Published Mar 7, 2023 The European Community (EC) was a regional organization established in 1957 by the Treaty of Rome. It was one of the three pillars of the European Union (EU) until it became a part of the EU itself in 1993. The primary objective of the EC was to promote economic and political cooperation among its member states, which started with just six countries and eventually grew to 12 by the time it became part of the EU. The EC aimed to create a common market and harmonize policies and regulations among its members. One significant example of the EC’s impact was the establishment of the European Single Market. The EC implemented policies that eliminated trade barriers among its members, such as customs duties and other regulatory measures that hindered the free flow of goods, services, and capital. Additionally, the EC implemented policies to promote the mobility of workers, allowing people to find work in other member countries. Another example of the EC’s impact was the establishment of the Common Agricultural Policy (CAP). The CAP aimed to improve the agricultural industry in member countries, ensure food security for its citizens, and stabilize markets. The policy achieved this by providing financial support to farmers, regulating the supply and demand of agricultural products, and implementing measures to protect the environment. The European Community played a crucial role in creating a unified Europe that put cooperation among its member states into practice. The EC paved the way for the formation of the European Union, which has become an essential player in the global economy and politics. The EC’s policies encouraged economic growth and provided opportunities for businesses, individuals, and communities. Its legacy can still be seen today in the EU’s institutions, policies, and initiatives.Definition of European Community (EC)
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Why European Community (EC) Matters
Macroeconomics