Europe Day is observed annually on May 05, 2017. There are two separate designations of Europe Day: The Council of Europe's day was established in 1949, while the European Union's (EU) day celebrates the day the EU's predecessor was proposed in 1950. For the EU, the day is also known as Schuman Day, commemorating the historical declaration by French foreign minister Robert Schuman.
The Council of Europe was founded on May 5, 1949. The same day was chosen for its celebrations when the holiday was established in 1964. In 1985, the European Communities (later EU) adopted the European symbols of the Council of Europe, but decided to hold their Europe Day on May 9, in memorial of the Schuman Declaration of 1950.
Europe is, by convention, one of the world's seven continents. It is the world's second-smallest continent by surface area. The European Union is an economic and political union of member states that are located primarily in Europe. The EU has developed a single market through a standardized system of laws. In addition a monetary union, the Eurozone, was established in 1999. (With material from: Wikipedia).