A Beginner’s guide to the europeAn union
21 October 2022
1992 to the Present: The European Union (EU) The twelve members of the European Communities signed the Maastricht Treaty in 1992 and became the ‘EU’. [...] There are now two key EU treaties: • The Treaty on European Union, which sets out the aims and objectives of the EU and its values, identifies the EU institutions, and covers Common Foreign and Security Policy • The Treaty on the Functioning of the EU, which sets out all the other policies of the EU, such as the single market, the legislative procedures to be adopted, and the powers of the differe. [...] Switzerland is not a part of either the EU or the EEA, but it does have access to the Single Market through a series of bilateral Treaties leAving the eu The process for leaving the EU is set out in Article 50 of the Treaty on European Union. [...] A Beginner’s guide to the europeAn union 17 The Council and Parliament also set the financial and audit processes the Commission must follow, with the Parliament deciding whether to approve the Commission’s handling of the budget each year. [...] They are supported by national Ambassadors to the EU – known as ‘Permanent Representatives’ - who form the Committee of the Permanent Representatives of the Government of the Member States to the European Union (COREPER).