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Except there is no such thing as the EU Parliament. It is called the European Parliament:

It's called 'European Parliament' but it's not the Parliament of Europe because EU is not Europe.

Like the MLB 'World Series' ... not quite.

It's literally called the European Parliament. Calling it the EU Parliament is like insisting we write Micro$oft instead of Microsoft.

Referring to this institution as such means calling it the European Parliament (EP), because that is what it is formally known as in English.

Calling the European Parliament "EU Parliament" would be like calling the US Congress "USA Parliament". Not wrong, but silly.

I think in the US example it would be like people referring to USA congress as "America Congress" instead of "US Congress".

IMHO, implying that there's a political institution for a continent while that's false is weird.