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Maastricht Treaty

World Encyclopedia | 2005 | © World Encyclopedia 2005, originally published by Oxford University Press 2005. (Hide copyright information) Copyright

Maastricht Treaty (February 7, 1992) Agreement on European Union (EU) signed by the leaders of 12 European nations at Maastricht, se Netherlands. The treaty included a timetable for the introduction of a single currency (the euro); a Common Foreign and Security Policy (CFSP), with the Western European Union (WEU) as a possible defence arm of the EU; a common European citizenship for nationals of all member states, and the extension of European cooperation in justice and home affairs. The treaty introduced the principle of subsidiarity, whereby decisions are taken at the most appropriate level: local, regional or national. It extended qualified majority voting in the European Council of Ministers and increased the powers of the European Parliament (EP) over the budget and the European Commission. Eleven states adopted a separate protocol on social policy (the social chapter), with the UK opting-out. The UK signed up to the social chapter in the Amsterdam Treaty (1997).

http://eu.int/en/record/mt/top.html

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