●τ 1992

1992-2-7 - 1993 Maastricht Treaty (Treaty on European Union)

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 (TEU) and all pre-existing treaties has subsequently been further amended by the treaties of Amsterdam (1997), Nice (2001) and Lisbon (2007). Today it is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on the Functioning of the European Union.