On February 7, 1992, the Maastricht Treaty, also known as the Treaty on European Union, was signed in Maastricht, the Netherlands, by members of the European Community. This treaty created the European Union ("EU"), and led to the creation of the Euro (i.e. the monetary currency used by members of the EU).

The Maastricht Treaty was a result of the desire of many member countries of the European Community wishing to extend their reach to the areas of foreign policy, military, criminal justice, and judicial cooperation. In response to this need, the Maastricht Treaty created the "pillar" structure in the European Union. The EU was to consist of three "pillars": the European Community (EC) pillar, the Common Foreign and Security Policy (CFSP) pillar, and the Justice and Home Affairs (JHA) pillar.

Another objective of the Maastricht Treaty was to create of a common market, which eventually led to the Euro’s use as a common currency.

Though the treaty has been amended since 1992, the events of February 7, 1992 in Maastricht, the Netherlands, changed the face of Europe as we know it today.