Author's earlier paper, 'European Economic Community: Underlying Motives and Their Implications' (Working Paper No.841, January 1990) analysed four basic motives underlying formation of EEC. Analysis indicated that for Monnet (Father of EEC), the Common Market was a strategy to unify Europe. Similarly, Gorbachov's perestroika and glasnost are strategies to provide 'freedom' to East European communities and European Russia to ultimately become members of a United States of Europe. The analysis further indicated that the driving force behind the 'Unity of Europe and of people of European origin was genetic-ethnic-racial. It also indicated that Europe's march from nationalism to supra-nationalism would lead to supra-Euracialism. This from historical perspective means leading to War of Races. In this sense the analysis validates the early warning of influential American columnist James Reston in 1961: “The great conflict at the end of the century will not be ideological but racial”. EEC-1992 is of great symbolic significance for non-European communities. It is exactly 500 years after Columbus reached North America in 1492, the beginning of ruthless exploitation of non-European communities for five centuries. EEC-1992 is a landmark, a symbol of consolidation of European community's power. It can also be a prelude to War of Races. The analysis raised a number of questions and issues. For example, what is really happening in EEC? Whether the 1992 schizophrenia and intense attention given to economic and commercial interests have hidden the deadly politico-racial objectives of EEC? In this paper, we seek answers to many such questions and related issued from the writings of western scholars, diplomats and columnists. This also provides a backdrop for analysis of reactions to EEC in India presented in the author's third working paper in the series to be brought out in March 1990.