WORLD HISTORY

Detailed explanation-1: -It is a major milestone, setting clear rules for the future single currency as well as for foreign and security policy and closer cooperation in justice and home affairs. The ‘European Union’ is officially created by the treaty, which enters into force on 1 November 1993.

Detailed explanation-2: -The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957, aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union in 1993.

Detailed explanation-3: -The European Union was formally established when the Maastricht Treaty-whose main architects were Horst Köhler, Helmut Kohl and François Mitterrand-came into force on 1 November 1993. The treaty also gave the name European Community to the EEC, even if it was referred to as such before the treaty.

Detailed explanation-4: -The treaty was designed to enhance European political and economic integration by creating a single currency (the euro), a unified foreign and security policy, and common citizenship rights and by advancing cooperation in the areas of immigration, asylum, and judicial affairs.

Detailed explanation-5: -EEC Becomes EU The EU we know today never really became the European Union until 1992. The EU was known for the few decades prior as the European Economic Community (EEC). The name change was part of the Treaty on European Union, signed in Maastricht, in the Netherlands, in February.