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The European Community (EC) was created in 1957 as part of the European Economic Community (EEC) with the mission of fostering trade cooperation and easing tensions in post-World War II Europe. With the Treaty of Rome, it formed the first economic association between six European nations: Belgium, West Germany, France, Italy, Luxembourg, and the Netherlands.
The EC created the European Coal and Steel Community (ECSC) in 1951, which merged the coal and steel industries of its members in order to prevent another war. It was followed by the creation of the European Atomic Energy Community (EAEC) in 1958, a body to regulate nuclear energy, research, and development in Europe.
The goal of the EC is to promote economic and social progress between the members. To do this, it was assigned the task of creating a common market including the complete removal of customs duties and restrictions on the movement of goods, services, and people among the member states. Acting in a number of areas including competition, transportation, taxation and consumer protection, the EC continues to ensure the economic integration of its members.
The most effective part of the EC was the establishment of the Single European Act in 1987, which focused on free trade and unifying the economies of the member states. It created the first European trade agreements with non-member states and laid an important groundwork for the single European currency - the euro - which was adopted in 1999.
The European Community was replaced with the European Union in 1993 when the Maastricht Treaty was adopted. With this treaty, the EC assumed new institutional and legal forms, further enhancing economic and social cooperation among its members.
Today, the European Community is still a major factor in the international economy, with its members influencing global markets and events. The EC has continued to foster greater economic and social cooperation among its members, and it has been instrumental in creating the euro, the common currency of seventeen countries in the European Union that has had a dramatic impact on Europe’s economy. The EC is an example of how the world can move towards greater geopolitical harmony and serves as an important force in international relations today.
The EC created the European Coal and Steel Community (ECSC) in 1951, which merged the coal and steel industries of its members in order to prevent another war. It was followed by the creation of the European Atomic Energy Community (EAEC) in 1958, a body to regulate nuclear energy, research, and development in Europe.
The goal of the EC is to promote economic and social progress between the members. To do this, it was assigned the task of creating a common market including the complete removal of customs duties and restrictions on the movement of goods, services, and people among the member states. Acting in a number of areas including competition, transportation, taxation and consumer protection, the EC continues to ensure the economic integration of its members.
The most effective part of the EC was the establishment of the Single European Act in 1987, which focused on free trade and unifying the economies of the member states. It created the first European trade agreements with non-member states and laid an important groundwork for the single European currency - the euro - which was adopted in 1999.
The European Community was replaced with the European Union in 1993 when the Maastricht Treaty was adopted. With this treaty, the EC assumed new institutional and legal forms, further enhancing economic and social cooperation among its members.
Today, the European Community is still a major factor in the international economy, with its members influencing global markets and events. The EC has continued to foster greater economic and social cooperation among its members, and it has been instrumental in creating the euro, the common currency of seventeen countries in the European Union that has had a dramatic impact on Europe’s economy. The EC is an example of how the world can move towards greater geopolitical harmony and serves as an important force in international relations today.