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The origin of European union goes back to the European coal and steel community (ECSC) which was

formed with west germany, france and italy, belgium in1952. The aim of ECSC was to eliminate import duties and quotas on coal, iron, steel regarding international trade among the member countries.

European economic community is also known as european market originally 6 countries. France, federal republic of Germany, Italy, Belgium, Netherlands and Luxemburg, it formed into the European community (EEC) in 1957 at Rome.

Elimination of customs duty, quantitative restrictions with regards to exports and imports of goods among member countries. Establishment/formulation of common customs and tariff and common commercial policy with regard to nonmember countries. Abolition of all obstacles for movement of persons, services and capital among member countries.

formulation of common policy in area of agriculture. formulation of common policy in area of transport. Establishment of the systems which would ensure competition among member programmers'. Application of programme in order to coordinate economic policies of the member countries. Establishment of European investment bank for mobilization of fresh resources and to contribute to the economic development of the community.

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common agriculture policy green rate.For each country and the support price converted into the national price at the green rate. Common fisheries policy EU monetary union started in march 1979 features are, Exchange rate mechanism (ERM) European currency unit European monetary currency unit

Factor mobility Regional development policy European investment bank European social fund European regional development fund

EURO CURRENCY: from1 jan,2001 Participants: 12 member countries Non-participants: denmark,sweden and UK are members of EU. European system of central bank: 1 jan 1998 Deciding and i9mplementing monetary policy Conducting and monitering policy Operating trade systems

Introducing the Europe in respecting countries. Managing the change over from national currencies from Europe Withdrawing national currency

Powers of EU Division of responsibilities Qualified majority voting President Foreign ministers European parliament Fundemental rights

Member ountries are, USA CANADA MEXICO

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