European Union, Euro Zone, Schengen Area

What are the differences?

European Union

Is a political and economic union between 27 countries. One of the most important institutions of this union is the European Commission, the Council of the European Union, the European Parliament, the Court of Justice of the European Union, the European Central Bank.
The European Union aims at free movement of persons, goods and services, legislation in the judiciary and domestic affairs and the maintenance of common policies in the areas of trade, agriculture, fishing and regional development.

Euro-zone

Is a financial or monetary union between 17 EU countries that have adopted the euro as the official currency of each country.
The euro area consists of: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
Although there is no common representation, governance or monetary policy of the monetary union, some cooperation takes place through the euro group, which makes political decisions on the euro area and the euro.

The Schengen area

Is an area of 26 European and non-European countries. This region has abolished the passport and any other type of border control on their common border where it is possible to travel and move freely as if they were in one country.
This agreement guarantees the freedom of movement of 400 million European citizens or citizens of non-European countries and legally resident in such countries as businessmen, tourists.