Anatomy of a Regional Trading Bloc : The European Union (from the date of Formation to the year 2003)

Essay by guns_1985University, Bachelor'sA, August 2004

download word file, 30 pages 5.0

Downloaded 201 times

European Union the Formation

Originally the European Coal and Steel Community (ECSC) was formed with the then West Germany, France, Italy Belgium, Netherlands and Luxembourg in 1952. The aim of the ECSC was to eliminate import duties and quotas on coal, iron ore, steel and scrap regarding the international trade among the member countries. The successful functioning of ECSC stimulated the member countries to extend this facility to all commodities by the Treaty of Rome in 1957. This treaty gave birth to European Economic Commission or other wise Known as European Union.

The European Economic Community is also known as European Common Market. Originally six countries, viz., France, Federal Republic of Germany, Italy, Belgium, Netherlands and Luxembourg formed into the European Economic Community (EEC) by the treaty of ROME., 1957. IT CAME INTO BEING ON 1ST January, 1958. The number of member countries of the EEC increased from 6 to 9 on January 1, 1973 as UK, Ireland and Denmark joined the Union.

Greece joined the EEC in 1981 and Portugal and Spain joined in 1984. Austria, Finland and Sweden joined the Community on Jan 1, 1986. Now the EEC has 15 Members. The requirements joining the EEC as members are:

1) The country must be a European country.

2) It must be a democratic country.


EEC consists of three organizations, viz., the European Coal and Steel Authority (ECSC), the European Economic Community (EEC) and the European Atomic Energy Community (Euratom).

The Main Objective of the EEC is "The community shall have its task, by setting up a common market, to promote throughout the community a harmonious development by economic activities, a continuous and a balanced expansion, an increase in stability and accelerated raising of the standard of living and closer relations between the Member States belonging to...