The Maastricht Treaty was signed on February 7, 1992 for establishing the European Union which paved the means for the creation of the Euro currency and pillar structure of the European Union. It was drafted and signed by members included in the European Community at Maastricht located in Netherlands. It also tended to highly expand cooperation among European nations and was initially signed by 12 nations including France, Belgium, Ireland, Denmark, Greece, Italy, Netherlands, Spain, Luxembourg, Germany, the United Kingdom and Portugal.