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Concept
European Economic Community
Summary
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957, aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union in 1993. In the popular language, however, the singular European Community was sometimes inaccurately used in the wider sense of the plural European Communities, in spite of the latter designation covering all the three constituent entities of the first pillar.
In 2009, the EC formally ceased to exist and its institutions were directly absorbed by the EU. This made the Union the formal successor institution of the Community.
The Community's initial aim was to bring about economic integration, including a common market and customs union, among its six founding members: Belgium, France, Italy, Luxembourg, the Netherlands and West Germany. It gained a common set of institutions along with the European Coal and Steel Community (ECSC) and the European Atomic Energy Community (EURATOM) as one of the European Communities under the 1965 Merger Treaty (Treaty of Brussels). In 1993 a complete single market was achieved, known as the internal market, which allowed for the free movement of goods, capital, services, and people within the EEC. In 1994 the internal market was formalised by the EEA agreement. This agreement also extended the internal market to include most of the member states of the European Free Trade Association, forming the European Economic Area, which encompasses 15 countries.
Upon the entry into force of the Maastricht Treaty in 1993, the EEC was renamed the European Community to reflect that it covered a wider range than economic policy. This was also when the three European Communities, including the EC, were collectively made to constitute the first of the three pillars of the European Union, which the treaty also founded.
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Ontological neighbourhood
Related publications (25)
Related concepts (24)
European integration
European integration is the process of industrial, economic, political, legal, social, and cultural integration of states wholly or partially in Europe or nearby. European integration has primarily come about through the European Union and its policies. In antiquity, the Roman Empire brought about integration of multiple European and Mediterranean territories. The numerous subsequent claims of succession of the Roman Empire, even the iterations of the Classical Empire and its ancient peoples, have occasionally been reinterpreted in the light of post-1950 European integration as providing inspiration and historical precedents.
Enlargement of the European Union
The European Union (EU) has expanded a number of times throughout its history by way of the accession of new member states to the Union. To join the EU, a state needs to fulfil economic and political conditions called the Copenhagen criteria (after the Copenhagen summit in June 1993), which require a stable democratic government that respects the rule of law, and its corresponding freedoms and institutions. According to the Maastricht Treaty, each current member state and the European Parliament must agree to any enlargement.
European Economic Area
The European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic rules. These rules aim to enable free movement of persons, goods, services, and capital within the European single market, including the freedom to choose residence in any country within this area.