Economy of Austria As a member of the economic and monetary union of the European Union (EMU), Austria's economy is closely integrated with other EU member countries, especially with Germany. On 1 January 1999, Austria introduced the new Euro currency for accounting purposes. In January 2002, Euro notes and coins were introduced, replacing those of the Austrian schilling. In Austria, Euros appear as 1999, however all Austrian euro coins introduced in 2002 have this year on it; unlike other countries of the Eurozone where mint year is minted in the coin. Eight different designs, one per face value, were selected for the Austrian
Language and the euro euro-cent is sometimes used in countries (such as Australia, Canada, and the United States) which also have "cent" as a currency subdivision, to distinguish them from their local coin. This usage, though unofficial, is mirrored on the coins themselves, which have the words "EURO" and "CENT" displayed on the common side. In Faroese (and Icelandic) the euro is called evra, a feminine noun derived from the Faroese name of Europe, "Evropa"; this makes Faroese (with Icelandic) one of only two European languages in which the word for the euro is feminine. The plural is formed regularly: evrur. The cents are