п»їBefore the First World War generally there had been several attempts to abolish trade barriers between European countries, though the main concentrate at this time was individual nationwide development. Following WW1 and throughout the inter-war period, nations around the world attempted to restore their financial systems though a substantial increase in protectionism, which ended in a huge embrace unemployment, and led to the truly amazing Depression. Following Second World War the European Financial systems were centered on rebuilding both their cultural and economical state after becoming desolate and indigent as a result of the war and their previous protectionism stance. This forced the European market leaders to interact in order to inspire international transact and move greater co-operation between their very own nations. There was three main factors which in turn encouraged the drive to greater Western european Integration. They were: The desire pertaining to lasting peacefulness.
The emergence of the financial superpowers with the US and Japan. The emergence from the political superpowers of the ALL OF US and USSR. The European co-operation was supported by, and led to the creation of, organisations including: Organisation to get European Economic Co-operation (OEEC) 1948 - Succeeded by Organisation intended for Economic Co-operation and Expansion (OECD) The International Bank for reconstruction and Creation (World Bank) 1944 The International Economic Fund (IMF) 1947
The Benelux Union 1947
General; Agreement in Tariffs and Trade (GATT) 1948 вЂ“ Succeeded by WTO North Atlantic Treaty Organisation (NATO) 1949
The Council of Europe 1949
Another massively important going stone towards greater Euro co-operation was your Marshall Prepare, named after George Marshall, US Secretary of State. Also called as the Euro Recovery System, it was started to provide economical assistance in order to help improve countries remaining devastated and disintegrated following WW2. There are two main reasons the US was willing to give financial assistance towards the...