Economic Aspects of the European Treaties

The various treaties setting up and then developing the European Union have enormous economic effects, yet are little known. This chapter begins by describing the main features of the Treaty of Rome, the treaty which is the foundation on which the Union rests. This is followed by a section on the Single European Act of 1987, which was concerned with the development of a single market and laid down procedures for removing barriers to trade. There follows a description of the Maastricht Treaty, properly called the Treaty on European Union, Including sections on the social chapter. Other aspects of the EU are also described, including its budget and the chapter concludes with sections on the Amsterdam conference of 1997 and enlarging the EU. (Note that Monetary Union is discussed in Chapter 26.)