European Economic Community (EEC)

Now incorporated in the European Union (EU).

Similar financial terms

European Central Bank (ECB)
The Central Bank for the new European Monetary Union.

European Union (EU)
The European Union (EU) is a union of twenty-five independent states based on the European Communities and founded to enhance political, economic and social co-operation. The union was formerly known as the European Community (EC) and European Economic Community (EEC).

The common currency in the EU is the euro (EUR. Still, some countries have chosen to stay outside the European Monetary Union.

At the moment, the 25 member states are:
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Did you know?

Vertical Integration

The acquisition by a company operating in one market, of another company that is complementary to its existing business, perhaps as a supplier or user of product, for example a newspaper publishing company acquiring a paper manufacturer. See Vertical merger.


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