Final answer:
The European Economic Community (EEC) was established in 1957 to promote economic integration and peace in post-World War II Europe. It grew from the ECSC's model, expanding trade liberalization beyond coal and steel, and faced some opposition but ultimately led to the European Union, which includes the euro as a common currency.
Step-by-step explanation:
The European Economic Community (EEC) was established in 1957, following the successful model of economic cooperation seen in the European Coal and Steel Community (ECSC) which was initiated in 1951. The formation of the EEC marked a significant step towards economic integration among European nations, aiming to ensure peace and prevent human rights atrocities post World War II by removing trade and investment restrictions across its member states.
The EEC expanded its scope far beyond coal and steel, encompassing a wider range of economic activities and establishing a common market. Despite occasional resistance, such as protests from farmers fearing economic losses due to open national markets, the EEC remained largely successful and continued to grow.
This growth eventually led to the creation of the European Union, a full economic union that included the adoption of a single currency, the euro, and aimed to eliminate barriers to the mobility of goods, labor, and capital. The EEC, and later the EU, represented steps towards closer economic ties in hopes of avoiding conflict and fostering stability in Europe.