European Economic Community European Economic Community The European Economic Community (EEC) was a regional organisation which aimed to bring about economic integration among its member states. It was created by the Treaty of Rome of 1957. Upon the formation of the European Union (EU) in 1993, the EEC was incorporated and renamed as the European Community (EC). In 2009 the EC's institutions were absorbed into the EU's wider framework and the community ceased to exist. The Community's initial aim was to bring about economic integration, including a common market and customs union, among its six founding members: Belgium, France, Italy, Luxembourg, the Netherlands
European Economic Community compromise was reached with the Luxembourg compromise on 29 January 1966 whereby a gentlemen's agreement permitted members to use a veto on areas of national interest. On 1 July 1967 when the Merger Treaty came into operation, combining the institutions of the ECSC and Euratom into that of the EEC, they already shared a Parliamentary Assembly and Courts. Collectively they were known as the "European Communities". The Communities still had independent personalities although were increasingly integrated. Future treaties granted the community new powers beyond simple economic matters which had achieved a high level of integration. As it got closer to