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Summary: European Coal & Steel Community Dec 06
Standard & Poors, December 2006
Founded in 1951 by international treaty, the European Coal & Steel Community (ECSC) was a legally autonomous partnership starting with six, but eventually composed of 15, EU member countries. ECSC's mandate was to promote member states' economic development by creating and overseeing a common market for the strategically important coal and steel sectors through the coordination of production and the extension of loans and guarantees. The treaty establishing ECSC expired after 50 years, at which time the ownership of ECSC funds was transferred to the European Community (EC). In anticipation of the ECSC Treaty's expiry on July 23, 2002, the ECSC's borrowing and lending activities were gradually phased out from 1997. Nevertheless, ECSC issued bonds that mature after the treaty's...
Companies mentioned in this report are: European Coal & Steel Community in Liquidation,European Union
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European Coal & Steel Community in Liquidation,European Union