23 July 1952: European Coal and Steel Community is born

Forebear of the European Union, the European Coal and Steel Community came into being in 1952 following the Treaty of Paris.

On 23 July 1952, the Treaty of Paris, which formally established the European Coal and Steel Community (ECSC), came into effect.

The treaty, which was signed by Belgium, France, West Germany, Italy, the Netherlands and Luxembourg, was intended to bring peace and economic prosperity to the continent in the aftermath of the Second World War.

It established a common market for coal and steel, originally proposed by French foreign minister Robert Schuman in 1950. Schuman thought that the joint production of coal and steel would make war "not merely unthinkable, but materially impossible".

With its headquarters in Brussels, the ultimate aim of the ECSC was to create a United States of Europe' governed by supranational institutions. And gradually, the ECSC would indeed morph into the European Union.

In 1957, the Treaty of Rome created the European Economic Community, which broadened the scope of co-operation, and allowed for the free movement of all goods, services and people across borders.

In 1973 came the EEC's first expansion, when Denmark, Ireland and the UK joined. Greece joined in 1981, followed five years later by Spain and Portugal. Austria, Finland and Sweden joined in 1995, and in 2004, eight former Eastern Bloc countries, plus Cyprus and Malta, joined. Bulgaria and Romania became members in 2007, and Croatia in 2013.

The ECSC was finally disbanded in 2002.

Today, the EU's 28 member states have a combined population of 503 million some 7% of the world's population. Its budget in 2014 was €142.6bn. By 2020, that is projected to rise to €167bn.

Recommended

Here’s why you should consider investing in Glencore
Share tips

Here’s why you should consider investing in Glencore

Fifteen years ago, commodity trading giant Glencore was at its lowest ebb. But it has turned its fortunes around, and its future has rarely looked bri…
17 Jun 2022
Why investors should consider adding Glencore to their portfolios
Share tips

Why investors should consider adding Glencore to their portfolios

Commodities giant Glencore is well placed to capitalise on rising commodity prices and supply chain disruption, says Rupert Hargreaves. Here’s why you…
13 May 2022

Most Popular

Rightmove: UK house prices up £3,000 as property market rebounds
House prices

Rightmove: UK house prices up £3,000 as property market rebounds

Rightmove’s latest house price index shows the property market has been resilient despite an economic downturn
20 Mar 2023
Can I avoid IHT by stuffing all my money into a pension?
Personal finance

Can I avoid IHT by stuffing all my money into a pension?

The ditching of the lifetime allowance could enable millions of pension savers to avoid inheritance tax. We explain how.
20 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023