The term Maastricht Treaty refers to the international agreement that was responsible for the creation of the European Union (EU). The agreement was signed in 1992 in the Dutch city of Maastricht and became effective in 1993. It led to greater cooperation between the 12 member nations that signed the treaty by promoting unified citizenship, along with economic, social, and progress. The treaty also laid down the foundation for a single currency, the euro. It was amended several times since it was signed.