Creation of European Union Mrs. Craig

European Economic Integration 1 st GATT-- General Agreements on Tariffs and Trade 23 nations Became the foundation for postwar global commerce Provided a framework for continuing negotiations (rounds) By nations were participating

European Economic Integration 2 nd —1952– European Coal and Steel Community---- ECSC HQ--- Luxembourg Inner Six- Benelux nations + France, Italy, W Germany Placed their coal/steel under a form of supranational authority Eliminated tariffs, duties & quotas on coal/steel

European Economic Integration 3 rd – ECC – European Economic Community HQ –Brussels Created by Treaty of Rome Created a larger free trade area or customs union Eliminate all trade barriers One common tariff with outside world Free movement of capital and labor

European Economic Integration 4 th combined ECSC and EEC to form the EC European Community HQ– Brussels European Parliament---- “Eurocrats” 518 members (elected by all voters in Europe)– limited legislative power Created Court of Justice

European Economic Integration 5th Maastricht Agreements European Union created from the EC. “one currency, one culture, one social area and one environment” Create s frontier –free Europe– one common EU passport One large common market--- goods into EU would have high tariffs on them common currency– Euro creates 60,000man EU rapid defense force