Maastricht Treaty Maas‧tricht Trea‧ty [ˌmɑːstrɪkt ˈtriːti, ˌmɑːstrɪxt-] noun
ECONOMICS the agreement in 1992 by member countries of the European Union to prepare for closer economic union and the Euro
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An agreement signed in 1991 by the 12 member nations of the then European Community, that set the timetable and criteria for Economic and Monetary Union within the bloc. The treaty also created the European Union, with new political and social responsibilities, to replace the European Community. The Maastricht Treaty is also known as the Treaty on European Union.
Financial and business terms. 2012.