Definitions for "Maastricht Treaty"
A treaty signed in 1992 by members of the European Community (EC), under which the European Union (EU) was formed. The treaty calls for the establishment of European Monetary Union (EMU) by 1999 and for common policies on foreign affairs, security, justice, transport and the environment. At the time of going to print (April 1996), none of the 12 EU countries had yet met the five economic ' convergence' targets, including common GDP- deficit ratios, that have been set for 1997 as a foundation for EMU. The EU comprises Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain and the United Kingdom.
The 1991 treaty among members of the EU to work toward a monetary union, or common currency. This ultimately resulted in adoption of the euro in 1999.
The EU treaty adopted in 1993 that outlines plans for a single currency, coordinated social policy, and coordinated foreign policy.