Delors III Commission

The Delors Commission held office from 6 January 1985 until 23 January 1995. It oversaw important budgetary reforms and gave new momentum to the process of European integration, notably presiding over the signature of the Single European Act in February 1986. Jacques Delors and his commissioners are considered as the "Founding Fathers of the Euro". They also completed the foundation of the Economic and Monetary Union (EMU) established by the Treaty of Maastricht (1992). The end of its mandate was marked by the EU's third enlargement: in 1995, the EU-12 welcomed three new Member States (Austria, Finland and Sweden).