Maastricht Treaty comes into effect, creating the European Union

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Maastricht Treaty

The Maastricht Treaty (officially the Treaty on European Union) was signed on 7 February 1992 by the members of the European Communities in Maastricht, Netherlands, to further European integration. On 9–10 December 1991, the same city hosted the European Council which drafted the treaty. The treaty founded the European Union and established its pillar structure which stayed in place until the Lisbon Treaty came into force in 2009. The treaty also greatly expanded the competences of the EEC/EU and led to the creation of the single European currency, the euro.

The Maastricht Treaty reformed and amended the treaties establishing the European Communities, the EU's first pillar. It renamed European Economic Community to European Community to reflect its expanded competences beyond economic matters. The Maastricht Treaty also created two new pillars of the EU on Common Foreign and Security Policy and Cooperation in the Fields of Justice and Home Affairs (respectively the second and third pillars), which replaced the former informal intergovernmental cooperation bodies named TREVI and European Political Cooperation on EU Foreign policy coordination.

— Wikipedia

Maastricht Treaty. Wikipedia.

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