European Economic Area

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European Economic Area

n
(Currencies) a free-trade area created in 1994 by an agreement between the European Free Trade Association (EFTA), excluding Switzerland, and the European Union (EU). Abbreviation: EEA
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References in periodicals archive ?
It also brought about parallel control, by the European Commission and the European Court of Justice, of EEA Treaty obligations on the part of the EU Member States.
The European court recognised that the French rules constitute a restriction on the principle of free movement of capital, prohibited by the EEA treaty - and by EU law (Article 56 of the EEC Treaty and the Elisa judgment of 2007), which is nevertheless not transposable to relations between the EU27 and non-EU states.
In 2007, Liechtenstein had an obligation under the EEA treaty to harmonize its laws with EU directives 2005/36 and 1999/42 on the mutual recognition of EU and EEA university and professional diplomas.