Maastricht Treaty

When we think about 1993, we probably think about things like Doc Martens, Beanie Babies, and grunge music. But there were a lot of other things happening, like the formation of the European Union.

That’s right: before 1993, there was no EU. All those member countries were a lot more independent and autonomous, and they each had their own distinctly different ways of doing things, like issuing currency. But that all changed in 1992 with the signing of the Maastricht Treaty, which brought the European Union to life. (It was signed in 1992 but didn’t take effect until 1993; we’re not trying to confuse anyone with our dates here.)

The full updated name of the Maastricht Treaty is the Treaty on European Union, which is…accurate. Not only did this treaty formally create the EU, but it also put in place the mechanisms by which the EU operates. For example, it created the euro, which meant that no longer did we need to have francs in France and Deutschmarks in Germany. One common currency could now be used anywhere in the EU, and would be monitored by one central bank. The treaty also gave every member country citizenship and voting rights in EU affairs, and it increased intercountry cooperation in terms of social initiatives, criminal extradition, environmental protections, and the like.

The Maastricht Treaty has been periodically updated and amended over time, most notably by the Lisbon Treaty in 2009. And there’s a good chance that it will continue to be updated and amended (will Brexit require a treaty amendment? Stay tuned!) as time trudges on.