2. During the Cold War….
In addition to most Western
European nations joining
NATO, the European
Economic Community (EEC)
was formed to create a period
of economic growth in
democratic European
countries.
Lowered trade restrictions and
increased trade opportunities.
3. Getting rid of tariffs
The main goal was to
create a “single
market” across
Europe and eliminate
tariffs. (taxes)
4. The EU
The EEC was replaced by the European Union
(EU) in 1993
Had the same basic goal of economic cooperation,
but which worked to bring the countries even
closer together.
Created the Euro (common money for Europe).
5. Expanding the idea….
When communism fell, some Eastern
European countries joined.
It expanded from an economic idea to political
concepts like laws too.
6. NAFTA
The countries of North
America liked this concept.
In 1994, the North
American Free Trade
Agreement was created,
allowing America, Mexico,
and Canada to trade freely.
It is the largest area of free
trade in the world.
