Worth to know

Austria(German: Österreich), officially the Republic of Austria (German: Republik Österreich), is a landlocked country in Central Europe. It borders both Germany and the Czech Republic to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. The capital is the city of Vienna on the Danube River.

The origins of modern Austria date back to the ninth century, when the territory of Upper and Lower Austria became increasingly populated. The name "Ostarrichi" is first documented in an official document from 996. Since then this word has developed into the Österreich.

Austria is a parliamentary representative democracy comprising nine federal states[3] and is one of six European countries that have declared permanent neutrality and one of the few countries that includes the concept of everlasting neutrality in its constitution. Austria has been a member of the United Nations since 1955 and joined the European Union in 1995.

Currency

The euro (currency sign: €; currency code: EUR) is the official currency of 16 out of 27 member states of the European Union (EU). The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also used in a further five European countries, with and without formal agreements and is consequently used daily by some 327 million Europeans.

The name euro was officially adopted on 16 December 1995. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1. Physical coins and banknotes entered circulation on 1 January 2002.