ate the European Atomic Energy Community (Euratom),
the European Coal and Steel Community (ESC), the European Economic
Community (EEC or Common Market), and to establish a completely
integrated common market and an eventual federation of Europe; merged
into the European Union (EU) on 7 February 1992; member states at the
time of merger were Belgium, Denmark, France, Germany, Greece, Ireland,
Italy, Luxembourg, Netherlands, Portugal, Spain, UK

European Free Trade Association (EFTA): established - 4 January 1960;
effective - 3 May 1960

aim - to promote expansion of free trade

members - (4) Iceland, Liechtenstein, Norway, Switzerland

European Investment Bank (EIB): established - 25 March 1957; effective
- 1 January 1958

aim - to promote economic development of the EU and its predecessors,
the EEC and the EC

members - (15) Austria, Belgium, Denmark, Finland, France, Germany,
Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain,
Sweden, UK

European Monetary Union (EMU): note - an integral part of the European
Union; also known as the European Economic and Monetary Union

proposed - 1-2 December 1969 at summit conference of heads of
government; signed - 7 February 1992 - Maastricht Treaty

aim - to promote a single market by creating a single currency, the
euro; time table - 2 May 1998: European exchange rates fixed for 1
January 1999; 1 January 1999: all banks and stock exchanges begin using
euros; 1 January 2002: the euro goes into circulation; 1 July 2002
local currencies no longer accepted

members - (12) Austria, Belgium, Finland, France, Germany, Greece,
Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain; note -
Denmark, Sweden, and UK decided not to join

European Organization for Nuclear Research (CERN): note - acronym
retained from the predecessor organization Conseil Europeenne pour la
Recherche Nucleaire

established - 1 July 1953; effective - 29 September 1954

aim - to foster nuclear research for peaceful purposes only

members - (20) Austria, Belgium, Bulgaria, Czech Republic, Denmark,
Finland, France, Germany, Greece, Hungary, Italy, Netherlands, Norway,
Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, UK

observers - (7) European Commission, Israel, Japan, Russia, Turkey,
United Nations Educational, Scientific, and Cultural Organization
(UNESCO), US

European Space Agency (ESA): established - 31 May 1975

aim - to promote peaceful cooperation in space