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The EP is a directly elected parliament representing the citizens of the EU member states, it is the assembly of the representatives of the 500 million Union citizens. Since 1979 they have been elected by direct universal suffrage. The Lisbon Treaty set the total number of EP seats to 751 and the number of Members of the EP (MEPs) per country is set by a European Council decision adopted unanimously on the EP proposal. The EP, in agreement with the Council, decides on the European policies.
http://europa.eu/about-eu/institutions-bodies/european-parliament/index_en.htm