The Treaty of Maastricht, signed in 1992, established the European Union (EU) and laid the groundwork for the Euro currency. It aimed to enhance political and economic integration among member states, creating a single market and promoting cooperation in various areas, including foreign policy and security. The treaty introduced the concept of EU citizenship, allowing citizens to reside and move freely within member countries. It also set criteria for countries wishing to adopt the Euro, fostering closer economic ties and stability across Europe. The treaty marked a significant step in European integration and cooperation.