European Economic Community

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European Economic Community (EEC)

the third of the three foundation organizations of what is now the EUROPEAN UNION. Constituted by one of the Rome Treaties of March 1957, this community drove progress towards European integration. Its ‘common market’ was the source of attraction to Europe for the UK.
References in periodicals archive ?
In the case of financial policy, financial liberalization began in the early 1980s, as Japanese corporate borrowers increasingly utilized the Euromarket to raise funds and as Japanese banks grew weary of purchasing government bonds below market rates without the ability to resell them in the secondary market.
Early changes euromarket (bond market) * Government 1975 The large-scale flotation of bond market government bonds begins.
a wholly owned subsidiary, will underwrite securitized products on the Euromarket and sell them to investors such as regional banks in Japan through Shinsei Securities Co.
Table 1 Bonds issued in the Euromarket by India (1980-92) Name Date of Issue Currency Amount Industrial 6/1989 dollar 100 million Development Bank of India Oil and Natural 12/1988 dollar 125 million Gas Commission Oil and Natural 3/1990 dollar 125 million Gas Commission State Bank of 6/1988 yen 15 billion India Industrial 3/1987 DM 200 million Development Bank of India Industrial 9/1988 DM 250 million Development Bank of India Industrial 2/1986 DM 100 million Development Bank of India Oil and Natural 2/1987 DM 150 million Gas Commission Name Maturity Coupon Industrial 6/6/96 10% Development Bank of India Oil and Natural 16/11/1993 9.
This same principle is being adapted to the Internet, as illustrated in Euromarket Designs, Inc.
153) The Committee voted in a number of amendments designed generally to ease regulation on small businesses and Euromarket transactions.
104) Many of these companies began issuing bonds on the Euromarket, because in contrast to Japan's strict collateral rules and asset requirements enforced by the banks, the Euromarket had no collateral requirement, and its best credit ratings and cheapest financing went to firms with the strongest capital base or low debt-equity ratios.
Instead, in 1998, Crate & Barrel, incorporated as Euromarket Designs, turned to the deep pockets of Otto Versand, which is one of the world's largest privately held mail-order firms, to speed up its expansion, according to The Wall Street Journal.
The United States and Britain, by creating the Euromarket, undermined the Bretton Woods system, unilaterally offering mobile financial traders the ability to operate without regulation.
As far as international lending through the Euromarket is concerned, the available evidence points in the opposite direction: declining spreads over London Inter Bank Offered Rate (LIBOR) for borrowers in Latin America, whose creditworthiness was certainly doubtful.
l] 1-month Euromarket interest rates, being period averages of working days, from the Bank of International Settlements (BIS).
The support of states was also important because every participant in the euromarket is a citizen of a sovereign state and potentially subject to that state's regulations.