What is the European Economic Community?

The European Economic Community is the name of the Treaty between Italy, France and Germany, which was signed in Rome in 1957. Belgium, Luxembourg and the Netherlands, which were known as the Benelux country at that time. The contract on the European Economic Community was to associate Member States to help strengthen their military and economic forces. Member States have introduced the parliamentary assembly for the management of the contract. The European Economic Community eventually became known as the European Union (EU). It was believed that the treaty would lead to fair trade and bring prosperity to insufficiently developed regions. Member States agreed to business policies that would limit commercial trade to countries outside their connection. In this way, they hoped that they would be able to perform some control of prices and workout. The economic development that Member States had hoped to achieve was based on what was called "four freedoms", which would ensure free transport of people, goods, moneyand services between Member States.

Another main objective of the European Economic Community was related to the development of atomic energy. During this time, many countries tried to develop atomic energy for domestic and military use. Together they created the European Community of Atomic Energy, which later became called Euratom. Unlike many other nuclear programs, the Euratom had a set goal to develop nuclear energy only for peaceful home purposes. None of the original six Member States was rich enough to start such a program, but by associating their resources they could join the nuclear community.

Between 1957 and 2005, the European Economic community has undergone many changes and has added many new members. One of the most important events in relation to the contract was the addition of Denmark, Ireland and the UK. These countries signed a contract in 1972 and followed by Greece in 1979. InIn 1994, Spain, Portugal, Sweden, Finland and Austria signed a contract that increased the total Member States to 15 by 2005, and the large block of Eastern European countries also signed an agreement, which brought a total membership of 27 years.

27 countries that formed the European Economic Community became known as the EU. The EU is considered one of the strongest trade unions in the world. They share the common market and are considered strong military allies. The European Union's business policies are considered to be some of the most successful business policies ever created.