What is the News?
The European Union(EU) countries have gathered in Brussels, Belgium for a two-day summit. During the summit the EU leaders has agreed to donate 100 million doses of Covid-19 vaccines
Key Highlights of the Summit: During the Summit:
- Firstly, the European Union leaders have committed to donate at least 100 million doses of coronavirus vaccines to middle and low-income countries before the end of 2021.
- Secondly, the EU will provide assistance to non-EU countries to help them develop local manufacturing capacity.
- Thirdly, the EU has reiterated their support for the UN-backed COVAX programme.
- COVAX program aims to ensure equitable access to COVID-19 shots for low-and middle-income countries.
- Lastly, the summit did not mention anything about lifting the intellectual property rights of Covid-19 vaccines proposed by countries like India and South Africa.
About European Union(EU):
- European Union (EU) is a political and economic union of 27 member states primarily located in Europe.
- The EU was created by the Maastricht Treaty. The treaty entered into force on November 1,1993.
- The EU has developed an internal single market through a standardised system of laws that apply in all member states.
- Five main bodies run the EU: the European Parliament, the Council of the Union, the European Commission, the Court of Justice, and the Court of Auditors.
- Among EU countries, 19 use EURO as their official currency. 8 EU members (Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania and Sweden) do not use the euro.
- Significance: The EU was awarded the Nobel Prize for Peace in 2012, in recognition of the organization’s efforts to promote peace and democracy in Europe.
- Headquarters: Brussels, Belgium.
Source: The Hindu