Final answer:
The statement that the European Union was established in 1993 is true. It evolved from the European Economic Community, with the Maastricht Treaty marking its creation and setting the stage for increased economic and political integration among European nations.
Step-by-step explanation:
The statement that the European Union was established in 1993 is true. The EU grew from a 1957 trade agreement that led to the formation of the European Economic Community (EEC) with members like France, Belgium, and Germany.
The Maastricht Treaty in 1993 transformed the EEC into the EU, adding several more countries and creating an economic and political union with various aims, including a common currency (the euro), free movement of goods, labor, and capital, and common policies.
However, not all EU members adopted the euro, with countries like the UK and Sweden keeping their currencies, the Pound Sterling and the Krone respectively. The EU has expanded over time, seeing Eastern European nations join in the early 2000s, and at its peak included 28 member nations before the UK's exit in 2020.
The EU's objectives also involve eliminating trade barriers and enhancing mobility across member states. The economic integration and political cooperation serve as a significant force in European relations and global economics, embodying the collaborative spirit idealized after World War II to prevent further conflict.