citizenship rights and by advancing cooperation in the areas of immigration, asylum, and judicial affairs. 
    • The EU was awarded the Nobel Prize for Peace in 2012, in recognition of the organization’s efforts to promote peace and democracy in Europe. Hence, statement (d) is correct. 
    • 1 January 1995 – The EU gains 3 new members: Austria, Finland and Sweden. Hence, statement (c) is incorrect.
  • The Treaty of Lisbon 2007:
    • European Community (now composed only of EEC, EAEC, as ECSC already ceased in 2002) was ceased and its activities were incorporated in EU.
    • EAEC is the only remaining community organization legally distinct from the European Union (EU), but has the same membership, and is governed by many of the EU's institutions.

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The correct sequence should be