officially Treaty on European Union.
Agreement that established the European Union (EU) as successor to the European Community .
It bestowed EU citizenship on every national of its member states, provided for the introduction of a central banking system and a common currency (see euro ), and committed the member states to work toward a common foreign and security policy. Signed in 1991, it was ratified and took effect in 1993. See also European Court of Justice , European Parliament , Treaties of Rome .