The European Union was founded in 1957 by Belgium, France, Italy, Luxembourg, The Netherlands and Germany. Ireland joined the European Union in 1973 alongside Denmark and the United Kingdom. The European Union currently consists of 28 countries. The capital of the European Union is Brussels, Belgium. Membership is open to any country with a democratic government, a good human rights record and sound economic policies. The EU is run by five main bodies: European Parliament, Council of the Union, European Commission, Court of Justice, and the Court of Auditors. An estimated 743.1 million people live within the European Union. The EU has 65 institutions,bodies and agencies. Within the EU there are 19 members of the euro-zone currency area. There are 751 members of the European Parliament (MEPs). it is the world's largest economy with a nominal GDP of € 18.5 bn (£ 14.6 bn , $20.2 bn) for all 28 Economies combined.