Which of the following laid the foundations of the European Union?

Maastricht Treaty.

The correct answer is Option 1 - Maastricht Treaty.

The collapse of the Soviet bloc put Europe on a fast track and resulted in the establishment of the European Union in 1992. The Treaty of Maastricht was signed on 7 February 1992 establishing the European Union (EU). The foundation was thus laid for a common foreign and security policy, cooperation on justice and home affairs, and the creation of a single currency. The European Union has evolved over time from an economic union to an increasingly political one. The EU has started to act more as a nation state. While the attempts to have a Constitution for the EU have failed, it has its own flag, anthem, founding date, and currency.