European Economic Community

The European Union (EU) is a political and economic community with supranational and intergovernmental features. [2;5]It is composed of twenty-seven member states primarily located in Europe. In 1957, six European countries (Belgium, Netherlands, Luxembourg, France, West Germany, and Italy) formed the European Economic Community (EEC) by the Treaty of Rome. The same six countries signed the Treaty of Rome, establishing the European Economic Community (EEC), better known as the Common Market. And later, these countries signed Single European Act (SEA). And last stage is Economic and Monetary Union (EMU) which is the Maastricht Treaty. These Treaties have contributed to make such transnational change on the continent of Europe. As well as, international entity, which is European Union, has some advantages and disadvantages. The European Community (EC) was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community.[8] The author has chosen a theme “European Community” since it is the vital issue presently. This community mentions all European Union as a whole. The author will try to describe the main problems of this community, will give its brief characteristic. Author will describe: • EEC history; • EEC description; • Community Pillar; • Within the EU; • EEC structure; • The future of the EEC. European Communities was the name given collectively to the European Economic Community (EEC), the European Atomic Energy Community (Euratom) and the European Coal and Steel Community (ECSC), when in 1967, their organs were merged with the Merger Treaty. [1;3] The term now technically only refers to the EEC and Euratom, as the ECSC expired in 2002. Soon after the establishment of the ECSC two more European Communities were proposed: European Defence Community and European Political Community. They were later rejected. The EEC, established in 1958, soon became the most important of these three communities, subsequent treaties added further areas of competence extending beyond the purely economic. The other two communities remained extremely limited. The ECSC ceased to exist when the Treaty of Paris [5] which established it expired in 2002. Seen as redundant, no effort had been made to retain it — its assets and liabilities were transferred to the EC, and coal and steel became subject to the EC treaty. With the entry into force of the Maastricht Treaty in November of 1993, the European Economic Community changed its name and became the European Community[7;10]. The European Community, along with the ECSC and Euratom, became known as the European Communities and, together with the two other pillars, became collectively known as the European Union which exists today.