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European Union was created on 1st November, 1993 by Maastricht Treaty between European countries in Netherlands. Six founding member countries of European Union are Belgium, France, Germany, Italy, Luxembourg and Netherlands, with U.K., Denmark and Ireland joining in 1973. As of now, European Union is a union of 28 European countries sharing Political and Economic relations. It was set up to end frequent wars between Neighbours which culminated into second world war. It has four institutions which work together- European Union, European parliament, Council of European Union and Court of Justice. It was awarded Nobel Peace Prize in 2012 for promoting Peace, Human Rights and Democracy in Europe. The Maastricht treaty officially known as Treaty on European Union sets out beginning of a new era of starting process of creating closer union among the people of Europe. It laid foundation of a single currency - Euro - and expanded co-operation between European countries. It was signed on 7t