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Simple English definitions for legal terms
European Economic Community
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A quick definition of European Economic Community:
The European Economic Community, also known as the European Union, is a group of countries in Europe that work together to make it easier for people, money, and goods to move between them. They want to become even more united in the future, both economically and politically. The European Union was created in 1957 and was originally called the European Economic Community. It changed its name to the European Union in 1993.
A more thorough explanation:
The European Economic Community (EEC) was an association of European nations whose purpose was to achieve full economic unity (and eventual political union) by agreeing to eliminate barriers to the free movement of capital, goods, and labor among the member-nations.
The European Union (EU) is the successor to the EEC. It is an association of European nations that aims to promote economic and political cooperation among its member states. The EU was formed as the European Economic Community by the Treaty of Rome in 1957, and later renamed the European Community (EC). The European Community became the European Union when the Maastricht Treaty on European Union took effect in November 1993.
One example of the European Union's efforts to eliminate barriers to the free movement of goods is the creation of a single market. This means that goods can be sold and transported freely between member states without being subject to tariffs or other trade barriers. For example, a car made in Germany can be sold in France without any additional taxes or fees.
Another example is the EU's policy of free movement of people. This means that citizens of member states can live and work in any other member state without needing a visa or work permit. For example, a Spanish citizen can move to the UK to work without needing to apply for a visa or work permit.
These examples illustrate how the European Union is working towards achieving full economic unity and eliminating barriers to trade and movement within its member states.