The Maastricht Treaty, signed in 1992, is a significant agreement that laid the foundation for the modern European Union (EU). It aimed to enhance political and economic cooperation among member countries, introducing the concept of a single currency, the Euro. This treaty marked a major step towards deeper integration, allowing for shared policies on trade, security, and social issues. Additionally, the Maastricht Treaty established the European Central Bank and set criteria for countries wishing to adopt the Euro. It also strengthened the role of the European Parliament, giving citizens a greater voice in EU decisions. Overall, the treaty was crucial in shaping the EU as we know it today.