France–Germany relations side deals; it created a customs union and established the rules needed to make the competition mechanism work properly. As a sequence of this, booming European economies, fired by Germany, led to the formation of the new customs union known as the European Economic Community (EEC). But it did not go well as the organization of Europe, because only the members of the coal and steel community 'ECSC' (" the six": Belgium, France, Italy, Luxembourg, the Netherlands and West Germany) joined the EEC. Seven of the remaining nations belonging to the Organization of European Economic Cooperation (OEEC) which administered the
History of Germany to a swing to the right. Field Marshal Paul von Hindenburg was elected President in 1925. In October 1925 the Treaty of Locarno was signed by Germany, France, Belgium, Britain and Italy; it recognised Germany's borders with France and Belgium. Moreover, Britain, Italy and Belgium undertook to assist France in the case that German troops marched into the demilitarised Rheinland. Locarno paved the way for Germany's admission to the League of Nations in 1926. The actual amount of reparations that Germany was obliged to pay out was not the 132 billion marks decided in the London Schedule of 1921 but