From Economic Community to Union

1956 - Treaty of Rome

new members

• 1973: UK, Ireland, Denmark
• early 1980s: Greece, Spain, Portugal
• 1995: Austria, Sweden, Finland ( + Schengen agreement)
• 2004: ten new countries
• 2007: Bulgaria, Romania
• 2013: Croatia
• 2017-20: Brexit

typology of economic integration

• Free Trade Area
  • no tariffs or quotas on intra FTA trade. FTA members determine their national policies with respect to nonmembers
• Customs Union
  • FTA + common trade policies toward nonmembers.  CU members determine the common trade policy and share tariff revenue
• Common Market
  • free intra-CM access in goods, services, capital, and labor. Typically involves a combination of negative and positive integration (thou shalt not; thou shalt), which determines the extent to which access is free in practice
• Single Market
  • A CM characterized by general intolerance of exceptions to market access obligations (incl. poor implementation and indirect barriers)

Supranational institutions

• Coal-Steel / industry
• Euratom
• Government
  • Counsel
  • Parliaments
  • Courts

moving goods
moving people

Challenges

• agriculture
• defense
• currency

Prosperity & Welfare