The European Union (EU) is a political and economic union of 18 member states that are located in Europe. The EU has developed an internal single market through a standardised system of laws that apply in all member states. EU policies aim to ensure the free movement of people, goods, services and capital within the internal market, enact legislation in justice and home affairs and maintain common policies on trade, agriculture, fisheries and regional development. Within the Schengen Area, passport controls have been abolished. All EU member states are members of a monetary union which uses the euro currency.