What Was The Maastricht Treaty Agreement

Posted on: April 15th, 2021 by designer No Comments

The international agreement laid the groundwork for the euro, confirming the right of European citizens to travel freely, work and study and vote for elections to the European Parliament in each member state of the bloc. In the context of the end of the Cold War and the reunification of Germany and in anticipation of the acceleration of globalisation, the treaty has negotiated tensions between Member States that aspire to further integration and those wishing to retain greater national control. The resulting compromise was the first to face a series of ratification crises in the EU treaty. The creation of the Economic and Monetary Union was another important development of the EU that the TUE brought about. It was seen as the “strongest form” and the last step towards full economic integration (Healey 1995: 7). Many agreements were reached as a result of the SEA, which highlighted continued cooperation. The plan, which had already emerged in the 1980s, was described as a 1992 project. The idea was essentially a European internal market in which all barriers to trade would be removed and in which it was to “lead to a more united Community” (Delors to Cecchini, Catinat and Jacquemin, 1988: xi). The aim of the plan was to develop more efficient trade and stimulate growth and development within the COMMUNITY (Construction, 1995: 608). Many agreements had already been concluded before 1992, the Maastricht Treaty has just made these commitments “legally binding” (Best in Laursen and Vanhoonacker, 1994a: 28). Therefore, the TUE statements were “more a matter of legitimization than innovation” (ibid.), but would be the final touch for the single market (Europe, 2007).

As a result, economic integration with the union in the 1990s would be a non-return. The consequences of an SEM and the creation of a single currency would be irreversible measures for the EU (ibid.: 17). What makes EMU so important today is the knowledge that each Member State acknowledged in 1992 that it would be in a sustainable situation where European integration would advance its policy and that the decisions taken in the development of the treaty would be irrevocable; No State would be able, after ratification, to return to its previous relative economic and political independence, but they nevertheless agreed with it. By excluding any role of the future ECB and the euro in the policy of national or coordinated reflation, Maastricht reaffirmed the orthodoxy of general economic policy within the Community in the late 1980s. This is “reverse Keynesianism”: macroeconomic policies aimed at not guaranteeing a full level of employment, but at maintaining price and financial market stability by restrictively controlling monetary growth and public spending; Microeconomic policy, not to develop income and price controls to support tax expansion, but to promote job creation by removing barriers to reducing labour costs. [32] The commitment to monetary union and convergence criteria have prevented Member States from resorting to monetary deflation to ease balance-of-payments constraints on domestic spending, leaving the “flexibility” of the labour market as the only way to cope with asymmetric economic shocks. [35] European NAvigator (n.d.) `The Maastricht Treaty` [online], European NAvigator. Available at www.ena.lu/treaty_maastricht-2-16468. Access on November 15, 2010. One of the main innovations brought by the TUE, with its three-pillar structure, was the creation of a political union.

There have already been some agreements on social policies after the SEA, but integration has focused more on the economic aspect of European cooperation. Prior to the TEU, one of the only forms of political unity in European political cooperation, mainly related to foreign policy, was “mutual information and consultation”. The Twelve, the Member States, would agree on the adoption of a “common position” on world events (Best in Laursen and Van

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