WORLD HISTORY

Detailed explanation-1: -1950 can be regarded as the starting point for European integration. At that time, the choice of coal and steel was highly symbolic: in the early 1950s coal and steel were vital industries, the basis of a country’s power.

Detailed explanation-2: -EIB was created in 1958 under the Treaty of Rome as an autonomous body within the European Union to finance capital investment furthering European integration by promoting E.U. economic policies.

Detailed explanation-3: -The Schuman Declaration was presented by French foreign minister Robert Schuman on 9 May 1950. It proposed the creation of a European Coal and Steel Community, whose members would pool coal and steel production.

Detailed explanation-4: -The European Coal and Steel Community, founded in 1951, is the first step in securing a lasting peace. In 1957, the Treaty of Rome establishes the European Economic Community (EEC) and a new era of ever-closer cooperation in Europe.

Detailed explanation-5: -In 1951, Europe’s integration began when the European Coal and Steel Community was formed with a supranational authority to regulate the production and sale of heavy materials. The economic integration gradually turned into the political one.