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EU Economic Integration - Coggle Diagram
EU Economic Integration
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Key Dates
1973 – The UK, Denmark and Ireland join the European Community
1979 – The European Monetary System (EMS) is established. A step towards a common currency in which member states (not including the UK) agreed to maintain the value of national currencies against a notional European Currency Unit (ECU).
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1985 – The Single European Act moves towards the completion of a Common Market. The Schengen Agreement abolishes passport controls and opens borders between France, Germany, Belgium, the Netherlands and Luxemburg. Other European countries have since joined the Schengen group – though not the UK.
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1991 – The Treaty of Maastricht. The EC becomes the European Union (EU). The Treaty sets out a timetable towards monetary union. European citizens gain freedoms to live and work throughout the EU.
1995 – Austria, Finland and Sweden join the EU.
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