Maastricht Treaty celebrates 20th anniversary 2012

Today the EU celebrates the signing of the Maastricht Treaty in 1992. A treaty that marked the institutionalization of the current European Union and paved the way for the creation of the single currency, the euro. 

 

However, the anniversary of the treaty is likely to be celebrated in a  low profile manner. Facing the largest economic crisis since the Great Depression of the 1930s and rising opposition of nationalist parties in member states, the EU is anything but a rosy institution at the moment.  

Frustration over political delays in how to approach the crisis and the transfer of a number of national monetary tools towards the EU, encourages national and social parties to demand the return of national sovereignty.

Regardless of these minor frictions, budget deficits, bail outs, defaults on loans, immigration issues or any other modern day problems, the anniversary of the signing of the Maastricht Treaty is celebrated with various events in Maastricht.