MAASTRICHT TREATY: OBJECTIVES, SIGNATORIES AND EFFECT ON ECONOMICS - HISTORY - 2025

The Maastricht Treaty or treaty of the European Union is one of the most important agreements that have been made within the organization of this union of countries. Said agreement was signed on February 7, 1992 and began to be applied as of November of the following year.

The main objective of this treaty -which is considered one of the pillars of this organization- consisted of building, through a series of agreements, a much closer union between the countries that make up the European continent in order to achieve objectives common for the benefit of most countries and citizens.

The Maastricht Treaty is considered the fundamental basis of the European Union. Source: pixabay.com

Therefore, this agreement signified a new stage within the political processes of the European Union, since through this agreement it was sought to make decisions that were as open and close to common citizens within the possibilities and legal limits.

This treaty is based on the values ​​of respect for human dignity, democracy, equality, freedom and the rule of law; within this category are included the rights of all citizens, specifically those of those people belonging to marginalized minorities.

Another of the objectives established in this treaty consisted in the search to promote general peace; It also seeks to promote the values, protection and well-being of the peoples, respecting the culture and inclinations of each one of them.

This agreement also allows the free movement of people of European nationality within the continent; however, such movement must be kept regulated by appropriate measures to prevent chaos and crime between EU countries

In addition, the Maastricht Treaty establishes the necessary policies to strengthen the internal market, thereby seeking the growth of a balanced economy, as well as establishing a balance in prices. The European Union determined that it was necessary to enact a competitive market that would promote employment and social progress.

What is the Maastricht Treaty?

The Maastricht Treaty consists of an agreement that modified the previously established European treaties with the aim of creating a European Union based on three fundamental bases.

These bases are the European communities, cooperation in the fields of justice and home affairs (JHA) and the common foreign and security policy (CFSP).

With these modifications, the extension of the European Union was extended. Likewise, thanks to the Amsterdam Treaty (carried out later), it was sought to guarantee the effective and democratic operation of the expansion proposed in the previous treaty.

The Treaty on the European Union had to undergo three revisions before reaching the final postulate; These revisions are known as the Treaty of Amsterdam, the Treaty of Nice and the Treaty of Lisbon, the latter being the definitive modification.

Taking into account the Lisbon Treaty, it can be established that the Maastricht Convention sought to recall the main objectives of the European Union, as well as its origins and values.

In addition, this agreement focuses on the essential elements of the organization, such as the deepening of the integral character and the solidarity that must be present between the different European States.

Likewise, this treaty recalls the importance of respect for the rights of citizens and for cultural variety; These concepts are considered strictly from the democratic character.

Competences that were established in the treaty

In this European Union agreement, a series of competences were established that are constituted in three fundamental pillars, as established in previous paragraphs. These are: the European community, the CFSP and the JHA.

To maintain order within these three main bases, intergovernmental cooperation was necessary; This was achieved through the participation of common institutions and some elements related to the supranational sphere.

In other words, it required the participation of the European Commission and the European Parliament.

goals

Each basis of the Maastricht Treaty has a series of objectives to fulfill, these being the following:

Objective of the European Community

The aim of the European Community was to ensure the proper functioning of the market, as well as to ensure the balanced, bearable and harmonious development of the different activities carried out by the economic sector. It should also guarantee a high level of employment and equal employment opportunities for women and men.

These objectives were defined in the Treaty establishing the European Community (TCE); they were established in articles 3, 4 and 5 of said agreement.

Objective of the common foreign and security policy (CFSP)

According to the treaty, the European Union must execute a foreign and security policy based on an intergovernmental method; In this way, the States belonging to the organization are obliged to support the established parameters, guided by solidarity, loyalty and common values.

Likewise, this pillar sought to ensure the promotion of international cooperation, and interest in respect for human rights and the consolidation of democracy was also nurtured.

Cooperation in the fields of justice and home affairs (JHA)

One of the objectives set out in the Maastricht Treaty was the development of common action within the fields of justice and home affairs.

This is intended to offer citizens a high performance in terms of protection in an area comprised of security, freedom and justice.

The implications of the above are that the EU had to implement a series of crossing rules at the external borders and tighten controls. Emphasis was also placed on the fight against terrorism, drug trafficking and crime, an effort was made to eradicate irregular immigration and a common asylum policy was implemented.

Signatories

The European Union is made up of a series of countries represented by their respective leaders, who have the duty to listen to the different proposals that seek the common benefit of the States and their citizens.

In 1992 there were not so many member countries of the European Union; therefore, only some of the main representatives that make up this organization today signed the treaty. The signatories of the Maastricht treaty were the following:

-The king of the Belgians.

-The queen of Denmark.

-The President of the Federal Republic of Germany.

-The President of Ireland.

-The President of the Hellenic Republic.

-The king of Spain.

-The president of the French Republic.

-The president of the Italian Republic.

-The Grand Duke of Luxembourg.

-The queen of the Netherlands.

-The president of the Portuguese Republic.

-The Queen of the United Kingdom of Great Britain and Northern Ireland.

Consequently, the countries that signed the treaty were Belgium, Ireland, Germany, Denmark, France, Spain, Greece, Italy, the Netherlands, Luxembourg, Portugal and the United Kingdom.

In 1995 other countries such as Finland, Austria, Sweden, Cyprus, Slovenia, Czech Republic, Slovakia, Hungary, Estonia, Lithuania, Malta, Poland and Latvia joined.

Later, in 2007, Romania and Bulgaria signed; Finally, Croatia was annexed to the Treaty of the European Union in 2013.

Impact on the economy

One of the main approaches of the European Union, which was addressed within the Maastricht Treaty, consisted of establishing common bases to contribute to economic development.

Therefore, the incorporation of collective solidarity was essential to carry out the necessary actions that favored the common good.

Despite the European Union's quest to provide jobs and contribute to the economic growth of nations, after the signing of the treaty in 1992 the European panorama was overshadowed by a series of crises that slowed the positive impulses of the EU

For example, during the following decades the unemployment rate skyrocketed, which made governments have to dedicate themselves to solving their own national crisis, leaving aside the solidarity and collective construction that was required in the treaty.

In addition, terrible monetary tensions were unleashed, which resulted in the establishment of the European Monetary System and the emergence of the EMU (Economic and Monetary Union).

Limited performance

Finally, according to some insiders, the European Union was not up to the task in solving the problems corresponding to the introduction of foreign and security policy.

This can be specifically exemplified with the case of the Yugoslavia crisis, which facilitated the entry of the war to the European continent and ended the decades of peace.

Despite this, the importance of this treaty within the European Community cannot be denied, since it allowed the opening between the different countries that make up the Old Continent.

Likewise, it facilitated the economic negotiations of the States and the transfer of citizens of European nationality within the territory, offering them more opportunities.

References

1. (SA) (2010) "Treaty on European Union". Retrieved on March 17, 2019 from EU Europe: europa.eu
2. (SA) (2010) "Consolidated version of the Treaty of the European Union". Retrieved on March 17, 2019 from the Official Journal of the European Union: boe.es
3. (SA) (2019) “The Maastricht and Amsterdam Treaties”. Retrieved on March 17, 2019 from the European Parliament: europarl.europa.eu
4. Canalejo, L. (sf) “The revision of the Maastricht treaty. Amsterdam Intergovernmental Conference ”. Retrieved on March 17, 2019 from Dialnetl: dialnet.com
5. Fonseca, F. (sf) "The European Union: Maastricht Genesis". Retrieved on March 17, 2019 from Dialnet: dialnet.com
6. Orts, P. (2017) "The Maastricht Treaty turns 25". Retrieved on March 17, 2019 from BBVA: bbva.com