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The origin of European union goes backto the European coal and steelcommunity (ECSC) which was formedwith west germany, france and italy,belgium in1952.
The aim of ECSC was to eliminate importduties and quotas on coal, iron, steel
regarding international trade among themember countries.
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European economic community is alsoknown as european market originally 6
countries. France, federal republic of Germany,
Italy, Belgium, Netherlands and
Luxemburg, it formed into the Europeancommunity (EEC) in 1957 at Rome.
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Elimination of customs duty, quantitativerestrictions with regards to exports andimports of goods among membercountries.
Establishment/formulation of commoncustoms and tariff and commoncommercial policy with regard to non-
member countries. Abolition of all obstacles for movement
of persons, services and capital amongmember countries.
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formulation of common policy in area ofagriculture.
formulation of common policy in area oftransport.
Establishment of the systems which wouldensure competition among member
programmers'. Application of programme in order to co-
ordinate economic policies of the membercountries.
Establishment of European investment bankfor mobilization of fresh resources and tocontribute to the economic developmentof the community.
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board
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common agriculture policy greenrate.For each country and the supportprice converted into the national priceat the green rate.
Common fisheries policy
EU monetary unionstarted in march1979 features are,
Exchange rate mechanism (ERM) European currency unit
European monetary currency unit
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Factor mobility
Regional development policy
European investment bank
European social fund
European regional development fund
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EURO CURRENCY: from1 jan,2001 Participants: 12 member countries
Non-participants: denmark,sweden andUK are members of EU.
European system of central bank:
1 jan 1998
Deciding and i9mplementing monetary
policy Conducting and monitering policy
Operating trade systems
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Introducing the Europe in respectingcountries.
Managing the change over fromnational currencies from Europe
Withdrawing national currency
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Powers of EU
Division of responsibilities
Qualified majority voting President
Foreign ministers
European parliament
Fundemental rights
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Member ountries are,
USA
CANADA MEXICO