The European Union is an economic and political partnership between 28 European countries that has delivered peace, stability, and prosperity over the past 50 years. The EU's mission is to maintain peace between member states, promote economic and social solidarity, and preserve European identity in a globalized world. The EU system includes institutions like the European Parliament and European Commission, as well as policies around legal matters, social issues, and a shared economy and currency. The EU spends over 150 billion euros annually according to an agreed budget.