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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, as it is now known, now consists of 25 member states and presidency of the organisation changes annually. Britain, Ireland and Denmark joined in 1973, Greece joined in 1981, Spain and Portugal in 1986, Austria, Finland and Sweden in 1995. On 1 May 2004, 10 new states from Eastern and Southern Europe joined the community. The EU is now the world's largest trading bloc by population, with about 455 million citizens.