Maastricht Treaty

Definition

The Maastricht Treaty, signed in 1992, established the European Union (EU) and set the stage for economic and political integration among its member states, including the introduction of a common currency. It represents a pivotal moment in European history by creating frameworks for foreign policy, security, and citizenship within the EU.

Related terms

European Union:

A political and economic union of 27 European countries that are committed to regional integration based on the foundations laid by treaties such as the Maastricht Treaty.

Eurozone: The group of European Union nations whose national currency is the euro, which was introduced as part of the economic integration efforts stipulated by the Maastricht Treaty.

Supranational Organization: An entity formed by two or more sovereign states to promote shared objectives and governance beyond national boundaries, exemplified by institutions created under the Maastricht Treaty