The European Union Some slides taken for Europa: Gateway to the European Union THE EUROPEAN UNION.
A Unified Europe A Brief History of the European Union and the European Economic Community.
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Transcript of A Unified Europe A Brief History of the European Union and the European Economic Community.
![Page 1: A Unified Europe A Brief History of the European Union and the European Economic Community.](https://reader035.fdocuments.in/reader035/viewer/2022062620/551b9c80550346942b8b55b9/html5/thumbnails/1.jpg)
A Unified Europe
A Brief History of the European Union and the European Economic Community
![Page 2: A Unified Europe A Brief History of the European Union and the European Economic Community.](https://reader035.fdocuments.in/reader035/viewer/2022062620/551b9c80550346942b8b55b9/html5/thumbnails/2.jpg)
Origins
• The Marshall plan distributed billions of dollars in aid to European nations. The organization responsible for dispensing that aid was the Office of European Economic Cooperation.
• This office facilitated coordinated multi-national (across Europe’s boundaries) of economic goals and policies.
• “We have questions of common economic concern”.
• Council of Europe—began to urge a federation of European states.
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European coal and steel community
• First step in removing all barriers of cooperation amongst European states.
• Formed with the Netherlands, Belgium, Luxembourg, France, Italy, and West Germany
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European economic community
• The goal was to integrate markets.
• It would eventually be known as the common market.
• Free movement of labor and capital across borders.
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Great Britain
• Long resisted joining the common market and frowned upon being tied to any joint economic effort.
• That changed in 1973 when they joined the common market and began to push for a set of common economic policies between nations.
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Soaring prosperity
• The 1970’s brought soaring prosperity to western Europe—but there were black clouds…oil consumption.
• This prompted more unity amongst Europe’s nations.
• The goal of a United States of Europe appeared more realistic.
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Single European act
• 1985: Goal to eliminate barriers and to create a huge market amongst the member states.
• Eliminate needs for passports and tariffs.
• Now up to 12 nations
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Maastricht
• Meeting in Maastricht, Netherlands the heads of the 12 EC countries ratified a momentous treaty.
• Agreed to a common currency (Euro)
• Established a single banking system
• Established a political union (European Union)
• “One currency, one culture, one social area, one environment”. Francois Mitterand
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The Euro
• 12/15 states joined interconnecting the economies of Europe.
• Gone were the days of the deutsch, drachma, and guilder…welcome Euro
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EUrope
• By 2007, the EU had included former communist territories bringing the total to 27.
• Many larger nations, particularly the economic powers like Germany were anxious about the future and fearing what these economies would do to their own.
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Trouble ahead?
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Greek debt crisis illustrates perils of unity