1992-2008

The birth of 'political union'

The disappearance of the Soviet bloc brought about a complete shake-up of the world order, with major implications for the European project. The Member States of the Communities responded to the new status quo by reaffirming the political dimension of the European project with the signature, in 1992, of the Maastricht Treaty instituting the European Union and laying the foundations for a single currency. Shortly afterwards, the new European Union, recently enlarged to take in Austria, Sweden and Finland (1995), opted for the biggest enlargement in its history to incorporate the new democracies of Central and Eastern Europe. Since then, Europe has worked to reconcile its geographical enlargement with a deepening of its political project. The stakes are huge, nothing less than the ability of the Union to become a true democratic space and to assert itself as a player in the globalised world.