History of the Netherlands The post-war years saw rapid economic recovery (helped by the American Marshall Plan), followed by the introduction of a welfare state during an era of peace and prosperity. The Netherlands formed a new economic alliance with Belgium and Luxembourg, the Benelux, and all three became founding members of the European Union and NATO. In recent decades, the Dutch economy has been closely linked to that of Germany, and is highly prosperous. The four countries adopted the Euro on 1 January 2002, along with eight other EU member states. The prehistory of the area that is now the Netherlands was largely
Austrian Netherlands Austrian Netherlands The Austrian Netherlands (; ; ; ) was the larger part of the Southern Netherlands between 1714 and 1797. The period began with the acquisition of the former Spanish Netherlands under the Treaty of Rastatt in 1714 and lasted until its annexation during the aftermath of the Battle of Sprimont in 1794 and the Peace of Basel in 1795. Austria, however, did not relinquish its claim over the province until 1797 in the Treaty of Campo Formio. The Austrian Netherlands was a noncontiguous territory that consisted of what is now western Belgium as well as greater Luxembourg, bisected