Glossary of European Union concepts, acronyms, & jargon conference entrusted Paul-Henri Spaak with the creation of a report that eventually led to the creation of 1957 Treaty of Rome. Oversees Countries and Territories (OCT), beneficiaries of the European Development Fund (EDF). An EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The Treaty of Rome established the European Communities (EC), comprising the European Economic Community (EEC), the European Atomic Energy Community (EAEC) and the European Coal and Steel Community (ECSC), and was signed in Rome on 25 March
European Political Community project entailed an unacceptable loss of national sovereignty. As a result, the European Political Community idea had to be abandoned. Following the collapse of the EPC, European leaders met in the Messina Conference in 1955 and established the Spaak Committee which would pave the way for the creation of the European Economic Community (EEC). European Political Community The European Political Community (EPC) was proposed in 1952 as a combination of the existing European Coal and Steel Community (ECSC) and the proposed European Defence Community (EDC). A draft EPC treaty, as drawn up by the ECSC assembly (now the European Parliament),