BANKING AFFAIRS

Detailed explanation-1: -The Maastricht Treaty, officially known as the Treaty on European Union, laid the foundations for the European Union as we know it today. It was the result of several years of discussions between governments and was signed in the Dutch city of Maastricht, which lies close to the borders with Belgium and Germany.

Detailed explanation-2: -The Maastricht Treaty established the European Union, paved the way for the euro and created EU citizenship. Scroll down to learn more. The Maastricht Treaty was signed on 7 February 1992 and had a profound impact on European integration.

Detailed explanation-3: -The treaty was signed by 12 countries in the Dutch city of Maastricht in 1992 and went into effect in 1993. The agreement established greater cooperation between member states through economic, social, and legal channels. The Maastricht Treaty established the European Union’s single currency system for the euro.

Detailed explanation-4: -Treaty on European Union-Maastricht Treaty Main changes: establishment of the European Union and introduction of the co-decision procedure, giving Parliament more say in decision-making. New forms of cooperation between EU governments – for example on defence and justice and home affairs.