The Maastricht Treaty significantly increased cooperation between European countries in a number of new areas: Show
2. It was signed by 12 countriesRepresentatives from 12 countries signed the Treaty on 7 February 1992 – Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain and the United Kingdom. The parliaments in each country then ratified the Treaty, in some cases holding referendums. The Maastricht Treaty officially came into force on 1 November 1993 and the European Union was officially established. Since then, a further 16 countries have joined the EU and adopted the rules set out in the Maastricht Treaty or in the treaties that followed later. *There are now 27 EU Member States following the departure of the United Kingdom from the EU. 3. It laid the foundations for the euroThe Maastricht Treaty paved the way for the creation of a single European currency: the euro. It also established the European Central Bank (ECB) and the European System of Central Banks and describes their objectives. The main objective for the ECB is to maintain price stability, i.e. to safeguard the value of the euro.
4. It introduced the criteria that countries must meet to join the euroThe Treaty also established rules on how the euro would work in practice. This included specifying what a country needs to do to join the euro area. The rules work to ensure that countries joining are stable in the following areas:
5. It was a giant leap forward for European integrationSince the signing of the Maastricht Treaty, European countries have grown closer together while some policy areas such as economic and fiscal policies remain at national level. European leaders have agreed on additional steps to promote further integration between European states such as:
Today, more than 440 million citizens from 27 Member States enjoy the benefits of European cooperation. In the years since the roadmap towards the euro was agreed, the euro has become the world’s second most traded currency and is part of the daily life of 340 million citizens in 19 countries. What did the Maastricht Treaty establish quizlet?The Maastricht Treaty (more formally referred to as the Treaty on European Union, or TEU) was signed in February 1992. It established the European Union (EU), enlarged the scope of Community competence and further refined the law-making process, in particular, by increasing the European Parliament's powers.
What is true of the Maastricht Treaty quizlet?What is true of the Maastricht Treaty? It allows for the free movement of goods throughout the member states of the European Union. the Baltic states. Every type of economic union shares the development and enlargement of market opportunities as a basic orientation.
What led to the formation of the European Union quizlet?An international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members.
Which of the following was a 1947 treaty among nations whose governments agreed at least in principle to promote trade among members?The General Agreement on Tariffs and Trade (GATT 1947)
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