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The origin of European union goes backto the European coal and
steelcommunity (ECSC) which was formedwith west germany, france and
italy,belgium in1952.
The aim of ECSC was to eliminate importduties and quotas on
coal, iron, steel
regarding international trade among themember countries.
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European economic community is alsoknown as european market
originally 6
countries. France, federal republic of Germany,
Italy, Belgium, Netherlands and
Luxemburg, it formed into the Europeancommunity (EEC) in 1957 at
Rome.
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Elimination of customs duty, quantitativerestrictions with
regards to exports andimports of goods among membercountries.
Establishment/formulation of commoncustoms and tariff and
commoncommercial policy with regard to non-
member countries. Abolition of all obstacles for movement
of persons, services and capital amongmember countries.
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formulation of common policy in area ofagriculture.
formulation of common policy in area oftransport.
Establishment of the systems which wouldensure competition among
member
programmers'. Application of programme in order to co-
ordinate economic policies of the membercountries.
Establishment of European investment bankfor mobilization of
fresh resources and tocontribute to the economic developmentof the
community.
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board
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common agriculture policy greenrate.For each country and the
supportprice converted into the national priceat the green
rate.
Common fisheries policy
EU monetary unionstarted in march1979 features are,
Exchange rate mechanism (ERM) European currency unit
European monetary currency unit
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Factor mobility
Regional development policy
European investment bank
European social fund
European regional development fund
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EURO CURRENCY: from1 jan,2001 Participants: 12 member
countries
Non-participants: denmark,sweden andUK are members of EU.
European system of central bank:
1 jan 1998
Deciding and i9mplementing monetary
policy Conducting and monitering policy
Operating trade systems
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Introducing the Europe in respectingcountries.
Managing the change over fromnational currencies from Europe
Withdrawing national currency
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Powers of EU
Division of responsibilities
Qualified majority voting President
Foreign ministers
European parliament
Fundemental rights
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Member ountries are,
USA
CANADA MEXICO
