Glossary
Eurasian Economic Community
Eurasian Economic Community (EAEC or EurasEC) merged with the Central Asian Cooperation Organization (CACO) in 2005, was established in May 2001 to create a common economic and energy policy.
Euro
A common currency proposed by the European Union for its member nations.
Euro-Atlantic Partnership Council
The Euro-Atlantic Partnership Council (EAPC) began as the North Atlantic Cooperation Council (NACC) after NATO’s extension. Established on 8 November 1991 to discuss cooperation on mutual political and security issues.
Europe
Europe, the second smallest continent, is densely populated and divided into many different countries, which reflect the enormously varied physical, ethnic, cultural, and economic nature of the area. Learn more about Europe here.
European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) was established on 8-9 January 1990 to facilitate the transition of seven centrally planned economies in Europe to market economies by committing 60% of its loans to privatization.
European Central Bank
The European Central Bank (ECB) was established on 1 June 1998 to administer the EU Eurozone member states’ monetary policy.
European Community
The name was replaced in 1993 by the term European Union. The European Community continues to serve as a governing and administrative body for the EU.
European Economic Community
An economic organization designed to secure the benefits of large-scale production by pooling resources and markets. The name has been changed to Economic Union. See also Common Market.
European environmental agency
An agency that provides the European Union with reliable information about the environment.
European Free Trade Association
An organization that maintains free trade among its members allows each member to set its own tariffs in trading with the outside world.
European Investment Bank
The European Investment Bank (EIB) was established on 25 March 1957 to promote the economic development of the EU and its predecessors, the EEC and the EC.
European Organization for Nuclear Research
The European Organization for Nuclear Research (CERN) was established on 1 July 1953 to foster nuclear research for peaceful purposes only.
European Space Agency
The European Space Agency (ESA) was established on 31 May 1975 to promote peaceful cooperation in space research and technology.
European Union
European Union. Members are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden. The United Kingdom left the EU on 31 January 2020.
Eurozone
Eurozone, or Euro area; The 19 euro area members of the EU are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain. Their common currency is the Euro.