European Community

Definition

The European Community (EC) was an economic association established in 1957, initially consisting of six Western European countries, aimed at promoting economic integration and cooperation among its member states. It represented a crucial step towards the unification of Europe in the post-World War II era, fostering peace, stability, and prosperity through a common market and the elimination of trade barriers.

5 Must Know Facts For Your Next Test

1. The European Community was created through the Treaty of Rome in 1957, signed by Belgium, France, Italy, Luxembourg, Netherlands, and West Germany.
2. One of its primary goals was to create a common market, allowing free trade and movement between member countries.
3. The EC helped to reduce tariffs and other trade barriers, significantly boosting economic growth in Western Europe during the postwar period.
4. In 1993, the European Community was absorbed into the larger framework of the European Union, which included political and monetary integration.
5. The EC's establishment marked a significant shift towards cooperation in Europe, contributing to long-term peace and stability on the continent after centuries of conflict.

Review Questions

• How did the formation of the European Community impact economic cooperation in Western Europe?
  • The formation of the European Community significantly enhanced economic cooperation in Western Europe by creating a common market that allowed for the free flow of goods and services among member states. This reduction in trade barriers fostered increased trade and investment within Europe, leading to economic growth and stability. Additionally, it set a precedent for further political collaboration among nations that had previously been adversaries during World War II.
• Evaluate the role of the European Community in promoting peace and stability in post-World War II Europe.
  • The European Community played a pivotal role in promoting peace and stability in post-World War II Europe by fostering economic interdependence among its member states. By integrating economies and reducing tensions through collaboration, former adversaries were encouraged to work together towards common goals. This cooperative spirit helped mitigate the risk of future conflicts and laid the groundwork for a more unified Europe that prioritized dialogue over discord.
• Discuss how the transition from the European Community to the European Union reflects broader trends in regional integration.
  • The transition from the European Community to the European Union illustrates broader trends in regional integration by showcasing a shift from purely economic collaboration to deeper political and social unity. The Maastricht Treaty marked a significant step towards not only an integrated market but also a shared governance structure that encompassed various aspects such as foreign policy and security. This evolution reflects global movements toward regional blocks aiming for collective strength in addressing challenges like economic crises, migration issues, and geopolitical tensions, emphasizing that cooperation is essential in today's interconnected world.

Related terms

European Economic Community (EEC): A regional organization created by the Treaty of Rome in 1957 to promote economic integration among its member states, which later became part of the European Union.

Single Market: An economic system that allows for the free movement of goods, services, capital, and labor among member states, essential to the functioning of the European Community.

Maastricht Treaty: A treaty signed in 1992 that led to the creation of the European Union and laid the groundwork for further political and economic integration beyond what was established by the European Community.