European Coal and Steel Community escape from the extreme forms of nationalism (Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany) Treaties of Rome (1957) European Economic Community European Atomic Energy Community came into force in 1958 European Communities 1st July 1967 Single set of institutions for the three communities Enlargement include Denmark (including Greenland, which later left the Community in 1985), Ireland, and the United Kingdom In 1985, the Schengen Agreement - creation of open borders Maastricht Treaty In 1995 Austria, Finland and Sweden In 2004 Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia In 2007 Romania and Bulgaria On 1st December 2009 Lisbon Treaty - changed the legal structure of the European Union Structural disparity The euro zone is not an optimal currency area The capital began to flow into the economy which, although offer higher interest profit, but only at the cost of higher risk
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