-
IMF and World Bank Established
IMF - Meant to stabilize world currencies (USSR excluded from IMF); World Bank - Creditor to all nations -
GATT
General Agreement on Tariffs and Trade - Against tariffs; US tries to establish world free trade;
Results in regional protectionism -
Marshall Plan initiated
Financial aid meant to be put towards the reconstruction of Europe and to prevent communism from spreading -
OEEC formed
Formed to help administer the Marshall Plan in Europe -
Schuman Plan
Meant to create a common market for coal and steel; France, Italy, W Germany, Benelux, and UK; precursor for the ECSC -
European Coal and Steel Community Formed
France, Italy, W Germany, and Benelux (No UK) -
European Economic Community
Treaty of Rome forms EEC; also called Common Market; a pre-cursor to the EU France, West Germany, Italy, Benelux countries The EEC contested with the EFTA -
Euratom
Meant to develop nuclear energy -
Period: to
European Economic Community
-
European Free Trade Association
Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the United Kingdom (The Outer 7) sign to abolish tariffs -
Period: to
EFTA
UK and Denmark leave in 1973;
Portugal leaves in 1986;
Austria, Sweden, and Finland leave in 1995;
Only Switzerland and Norway of the founding members remain -
UK applies for EEC; rejected by De Gaulle
UK + US too close, according to De Gaulle -
EEC becomes EC
Closer cooperation in political and international matters; had permanent structures: Council of Ministers
European Parliament
European Commission
Court of Justice -
Period: to
European Community
-
UK, Denmark, and Ireland accepted into EC
-
EFTA and EC negotiate free trade agreement
-
Greece joins EC
-
Spain joins EC
-
Portugal joins EC
-
Single European Act signed
Dealt with foreign policy cooperation and worked towards a single market -
Period: to
European Union
-
World Trade Organization replaces GATT
Dealt with more issues than GATT; dominated by developed countries
