EEC is more than a customs union. It is some thing between the common market and an economic union, the latter being its ultimate goal. There is now trade, capital and monetary union. There is a common agricultural, energy, environment, industry, science, capital movement, and monetary policy. There is also a European Court of Justice and anti-trust policy, and cooperation in many other fields. To achieve the objective of economic integration, the Treaty requires the member countries to (i) Remove tariff, quotas and other barriers on trade between each other; (ii) Devise a common tariff and commercial policy for the rest of the world; (iii) Allow free movement of factors of production within the Community; (iv) Harmonies their taxation and monetary policies.
(v) Adopt a common policy on agriculture and transport;
(vi) Promote competition in the common market;
(vii) Adopt procedures for coordination of economic policies of member nations for achieving the objectives of external balance, price stability and full employment; (viii) Effect coordination of legislation of member states for the smooth functioning of the Common Market; (ix) Establish a European Social Fund for readjusting unemployed workers; (x) Create a European Investment Fund.
Treaty establishing the European Economic Community, EEC Treaty - original text (non-consolidated version) The EEC Treaty, signed in Rome in 1957, brings together France, Germany, Italy and the Benelux countries in a community whose aim is to achieve integration via trade with a view to economic expansion. After the Treaty of Maastricht the EEC became the European Community, reflecting the determination of the Member States to expand the Community's powers to non-economic domains. CREATION
The establishment of the European Coal and Steel Community (ECSC) in July 1952 was the first step towards a supranational Europe. For the first time the six Member States of this organisation relinquished part of their sovereignty, albeit in a limited domain, in favour of the Community. This first drive towards integration soon came to a halt with the failure of the European Defence Community (EDC) in 1954. Although there was reason to fear that the effort undertaken by the ECSC was doomed to fail, the Messina Conference of June 1955 endeavoured to add a new impetus to European construction. It was followed by a series of meetings of ministers or experts. A preparatory committee responsible for drafting a report on the creation of a European common market was created at the beginning of 1956. It met in Brussels under the Presidency of P.H. Spaak, the Belgian Minister for Foreign Affairs at the time. In April 1956 this Committee submitted two drafts, which corresponded to the two options selected by the Member States: * the creation of a general common market;
* the creation of an atomic energy community.
It was in Rome that the famous "Treaties of Rome" were signed in March 1957. The first Treaty established the European Economic Community (EEC) and the second the European Atomic Energy Community, better known as Euratom. Since ratification at national level did not pose any problems, these two Treaties entered into force on 1 January 1958. This summary fact sheet is uniquely devoted to the EEC Treaty.
After the failure of the EDC, the economy, which was less subject to national resistance than other areas, became the focus of consensus in the field of supranational cooperation. The establishment of the EEC and the creation of the Common Market had two objectives. The first was to transform the conditions of trade and manufacture on the territory of the Community. The second, more political, saw the EEC as a contribution towards the functional construction of a political Europe and constituted a step towards the closer unification of Europe. In the preamble, the signatories of the Treaty declare that: "- determined...