European Union (Encyclopedia of Business and Finance)  The
European Union is an ever-evolving alliance of fifteen European
countries designed to foster economic cooperation among its
members. With its roots stretching back to just after World War
II, this alliance has the ultimate goal of unifying the economic
interests of these countries in order to reduce the chance of
widespread armed conflict returning to the European continent.
In the early 1950s, Germany and France spear headed the
establishment of the European Coal and Steel Community. At this
time, West Ger many was in the process of rebuilding its war
ravaged steel industry under the direction of the United States
and Great Britain. This was an understandable source of concern
for France, as German industrial might had been used against the
French in the two world wars earlier in the century.
Consequently, a federation that would govern these important
economic resources won the approval of both the French and
Germans. They were also joined by Ital