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European Coal and Steel Community

In May 1950 French foreign minister Robert Schuman proposed the establishment of a common market for coal and steel for those countries willing to delegate control of these sectors of their economies to an independent authority.

By 1954 the agency had removed nearly all barriers to trade between its members in coal, coke, steel, pig iron, and scrap iron. As a consequence, trade in these commodities rose dramatically in the 1950s. A set of common rules was established to control cartels and to regulate mergers. The central institution, the High Authority, fixed prices and set production limits or quotas and was authorized to impose fines on business firms that infringed treaty rules.

From the 1960s one of the ECSC's main tasks was to supervise its members' reduction of their excess production of coal as that mineral was replaced by petroleum as an industrial fuel. This involved the closing of inefficient or uneconomic coal mines in member countries. Similarly, in the 1970s the ECSC began to supervise the elimination of its members' excess steelmaking capacity when low-cost steel from Japan and other countries put western European steelmakers at a competitive disadvantage.

The Treaty establishing the European Atomic Energy Community (EAEC) also known by the name Euratom

'Sapere aude'

by Oui (Oui) on Fri Jan 13th, 2023 at 03:09:44 PM EST
by Oui (Oui) on Fri Jan 13th, 2023 at 05:40:14 PM EST
[ Parent ]
I've just re-read my diary "Explaining the EU to Outsiders | by Frank Schnittger - Sept. 29, 2014 " and it seems quiet prescient of what has happened since. It warns of Brexit happening through political miscalculation even though it would not be in the UK's interest if it did happen.

Generally speaking, the EU has responded quite well to the many crises since and is probably in a stronger position than ever before, party due to Brexit, the pandemic and the Ukraine invasion demonstrating the need to stick together if we are not going to be very vulnerable to exogenous threats.

Still have a long way to go though to tackle the cost of living and climate change crises, not to mention Ukraine.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Jan 13th, 2023 at 06:53:29 PM EST
[ Parent ]
Also : Transparency and corruption (couldn't happen in the EU's institutions!!) is going to get a look AT LAST...
nice to see old hobby horses getting a trot.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Mon Jan 16th, 2023 at 04:24:55 PM EST
[ Parent ]
Where there is power and money, the presence of dishonesty and corruption is almost a given.

The institutional questions are: are there effective prevention mechanisms to minimise their occurrence
are their audit procedures robust enough to spot irregularities where they occur
when they do occur, is the institutional response to prosecute effectively or to cover-up
the latter, the institution and those who manage it are part of the problem, perhaps even the main part.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Jan 16th, 2023 at 06:53:34 PM EST
[ Parent ]
profit motive per capita is dead.
Habeck wants to redefine the prosperity of Germans, 13 as ECB MULLS another interest rate hike
The picture that emerges from the ministry's data is mixed: after many years of upswing [read: trade surplus], Germany is doing well in the past decade, but prosperity is unequally distributed, economic momentum [read: perpetual "growth"] is low, and the goals for the energy transition are still a long way off .

Greens want to anchor sustainable [read: constant] thinking in economic activity

The annual prosperity report of the Greens was already presented during the opposition period and demands that in addition to material prosperity other factors such as [figurative] ecology, the social Situation® and the level of political participation [read: "politicization"] should be taken into account when assessing economic growth. With the assumption of government, Habeck would like to anchor this idea in everyday political life [read: "political participation"]. The problem, however, is that Germany still lacks sufficient data for a comprehensive picture. For years, German economists have lacked suitable data to draw a complete picture.

archived OECD Better Life Index
by Cat on Fri Jan 13th, 2023 at 10:02:50 PM EST
[ Parent ]


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