is how it is now referred to (having originally been the European Common Market, the European has generally been dropped as it is implied)...
... but bear in mind that in English at least, this is itself a 'dated' term, given that we now talk much more frequently about the European Community!

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Note added at 2002-08-30 10:22:46 (GMT)
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Or the European Economic Community, but European Community is now the standard term...

Check the link:

http://www.bartleby.com/65/eu/EuropnEC.html

From Eurodicatom:

TERM Mercado Común Europeo

Reference Buttress, Abbr. of Org.
(2)
ABBREV MCE
Reference Buttress, Abbr. of Org.

(1)
ABBREV E.C.M.
(2)
TERM European Common Market

thought this ref may be of interest.

European Economic Community (EEC; Common Market)


The European common market set up by the six member states of the European Coal and Steel Community (ECSC) in 1957. At the same time the European Atomic Energy Community (Euratom) was set up. The European Parliament and the European Court of Justice were formed in accordance with the Treaty of Rome in 1957. The treaty aimed to forge a closer union between the countries of Europe by removing the economic effects of their frontiers. This included the elimination of customs duties and quotas between members, a common trade policy to outside countries, the abolition of restrictions on the movement of people and capital between member states, and a Common Agricultural Policy. In addition to these trading policies, the treaty envisaged a harmonization of social and economic legislation to enable the Common Market to work (See also European Investment Bank). The European Community (EC) was created in 1967, when the controlling bodies of the EEC, ECSC, and Euratom were merged to form the Commission of European Communities (See European Commission) and the Council of European Communities. The UK, Ireland, and Denmark joined the EC in 1973, Greece joined in 1979, and Portugal and Spain became members in 1986, making a total of 12 nations. In 1993 the European Community became the European Union and was joined by Austria, Finland, and Sweden in 1995. See also European Monetary System.


Dictionary of Business, Oxford University Press, © Market House Books Ltd 1996