February 7, 1992

Signing of the Maastricht Treaty on European Union

At the beginning of the 1990s, two intergovernmental conferences (CIG) were held in parallel: one addressing a plan for political union, the other concerning economic and monetary union with the long-term aim of adopting a single currency. These two processes were subsequently combined, resulting in the signing of the Maastricht Treaty on European Union. An essential stage in the establishment of 'an ever closer union among the European peoples', this treaty instituted European citizenship and a Common Foreign and Security Policy (CFSP). It set the dates in the calendar that would end in the creation of a single currency. After an initial negative referendum result in Denmark, France elected to ratify this treaty in a referendum held on 20 September 1992, which produced a 51.04% 'yes' vote. After a second referendum in Denmark - positive this time – the Maastricht Treaty entered into force on 1 November 1993.