The european union was formally established (with the Maastricht treaty) on november 1,1993. However,january 1,2002,is a day that many people remember. It wasn't just the start of another new year. It was also the start of a new era for the 304 million people living in 12 european countries. On that day, the official currency of their countries. The european union cerrently has 27 member states, and new member are expected to join. Citizens of member countries can travel freely, live,study, and workin any of the member countries.