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the European Economic Community

🔊/ðə ˌjʊərəpiːən ˌiːkənɒmɪk kəˈmjuːnəti/, 🔊/ðə ˌjʊərəpiːən ˌekənɒmɪk kəˈmjuːnəti/
🔊/ðə ˌjʊrəpiːən ˌiːkənɑːmɪk kəˈmjuːnəti/, 🔊/ðə ˌjʊrəpiːən ˌekənɑːmɪk kəˈmjuːnəti/
(abbreviation the EEC)
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  1. a former organization, started in 1957, to encourage trade within Europe. In Britain it was also known as the Common Market. It became a part of the European Community (now the European Union) in 1967.