University of Szeged 401-500 in the world, 124th–168th in the scientific ranking of European universities, and second in the national ranking. In 2014, the QS World University Rankings put the University of Szeged as 501-550 among universities globally. Its highest ranked subject area was Modern Languages with 101-150 globally. The University's operating budget for 2014 was US$220 million. The predecessor to the modern university was the University of Kolozsvár (University of today's Cluj-Napoca), founded in 1872 by Emperor Franz Joseph I., which had to move to Hungary after the Treaty of Trianon in 1921, and was restarted in Szeged. Among its teachers were
Third-country economic relationships with the European Union is considered part of the EU single market. Iceland has also signed the Schengen treaty. On 16 July 2009, Iceland applied to join the European Union. Liechtenstein joined the EEA in 1995 and participates in the EU single market. Switzerland referendum to join the EEA in 1992 failed, so Swiss products do not participate in the European single market. However the country recently negotiated two series of bilateral agreements with the Union. The first series, Bilateral Agreements I, consists of seven bilateral agreements and was signed in 1999 (entry into force in 2001), the main part being Free Movement of