19th Century Economic System

1247 WordsMar 5, 20125 Pages
During the nineteenth century, Europe had a difficult time creating a stable economic system. Through trial and error they created The Common Market, which lead to the creation of The European Atomic Community and The European Coal and Steel Community. These three economic systems make up The European Community. The European Community has given Europe one of the most thriving economies to this day.1 “The United States of Europe” was the first of many attempts at a stable economic system before the creation of The European Community.1 The next experimental economic system was a Council of Europe. Ten delegates, representing the ten countries in Europe, met in Strasbourg France in 1949 with the confidence that it would become a dominant…show more content…
The only institutions that are permitted to perform the tasks entrusted to the European Community are A European Parliament, a Council, a Commission, a Court of Justice and a Court of Auditors.1 In the Parliament members took seats not by nation, but by party affiliation. They had limited legislative authority but they supervised the European Commission and the budget. The Parliament also kept the idea of unity alive. Unity was the main reason that all of these communities were formed in the first place. The final decisions rested with the Council of Ministers representing each of the member countries. Their decisions on very important matters had to be unanimous. Another important aspect of the Community was the Court of Justice, it gave the whole Community a sense of federalism.1 Although the combination of the three communities to make a seemingly unstoppable larger Community sounds perfect, Great Britain initially refrained from joining The Common Market. Great Britain depended on low-priced food imports, had economic ties to the Commonwealth and was unable to accept and supranational authority. Eventually, Great Britain tried to join the European Community after realizing how their economy was significantly lagging behind. Their request was vetoed by President de Gaulle because of
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