Economy of the European Union, Structural Funds and Cohesion Fund, European Union

The European Union is an exclusive partnership on the basis of economy and politics in among 27 countries of Europe. The Union has inculcated harmony, stability and opulence in Europe. It has also helped to raise the standards of livelihood in the region. One of their most important contributions is the commencement of a single currency for the whole of Europe. It is gradually structuring a single market constituting the whole of Europe in which the movement of citizens, supplies, services and assets, amongst the Member States would be without any restriction, just as within a country. The single market can create free trade within the European Union and mould Europe into a single economy (Europa, n.d.).