European Community (EC)

Search Dictionary

Definition of 'European Community (EC)'

The European Community (EC) was an economic and political union of 28 member states that existed from 1957 to 2009. It was succeeded by the European Union (EU) on 1 January 2009.

The EC was established by the Treaty of Rome in 1957. The original six member states were Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. The EC grew to 28 member states by 2009, when it was dissolved and replaced by the EU.

The EC was a supranational organization, meaning that it had powers that were superior to those of its member states. The EC had its own institutions, including the European Commission, the European Parliament, and the European Court of Justice.

The EC was responsible for a wide range of policies, including the common market, the customs union, the single currency, and the common agricultural policy. The EC also played a role in foreign policy and security.

The EC was a successful economic and political union. It helped to promote peace and prosperity in Europe. The EC also played a role in the development of the European Union.

The European Community was dissolved on 1 January 2009 and replaced by the European Union. The EU is a more ambitious and comprehensive union than the EC. The EU has a wider range of policies and powers than the EC. The EU also has a stronger institutional framework than the EC.

The European Union is a major player in the global economy. The EU is the world's largest trading bloc and the world's second largest economy. The EU is also a major player in international politics and security.

The European Union is a complex and evolving organization. The EU is still in the process of developing its identity and its role in the world. The EU is a work in progress, but it is a work that is worth watching.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.