European Economic Community
- European Economic Community
The European common market set up by the six member states of the European Coal and Steel Community (ECSC) in 1957. At the same time the European Atomic Energy Community (Euratom) was set up. The European Parliament and the European Court of Justice were formed in accordance with the Treaty of Rome in 1957. The treaty aimed to forge a closer union between the countries of Europe by removing the economic effects of their frontiers. This included the elimination of customs duties and quotas between members, a common trade policy to outside countries, the abolition of restrictions on the movement of people and capital between member states, and a Common Agricultural Policy In addition to these trading policies, the treaty envisaged a harmonization of social and economic legislation to enable the Common Market to work. The European Community (EC) was created in 1967, when the controlling bodies of the EEC, ECSC, and Euratom were merged to form the Commission of European Communities (see European Commission) and the Council of European Communities. The UK, Ireland, and Denmark joined the EC in 1973, Greece joined in 1981, and Portugal and Spain became members in 1986, making a total of 12 nations. In 1993 the European Community became the European Union, which has since been joined by a further 13 nations. See also European Monetary System
Big dictionary of business and management.
2014.
Look at other dictionaries:
European Economic Community — (EEC) the third of the three foundation organisations of what is now the European Union. Constituted by one of the Rome Treaties of March 1957, this community drove progress towards European integration. Its common market was the source of… … Law dictionary
European Economic Community — ˌEuropean ˌEconomic Comˈmunity abbreviation EEC noun ORGANIZATIONS an old name for the European Community, used especially when it was referred to in relation to its economic institutions, for example the agreement to allow goods and services to… … Financial and business terms
European Economic Community — n. an organization of European nations, created in 1957, for advancing economic integration as by eliminating trade barriers … English World dictionary
European Economic Community — [jʊərə piːən iːkə nɔmɪk kə mjuːnɪtɪ, englisch], Abkürzung EEC, die Europäische Wirtschaftsgemeinschaft … Universal-Lexikon
European Economic Community — EEC redirects here. For other uses, see EEC (disambiguation). This article is about the multinational organization established in 1957 and became part of the first European Union pillar from 1993 to 2009. For the collective of the three European… … Wikipedia
European Economic Community (EEC) — later European Community (EC) known as the Common Market Association of European countries designed to promote European economic unity. It was established by the Treaty of Rome in 1957 to develop the economies of the member states into a single… … Universalium
European Economic Community — noun an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members he tried to take Britain into the Europen Union • Syn: ↑European Union, ↑EU, ↑European… … Useful english dictionary
European Economic Community — /ˌjυərəpi:ən i:kənɒmɪk kə mju:nɪti/ noun a grouping of European countries which later became the European Union. Abbreviation EEC. Also called European Community … Dictionary of banking and finance
European Economic Community — (EEC) Established in 1957 to create a common market, and after 1967 often used also to describe the combined EC operation. The Treaty on European Union changed its name to the European Community … Glossary of the European Union and European Communities
European Economic Community — or Common Market geographical name economic organization subsumed within the European Union … New Collegiate Dictionary
