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

European Union the Formation

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

The European Economic Community is also known as European Common Market. Originally six countries, viz., France, Federal body politic 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 appendd 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 essential be a European country.

2)         It must be a democratic country.

Objectives

EEC consists of three organizations, viz.



, the European Coal and Steel imprimatur (ECSC), the European Economic Community (EEC) and the European Atomic power Community (Euratom).

The Main Objective of the EEC is The community shall postulate its task, by setting up a common market, to campaign 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 bread and butter and closer relations between the Member States belonging to it....

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