Definition

 After its founding in 1957, the EEC was often called simply "The Common Market." Actually a common market was not immediately created, but was established as a goal (which has since been largely realized). The treaty called for a sequence of steps to more closely coordinate the six states' (in the EEC) economies over time. Creating a free-trade area in Europe meant that tariffs and restrictions on the movement of goods across borders were lifted. The European Free Trade Association (EFTA) is an extended free trade area associated with the EU. Its members are Norway, Iceland, Liechtenstein, and Switzerland.

Links

Economic Policies and Programs - Provides a summary of the EU's economic and monetary policies

European Monetary System - Text summary of the EU monetary system

European Currency Unit (ECU) - Includes table of contents with several links on ECU issues

Common Agricultural Policy - Text summary of EU Common Agricultural Policy