2. Chapter 3 International Economic Cooperation Trend Towards Economic Unity in Europe Since 1950 Sub-Theme 2 The Quest for Cooperation and Prosperity

3. Time Track Trend Towards Economic Unity in Europe Since 1950 The EC renamed the EU1992 The EEC was renamed the EC1967 EFTA formed1960 The EEC formed1957 The ECSC formed1952 EventYear

4. The ECSC (1952) Aims A response to the Marshall Plan All duties and restrictions on trade in coal, iron and steel of the member states were removed Major development Britain refused to join Trend Towards Economic Unity in Europe Since 1950

5. The EEC (or the Common Market) (1957) Aims An important step to turn Western countries into a single European unity It worked towards a much closer union Significance It provided great benefit to the member states Labour and capital flowed freely within the Common Market It became the worlds largest exporter of raw materials Trend Towards Economic Unity in Europe Since 1950

6. The EFTA (1960) Aims It was formed by Britain with other non-EEC countries Tariffs were abolished and free trade was established between member states Significance It was less successful than the EEC So, Britain wanted to join the EEC but was rejected Trend Towards Economic Unity in Europe Since 1950

7. The EC (1967) Origins It was renamed from the EEC Britain gained entry in 1973 Major development The Exchange Rate Mechanism was introduced in 1979 The Common Agricultural Policy was carried out The Single European Act was signed in 1986 The Treaty of Maastricht was signed in 1991 Trend Towards Economic Unity in Europe Since 1950

8. The EU (1992) Origins The EC was renamed the EU in 1992 Major development By the mid-1990s, the Community had been a great success economically It brought prosperity to the member states Trend Towards Economic Unity in Europe Since 1950

9. The End