Treaty of Maastricht

The Treaty of Maastricht, signed in 1992, established the European Union (EU) and laid the groundwork for the euro currency. It aimed to promote economic integration, political cooperation, and a single market among member states. The treaty introduced new areas of cooperation, including common foreign and security policy, and justice and home affairs. It also increased the powers of the European Parliament. Overall, the Maastricht Treaty was a significant step towards deeper collaboration among European nations, enhancing both economic ties and political unity.