The Increased Economic Integration of European Economic Community

41, 45). Prior to the creation of the atomic number 63 and EURATOM, the European Coal and Steel union (ECSC) had been created by a treaty signed in Paris in 1951 (p. 43). The ECSC was comprised of the same(p) six member countries which formed the atomic number 63 and EURATOM, and became a structural reality on 10 August 1952 (p. 43).

Until 1 July 1967, separately of the three communitiesthe EEC, EURATOM, and ECSCfunctioned as separate entities, although there were some universal institutions. On 1 July 1967, however, the executives of the three communities were merged into a single commission, and the goals and objectives of the three communities ar pursued in a interconnected and cohesive manner (Paxton, 1988, p. 42).

The longterm goals of the communities are (1) the integrating of the economies of the member countries, and (2) semipolitical unity. Pursuit of economic integration has been

some(prenominal) much rapid and more successful than has the pursuit of political unity, although economic integration has also been beset with significant problems. The specialised objectives of the three communities are as follows:

1. EURATOM: (a) supplement and coordinate the thermonuclear research conducted by member countries; (b) pool scientific data; (c) promote the training of scientists and technicians; and (d) the establishment of a common market for nuclear materials and equipment (Paxton, 1988, p. 45).

Padoa Schioppa, T. (1985). Policy cooperation and the EMS experience. In International economic policy coordination. W. Buiter & R. Marston (Eds.). Cambridge, England: Cambridge University Press.

The activities of the EMS were also successful in reducing the rate of swelling in the ERM countries, "if not faster than in Britain, the with less unembellished cost in terms of lost output" (Artis, 1987, p. 34). Additionally, the EMS actions are credited with stimulating growth in the ERM countries (p. 35).

David, DH. (1985). advantage of the European Monetary System. World of Banking, IV(1), 1824.

Common Community responses to international political crises, defense, and other matters are also imagine by the Single Act.

This part of the act causes Britain to worry closely its independent freedom of action, and Ireland to worry about its constitutional neutrality. To rent unanimous assent from the 12 member countries, a clause was inserted into the Act which enabled member countries to opt out of an action, if they felt it was perverting to their national interest. The Single Act, however, also changes voting to (1) a comparative system based both on population, and financial partage to the EEC, from an equal vote for all members, and (2) a 56 percent majority vote, from a unanimous vote. Thus, the EEC, which has in the past been truly tight in its agreement for a member to opt out, may be able to even more effectively restrict such actions subsequent to 1992.

Should all go as planned, all of the economic barriers which continue to separate the member countries of the EEC will disappear on 1 January 1992 (Tully, 1988, p. 81). The advent of more complete economic integration in the EEC is mean to bring about the free movement of goods, services, capital, and labor in spite of appearance the Community, and provide more than 320 million Europeans with free commerce analogous to interstate commerce enjoyed in the United States (Doyle,
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