iel Marc
COHN-BENDIT]; Socialist Group in the European Parliament or PES
[Martin SCHULZ]; Confederal Group of the European United Left-Nordic
Green Left or EUL/NGL [Francis WURTZ]; European People's
Party-European Democrats or EPP-ED [Hans-Gert POETTERING]; Union for
Europe of the Nations Group or UEN [Brian CROWLEY and Cristiana
MUSCARDINI]

International organization participation:
European Union: ASEAN (dialogue member), ARF (dialogue member),
EBRD, IDA, OAS (observer), OECD, WTO
European Commission: Australian Group, CBSS, CERN, FAO, G-10, NSG
(observer), UN (observer)
European Central Bank: BIS
European Investment Bank: WADB (nonregional member)

Diplomatic representation in the US:
chief of mission: Ambassador John BRUTON
chancery: 2300 M Street, NW, Washington, D.C. 20037
FAX: [1] (202) 429-1766
telephone: [1] (202) 862-9500

Diplomatic representation from the US:
chief of mission: Ambassador Rockwell SCHNABEL
embassy: 13 Zinnerstraat (Rue Zinner), B-1000 Brussels
mailing address: same as above
telephone: [32] (2) 508-2222
FAX: [32] (2) 512-5720

Flag description:
on a blue field, 12 five-pointed gold stars arranged in a circle,
representing the union of the peoples of Europe; the number of stars
is fixed

Economy European Union

Economy - overview:
Domestically, the European Union attempts to lower trade barriers,
adopt a common currency, and move toward convergence of living
standards. Internationally, the EU aims to bolster Europe's trade
position and its political and economic power. Because of the great
differences in per capita income (from $10,000 to $28,000) and
historic national animosities, the European Community faces
difficulties in devising and enforcing common policies. For example,
both Germany and France since 2003 have flouted the member states'
treaty obligation to prevent their national budgets from running
more than a 3% deficit. In 2004, the EU admitted 10 central and
eastern European countries that are, in general, less advanced
technologically and economically than the existing 15. The Economic
and Monetary Union (EMU), an associated organization, introduced the
euro as the common currency on 1 January 1999. The UK, Sweden, and
Denmark do not now participate; the 10 new countries may choose to
join the EMU when they meet its fiscal and monetary criteria and the
member states so agree.

GDP: