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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.
The European Union (EU) is a politico-economic union of 28 member states that are located primarily in Europe. The EU operates through a system of supranational institutions and intergovernmental-negotiated decisions by the member states.he institutions are: the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, the European Central Bank, the European Court of Auditors, and the European Parliament. The European Parliament is elected every five years by EU citizens.