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European Economic Community. The European Economic Community (1957-2009) was an intergovernmental organization in Europe. In 1967 the institutions of the European Coal and Steel Community and Euratom were merged with those of the Economic Community. This meant that while they technically continued to exist separate from each other they were governed together as a single personality under the name of the European Communities.
DEFINITION of 'European Community-EC'. The European Community is one of the three pillars of the European Union (EU).The pillars represent the three different areas of cooperation within the union. The European Community is the first pillar and represents supranational cooperation.The policies within this area allow the EU to issue legislation that directly binds its citizens.he pillars represent the three different areas of cooperation within the union. The European Community is the first pillar and represents supranational cooperation. The policies within this area allow the EU to issue legislation that directly binds its citizens.