Jean Monnet in order to revive European construction following the failure of the European Defence Community (EDC). It brought political parties and European trade unions together to become a driving force behind the initiatives which laid the foundation for the European Union as it eventually emerged: first the European Economic Community (EEC) (1958) (known commonly as the "Common Market"), which was established by the Treaty of Rome of 1957; later the European Community (1967) with its corresponding bodies, the European Commission and the European Council of Ministers, British membership in the Community (1973), the European Council (1974), the European Monetary System (1979),
European Economic Community the European Union, though limited in some areas due to the pillar structure. Despite this, Parliament in particular has gained more power over legislation and security of the Commission. The Court was the highest authority in the law, settling legal disputes in the Community, while the Auditors had no power but to investigate. The EEC inherited some of the Institutions of the ECSC in that the Common Assembly and Court of Justice of the ECSC had their authority extended to the EEC and Euratom in the same role. However the EEC, and Euratom, had different executive bodies to the ECSC.