• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

History of the EU.

Extracts from this document...

Introduction

History of the EU The origins of European integration date back to the end of World War II. The war had left Europe in ruins and prompted the search for a lasting peace and, in particular, the need to bring about lasting reconciliation between France and Germany. One of the first initiatives was the European Coal and Steel Community (ECSC) established by the Treaty of Paris in 1951. On 9 May 1950 Robert Schuman, the French Foreign Minister, proposed that French and German coal and steel production should be 'pooled'. Belgium, Italy, Luxembourg and the Netherlands joined France and Germany in setting up the ECSC and merging national interests in these industries. In 1957 the six members of the ECSC formed the European Economic Community (EEC) and began the process of developing a common market for goods and services. The Treaties of Rome, signed in March 1957, created the EEC and the European Atomic Energy Community. The Common Agricultural Policy to support farmers was established. Since 1957, the EEC has seen four stages of enlargement, and now brings together 15 countries in what is known as the European Union (EU). ...read more.

Middle

In February 2002, the euro became the sole currency of 12 out of 15 EU countries. The three countries remaining outside the euro zone are Denmark, Sweden and the UK. History of the euro The development of a European single currency goes back to the 1950s. 1957: The Treaty of Rome said a common European market could increase economic prosperity and help towards promoting closer ties among the people of Europe 1969: European summit at the Hague makes a single currency an official objective 1970: The Werner report envisages the creation of a single currency over 10 years 1970s: The oil crises, economic divergence and a weak dollar meant only a "currency snake", tying the currencies of Germany, Denmark and the Benelux countries together, was achieved 1979: The European Monetary System (EMS) is created, with the exchange rate mechanism (ERM) defining rates in relation to the European Currency Unit (ECU), a quasi-currency representing an average of participating currencies. 1986: Single European Act The Single European Act, which modifies the Treaty of Rome is signed and comes into force the following year. ...read more.

Conclusion

1999: Stage three of EMU: The euro is launched as an electronic currency used by banks, foreign exchange dealers, big firms and stock markets. Exchange rates of the participating currencies are set and euro zone countries begin implementing a common monetary policy. 2000: A referendum in Denmark ends with 53% of Danish voters rejecting entry to the euro. 2001: Greece joins the euro. The UK's Labor government, re-elected for a second term, says it will assess its five tests for euro entry within two years. 2002: Euro coins and notes become legal tender and national currencies become obsolete. Sweden announces plans to hold a referendum on euro entry on 14 September 2003. 2003: The UK Government says it has decided the time is not right to recommend euro entry in a referendum. Chancellor Gordon Brown says he will return to the issue again early in 2004. The EU's Aims The Eu was set up to allow all European countries to trade easily (free trade) because before the Eu was set up all European countries had to pay fees whenever they traded with each other these where known as trade barriers. They also aim to bring countries closer together. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level European Union section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level European Union essays

  1. A clear explanation of key underpinning economic theories relevant to the EU.

    Boots benefits of this as it has now access to a variety of candidates with many different attributes. As a result Boots will have a quality workforce who can provide a high level of customer service. This will allow new customers to be attracted and Boots even increasing in size benefiting from economies of scale.

  2. Why did Britain join the EEC in 1973 and not in 1957?

    It was difficult to 'downplay' the CAP negotiations because Wilson had said on TV that Britain's entry would have to be on the right terms, especially concerning the agriculture. He had been so determined because if Britain joined with the agricultural terms the EEC applied then Britain would have to

  1. The Institution of the European Union and Theories.

    is a Hungarian firm and Boots benefits of this as wages costs are lower in Hungary and costs as of this remain low. This is an advantage for Boots. Threats There are threats as well as opportunities and these threats are, *New and aggressive competition for Boots as foreign firms

  2. Transformation of the U.S. Hegemony in Europe through NATO after the Cold War

    The issues that were highlighted in the treaty were mainly to develop common strategies, to increase the decision-making procedures, to regulate a High Representative for the CFSP, to implement a functioning policy planning capability and early warning unit, to incorporate the "Petersberg Tasks" into the EU Treaty and to create resources in order to finance CFSP spending18.

  1. In 1957 the Common

    U will put tariffs on goods imported into the E.U. this has caused a trading War between Europe and the U.S.A. On the onset the Common Agricultural policy was seen to be a competition between the two industrial leaders of the E.U, France and Germany, France whose agricultural sector accounted

  2. The Euro

    In December 1995, the European Heads of State or Government at the European Council meeting in Madrid voted on the name "Euro" for the single currency of the European Monetary Union. * Stage three began on January 1, 1999 with the establishment of "Irrevocably Fixed Exchange Rates" of the currencies of the current 11 member states.

  1. Regulation 2560/2001 on cross-border payments in Europe.

    Contrary to TARGET and TIPANET, all transactions are settled through one bank, Postgirot Bank of Sweden. Therefore, Eurogiro reaches a high degree of automation ('straight through processing'). Although the larger part of transactions that Eurogiro handles are low-value, the system can also be used for large-value transactions.

  2. Sustainable development or fish eat fish world? 'EU external trade policy'.

    in 1975).7 After the political stagnation during the 70's and early 80's, a political willingness to achieve greater European integration surfaced around the mid 80's.8 In 1985, the Council requested the Commission for a programme on the achievement of the single market by the end of 1992.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work