The European Economic Community (EEC), commonly referred to as the European Common Market, was established in 1958 by the Treaty of Rome. It aimed to foster economic integration and cooperation among its member states, which were Belgium, France, (West) Germany, Italy, Luxembourg, and the Netherlands. This effort was a significant step towards creating what we now know as the European Union (EU).
Historical Context
Origins
- Post-War Europe: Following World War II, there was a strong desire to prevent further conflicts in Europe. Economic cooperation was seen as a means to achieve political stability.
- Treaty of Rome: Signed on March 25, 1957, the treaty established the EEC. It was part of the broader vision to create a unified and prosperous Europe.
Key Events
- 1958: EEC officially established with the Treaty of Rome coming into effect on January 1.
- 1967: EEC merged with the European Coal and Steel Community (ECSC) and the European Atomic Energy Community (EURATOM) to form the European Communities.
- 1993: The Maastricht Treaty transforms the EEC into the European Union (EU), expanding cooperation to include political and social dimensions.
Objectives and Policies
Trade and Economic Integration
- Abolition of Tariffs and Quotas: Removing barriers to trade among member states to create a single market.
- Common External Tariff: Establishing a unified tariff policy for trade with non-member countries.
Mobility
- Workers and Capital: Ensuring free movement of people, services, and capital within member states.
Harmonization
- Social and Economic Legislation: Standardizing laws to facilitate smoother economic and social interactions among member states.
Common Agricultural Policy (CAP)
- Agriculture: Supporting farmers and stabilizing agricultural markets through a unified policy.
Charts and Diagrams
Timeline of Key Events
timeline
title History of the European Economic Community
1957 : Treaty of Rome signed
1958 : EEC established
1967 : EEC merges with ECSC and EURATOM
1986 : Single European Act signed
1993 : Maastricht Treaty establishes the EU
Importance and Applicability
The EEC laid the groundwork for what has become one of the largest economic entities in the world—the European Union. It fostered economic cooperation, reduced trade barriers, and contributed to sustained peace in Europe.
Examples and Case Studies
- Trade Integration: The abolition of tariffs boosted intra-EEC trade significantly.
- Free Movement: Enabled millions of Europeans to work and settle in different member states.
Considerations
- Economic Disparities: While the EEC aimed to harmonize economies, disparities in wealth and development among member states were challenging.
- Sovereignty: Balancing national sovereignty with supranational governance was a constant tension.
Related Terms
- European Union (EU): The successor to the EEC, formed by the Maastricht Treaty.
- Schengen Area: A zone of free movement of people without border checks among most EU countries.
- Single European Act: An act that revised the Treaty of Rome to create a truly single internal market by 1992.
Comparisons
- NAFTA vs EEC: Unlike the North American Free Trade Agreement, the EEC aimed at a deeper level of economic and political integration.
Interesting Facts
- The EEC is one of the few economic unions that has expanded beyond mere economic objectives to political and social realms.
Inspirational Stories
- Rebuilding Europe: The EEC is a testament to the power of cooperation and unity in rebuilding war-torn Europe into a thriving and peaceful region.
Famous Quotes
- Jean Monnet: “Europe will be forged in crises and will be the sum of the solutions adopted for those crises.”
FAQs
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Q: What was the main goal of the EEC?
- A: To integrate the economies of member states to foster cooperation and prevent future conflicts.
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Q: When did the EEC transform into the EU?
- A: In 1993, following the Maastricht Treaty.
References
Summary
The European Economic Community played a crucial role in the economic and political history of Europe. Established to foster cooperation and unity among European nations post-World War II, it has evolved into the European Union, continuing to influence global economic and political landscapes. Understanding the EEC’s history, objectives, and impact is essential for comprehending the broader narrative of European integration.
