DEFINITION of 'European Community - EC'
The European Community is one of the three pillars of the European Union (EU). The pillars represent the three different areas of cooperation within the union. The European Community is the first pillar and represents supranational cooperation. The policies within this area allow the EU to issue legislation that directly binds its citizens.
BREAKING DOWN 'European Community - EC'
The second pillar represents foreign and security policy, and the third represents cooperation between EU governments regarding issues related to police, judicial and criminal matters.