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CHINA DRIVES PINOYS AWAY FROM ITS “EEZ” IN CHICAGO!

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The United States on March 24 congratulated the European Union on the sixtieth anniversary of the 1957 Treaties of Rome, which


founded the European Economic Community.

 

It says, “Our two continents share the same values and, above all, the same commitment to promote peace and prosperity through freedom, democracy, and the rule of law. “Together we look forward to another sixty years and more of shared security and shared prosperity.”

The European Economic Community (EEC) was a regional organisation, which aimed to bring about economic integration among its member states. It was created by the Treaty of Rome of 1957. Upon the formation of the European Union (EU) in 1993, the EEC was incorporated and renamed as the European Community (EC). In 2009 the EC's institutions were absorbed into the EU's wider framework and the community ceased to exist.

The Community's initial aim was to bring about economic integration, including a common market and customs union, among its six founding members: Belgium, France, Italy, Luxembourg, the Netherlands and West Germany. It gained a common set of institutions along with the European Coal and Steel Community (ECSC) and the European Atomic Energy Community (EURATOM) as one of the European Communities under the 1965 Merger Treaty (Treaty of Brussels).

THE EUROPEAN UNION IN THE EUROPEAN CONTINENT


 In 1993, a complete single market was achieved, known as the internal market, which allowed for the free movement of goods, capital, services, and people within the EEC. In 1994, the internal market was formalised by the EEA agreement. This agreement also extended the internal market to include most of the member states of the European Free Trade Association, forming the European Economic Area covering 15 countries.

Upon the entry into force of the Maastricht Treaty in 1993, the EEC was renamed the European Community to reflect that it covered a wider range than economic policy. This was also when the three European Communities, including the EC, were collectively made to constitute the first of the three pillars of the European Union, which the treaty also founded. The EC existed in this form until it was abolished by the 2009 Treaty of Lisbon, which incorporated the EC's institutions into the EU's wider framework and provided that the EU would "replace and succeed the European Community".

The EEC was also known as the Common Market in the English-speaking countries and sometimes referred to as the European Community even before it was officially renamed as such in 1993.

“BREXIT” LEAVES EU

On June 23, 2016, the United Kingdom voted in a referendum to secede from the European Union, called “Brexit,” abbreviation for “British exit.” The vote’s result surprised pollsters and roiled global markets, causing the British pound to fall to its lowest level against the dollar in 30 years. Prime Minister David Cameron, who called the referendum and campaigned for Britain to remain in the EU, resigned on July 13. Home Secretary Theresa May, who had replaced Cameron as leader of the Conservative party a couple of days earlier, succeeded him as Prime Minister.

"Leave" won the referendum with 51.9% of the ballot, or 17.4 million votes; "Remain" received 48.1%, or 16.1 million. Turnout was 72.2%. The results were tallied across the UK, but the overall result conceals stark regional differences: 53.4% of English voters supported Brexit, compared to just 38.0% of Scottish voters. Because England accounts for the vast majority of the UK's population, support there swayed the result in Brexit's favor. If the vote had only been conducted in Wales (where "Leave" also won), Scotland and Northern Ireland, Brexit would have received just 43.6% of the vote. (PM)

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