The Treaty of Maastricht

In December 1990 an Intergovernmental Conference began at which the EC member states were to negotiate the necessary amendments to the Treaty of Rome in order to introduce closer economic cooperation and the single currency. The final result was incorporated in the new EU treaty which was signed in Maastricht, the Netherlands, in 1992. The result is close to the proposals made in the Delors Report. The Treaty of Maastricht is the legal basis for the second and third stages of EMU. In 1993, the Treaty of Maastricht was finally adopted (with the four Danish reservations). The EMU provisions in the Treaty of Maastricht remained unchanged in the Treaty of Amsterdam, which took effect in 1998.