On March 17, 1992, the Maastricht Treaty was signed, marking the creation of the European Union and laying the groundwork for the introduction of the Euro as a common currency. The treaty, signed by 12 member states of the European Community, represented a significant step towards greater political and economic integration in Europe. The signing of the treaty came after years of negotiations and was a key moment in European history. It was met with both support and opposition, with critics arguing it undermined national sovereignty. The Maastricht Treaty shaped the direction of European integration and continues to influence EU policy today.