. The Community is the world's largest trading block accounting for about a third of world trade.
With the United Kingdom's entry into the Common Market its century-old insularism, or ‘splendid isolation' came to an end.. The Britons came to the conclusion that although their geographical position has been a factor in separating the country from the rest of Europe, it was time to link up with the Continent.
On 7th February 1992 at Maastricht, the Foreign and Finance Ministers of the twelwe member states of the time officialy put their signatures to a treaty, called the Treaty of Maastricht, for a European Union.
Britain 's Accession By the Treaty of European Community of Accession, signed in January 1972, Britain became a party of the two treaties of Rome establishing the EEC and Euratom. Accession to the European Coal and Steel Community was effected by a decision of the Council of Ministers.
The European Communities Act 1972 made the legislative changes necessary for Britain to comply with the obligations entailed by membership of the Community and to exercise the rights of membership.