|
A formal relationship among a group of European countries, also referred to as the European Economic Community (EEC) and more recently as the European Union (EU). The EU was established in 1958 in an attempt to integrate its members' economies through financial cooperation and free trade within the Community. The original members of the Common Market were: West Germany, France, Italy, Belgium, the Netherlands, and Luxembourg. As of the end of 1995 the European Union had grown to include all of Germany, France, Italy, the United Kingdom, Spain, the Netherlands, Belgium, Denmark, Greece, Portugal, and Ireland. Although the original motivation was political integration, most of the progress has been economic. Most commonly called European Union. See also European Monetary Union.
|
