The European Union was formed through a treaty drafted on February 7, 1992, after a long turmoil of war and conflicts among the nations of Western Europe. The European Union was objectively aiming at the spirit of economic cooperation and rebuilding through signing the Maastricht Treaty of the EU. The minister from the European community signed the treaty. The aim was to call for better and improved economic integration and development.

The member states

The European Union was focusing extensively on the economic empowerment of the ember states. In 1993, the treaty was ratified by 12 nations: Germany, France, The Irish Republic, Spain, Great Britain, Denmark, Spain, Greece, Italy, Belgium, Portugal, Luxembourg, and the Dutch. Since the formation, Austria, Bulgaria, Finland, Sweden, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Malta, Slovakia, and Slovenia have joined the European Union. However, the United Kingdom citizens voted to turn away from the European Union in June 2016, in what became known as Brexit. The European Union then implemented the move on January 31, 2020. The United Kingdom was given an 11-month transition period, in which it completely ceased ties with the European Union. Although nothing has been actuated, France’s potential exit has been confirmed, dubbed Frexit rumors.

Euro Currency and foreign policies

The official settings of the treaty took effect while focusing on mega infrastructural projects that were part of the growing European Community ties. The Eu was also meant to build common foreign and security policies. Cooperation between police from member states was also valued and implemented to curb crimes, immigration, and terrorism. The formation of the European Union was also based on the laying groundwork for the Euro currency. The agreement was later actuated on January 1, 2002, when the Euro currency was officially launched.