ABSTRACT

Economic integration has been the most concrete and visible achievement of the European Union since the signature of the Rome Treaty in 1957. This chapter provides an overview of Europe's major achievements in terms of economic integration, since the signature of the Rome Treaty by the six founding members of the then Common Market, i.e. by Belgium, France, Germany, Italy, Luxembourg and the Netherlands. It highlights first these achievements within the process of economic integration in an historical perspective. The chapter also provides an insight into the evolving theoretical foundations underpinning economic integration in Europe. Most of the work done on economic integration in Europe has nevertheless dealt with the process of economic integration, taking shape through the elaboration and fine-tuning of the various policies. Much of the early discussion on economic integration in Europe has focused on trade impediments, and on the way to remove same.