The Maastricht Treaty, officially known as the Treaty on European Union, was signed on February 7, 1992, in Maastricht, Netherlands. This historic document marked a pivotal moment in European integration, setting the foundation for the creation of the European Union and the introduction of a single currency, the euro. The treaty was significant not only for its economic implications but also for its political integration strategies, fostering deeper cooperation among member states in various sectors.

The treaty formally established the European Union by integrating previous European communities and expanding cooperation into new areas, including foreign policy, security, and justice. It also introduced European citizenship, enabling citizens of member states to move freely, reside, and work within the Union, as well as participate in both local and European elections in any member state. This significant enhancement of citizens' rights and mobility represented an essential step towards a more unified Europe.

Furthermore, the Maastricht Treaty set the framework for the creation of the Economic and Monetary Union (EMU), establishing convergence criteria that member states had to meet in order to adopt the single currency. These criteria were designed to ensure economic stability and coordination among member nations, further solidifying the commitment to deeper economic integration. The treaty's legacy is evident today as it laid the groundwork for a unified Europe, shaping its political landscape and economic policies.