European Economic Community (EEC)

3 key takeaways:

• The EEC was established in 1957 to promote economic integration among its member states.
• It aimed to create a common market and customs union.
• The EEC evolved into the European Union (EU) with the Maastricht Treaty in 1993.

What was the European Economic Community (EEC)?

The European Economic Community (EEC) was an economic organization founded by the Treaty of Rome in 1957. Its primary goal was to promote economic integration among its member states through the creation of a common market and a customs union. The six founding members were Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. The EEC sought to eliminate trade barriers, establish a common external tariff, and harmonize economic policies to foster economic growth and stability in post-war Europe.

The establishment of the EEC was driven by the desire to ensure peace and stability in Europe through economic cooperation and integration. By creating a single market where goods, services, capital, and labor could move freely, the EEC aimed to enhance economic prosperity and reduce the likelihood of conflict among its member states.

How did the European Economic Community work?

The EEC operated through several key institutions that facilitated decision-making and implementation of its policies. These institutions included:

1. The European Commission: The executive arm responsible for proposing legislation, implementing decisions, and upholding the EEC treaties.
2. The Council of Ministers: Comprised of representatives from each member state, the Council made decisions on policy matters and adopted legislation proposed by the Commission.
3. The European Parliament: Initially a consultative body, the Parliament’s role evolved to include legislative and budgetary powers.
4. The European Court of Justice: Ensured the uniform interpretation and application of EEC law across member states.

The EEC’s main achievement was the establishment of a common market, which involved the removal of internal tariffs and the establishment of a common external tariff. This integration facilitated increased trade and economic cooperation among member states. The EEC also developed common policies in areas such as agriculture, transportation, and competition to ensure a level playing field and to promote economic convergence.

Over time, the EEC expanded its membership and deepened its integration. The United Kingdom, Denmark, and Ireland joined in 1973, followed by Greece, Spain, and Portugal in the 1980s. The Single European Act of 1986 further advanced economic integration by setting a timeline for the completion of the single market.

Key features of the European Economic Community:

The EEC provided several key benefits to its member states. One of the main advantages was the promotion of economic growth and stability through the creation of a single market. By removing trade barriers and harmonizing economic policies, the EEC facilitated increased trade, investment, and economic cooperation among its members.

Another important feature of the EEC was its role in fostering political cooperation and stability in Europe. By integrating their economies, member states were able to build stronger political relationships and reduce the likelihood of conflict. The EEC also played a key role in the broader process of European integration, which ultimately led to the formation of the European Union (EU).

Related topics:

• European Union (EU): Understanding the organization that succeeded the EEC and its current role in Europe.
• Treaty of Rome: Insights into the founding treaty of the EEC and its significance.
• Single European Market: Exploring the evolution and impact of the single market established by the EEC.

Exploring these related topics will provide a comprehensive understanding of the European Economic Community (EEC), its role in European integration, and its legacy in the form of the European Union.