ic Community. The ECM aimed at the adoption of a common trade policy, abolition of tariff restrictions on imports and exports, allowing free movement of persons, goods and capital within ECM and creation of a European Investment Fund.Organs of ECM: The European Common Market functioned through the following four main bodies.(i) The Executive Commission.(ii) The Council of Ministers.(iii) The Parliamentary Assembly(iv) The Court of Justice.(i) The Executive Commission: The Executive Commission consisted of nine members. It was the main administrative body of ECM. The commission negotiated tariff with non-member nations, preserved competition and implemented treaty regulations and general policies of the common market. In addition the commission was required to submit its policies and programs to the council of ministers. The commission discharged its main functions through various directorates.(ii) The Council of Ministers: The Council of Ministers consisted of six representatives one each from the member states. Each nation was allocated votes according to their economic position. France, Italy and West Germany had four votes each, Belgium and Netherlands had two votes each whereas Luxembourg had one vote. The Council of Ministers was the chief policy making body. It had the authority to accept or reject the budget of ECM.(iii) The Parliamentary Assembly: The assembly consisted of 142 members who were elected by and from the legislatures of the member states. To the 142 members assembly France, Germany and Italy contributed 18 each, Belgium and Holland 14 each and Luxembourg 6 members. It functioned as the Assembly of EEC, ECSC and EURATOM and in this respect was called the European Parliament. The assembly discussed the annual reports of the executive commission.(iv) The Court of Justice: The court of justice consisted of seven judges. Its main function was to interpret the treaties. It also mediated between the countries. All the memb...
