Also, EEA - European Economic Area - extends way beyond Europe, to countries like Kazakhstan and Georgia. Political futurists very seriously predict, that in a few decades we'll be talking about North African countries joining European Union, because Mediterranean Sea is not as much a natural border as Sahara is and separates them from the other African countries. And EU is very much invested, both politically and financially, in peace processes and encouraging the development of democracy in North Africa.
As in all unions - the more, the merrier :) And a name of a union is a thing to be adjusted or changed, not to be dogmatically followed.
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