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Research Paper (undergraduate) from the year 2012 in the subject Business economics - Economic Policy, grade: 1, Sofia University St. Klimment Ohridski, language: English, abstract: The European Union (EU) consists of 27 European countires. The political System is based on two treaties which are as follows: Treaty on European Union (TEU) and Treaty on the Functioning (TFEU) of the European Union. Furthermore they constitute the Economic and Monetary Union (EMU) in which 17 states belong to the euro zone. [...]