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[edit] Current

The European Union has the world's largest economy, with a 2005 GDP of 12,865,602 million. It is estimated that in the period of 2006-2020, the economy will grow at an average rate of 2.1% per annum. The EU set itself an objective under the Lisbon Strategy to make it "the world's most dynamic and competitive economy" by the year 2010. Signficant challenges face the EU economy with issues like a low birth rate and aging population; while strengths include the expected gains earned through enhanced free trade and high growth in newer EU members. There are benefits accruing to EU citizens that are not visible in traditional economic data, like enhanced time off from work and social protection. In recent years, the economic performance of several of its key members, including Germany and Italy, has been a matter of serious concern to policy makers.      Continued...

[edit] Upcoming/Suggested

• Monarchies in the European Union
• Line of succession to the British Throne
• €2 commemorative coins
• Barroso Commission
• Enlargement of the European Union

[edit] Previous

The Treaty establishing a Constitution for Europe, commonly referred to as the European Constitution, is an international treaty intended to create a constitution for the European Union. It was signed in 2004 by representatives of the member states of the Union. Its main aims are to replace the overlapping set of existing treaties that comprise the Union's current constitution, and to streamline decision-making in what is now a 25-member organisation. Despite its name, it only covers the European Union, not the whole of Europe in the geographical sense. The constitutional treaty was signed by representatives of the member states on October 29, 2004, and is now in the process of ratification by all of the member states. If this were successful, the treaty would have been scheduled to enter into force on November 1, 2006. However, in 2005, French (May 29) and Dutch (June 1) voters rejected the treaty in referenda, prompting other countries to postpone their ratification procedures and leaving the Constitution with a highly uncertain future.