Which of the following statements are true about the European Union?

a. The European Union has a common security policy along with a common currency and anthem.
b. Under the Maastricht Plan, all of Europe was extended aid and economic assistance by the USA.
c. The combined share of world trade of EU is much larger than that of USA.
d. It has expanded to include members from the erstwhile Soviet bloc.

a, c and d only

The correct answer is Option 2 - a, c and d only

Given statements;

a. The European Union has a common security policy along with a common currency and anthem.
b. Under the Maastricht Plan, all of Europe was extended aid and economic assistance by the USA. (incorrect)
c. The combined share of world trade of EU is much larger than that of USA.
d. It has expanded to include members from the erstwhile Soviet bloc.

The European Union has evolved over time from an economic union to an increasingly political one. The EU has started to act more as a nation state. While the attempts to have a Constitution for the EU have failed, it has its own flag, anthem, founding date, and currency. It also has some form of a common foreign and security policy in its dealings with other nations. The European Union has tried to expand areas of cooperation while acquiring new members, especially from the erstwhile Soviet bloc. The process has not proved easy, for people in many countries are not very enthusiastic in giving the EU powers that were exercised by the government of their country. There are also reservations about including some new countries within the EU.

The EU has economic, political and diplomatic, and military influence. The European Union’s GDP is projected to be approximately $19.35 trillion in the year 2024. Its currency, the euro, can pose a threat to the dominance of the US dollar. Its share of world trade is much larger than that of the United States allowing it to be more assertive in trade disputes with the US and China. Its economic power gives it influence over its closest neighbours as well as in Asia and Africa. It also functions as an important bloc in international economic organisations such as the World Trade Organisation (WTO).