The European Atomic Energy Community (EAEC or Euratom) is an international organisation founded in 1957 with the purpose of creating a specialist market for nuclear power in Europe, developing nuclear energy and distributing it to its member states while selling the surplus to non-member states. It is legally distinct from the European Union (EU), but has the same membership, and is governed by the EU's institutions.
Its major project is currently its participation in the international fusion reactor ITER financed under the nuclear part of FP7. Euratom also provides a mechanism for providing loans to finance nuclear projects in the EU.
It was established by the Euratom Treaty on 25 March 1957 alongside the European Economic Community/EEC, being taken over by the executive institutions of the EEC in 1967. Although other communities were merged in 1993 and 2009, the nuclear program has maintained a legally distinct nature from the European Union.
Read more about European Atomic Energy Community: History, Achievements, Presidents of The EAEC
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