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European Economic Community
(redirected from the Common Market)

   Also found in: Dictionary/thesaurus, Financial, Encyclopedia 0.02 sec.

European Economic Community

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A poster advocating Britain's departure from the European Economic Community (EEC). Its simply stated message suggests the idea of a referendum without using the actual word.

Organization established, together with the European Atomic Energy Community (Euratom), under the terms of the 1957 Treaties of Rome. The treaties provided for the establishment by stages of a Common Market based on a customs union, the convergence of economic policies, and the promotion of growth in the nuclear industries for peaceful purposes.

The EEC followed earlier moves towards European integration in the form of the European Coal and Steel Community (ECSC), created in 1951 by Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands. The EEC, ECSC, and Euratom evolved collectively into the European Union (EU).



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