At the Maastricht Treaty of 1991,members of the European Community established a blueprint for an Economic and Monetary Union with a single currency and a European central bank overseeing a single monetary policy.

Question

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This is a true statement. The Maastricht Treaty, also known as the Treaty on European Union, established the framework for the creation of the European Union and its Economic and Monetary Union, which included the adoption of a single currency, the Euro, and the establishment of a European Central Bank to oversee monetary policy. The treaty was signed in 1991 and entered into force in 1993.