!!!Euro

Euro, common currency of the member countries of the Economic and 
Monetary Union (Austria, Belgium, Finland, France, Germany, Ireland, 
Italy, Luxembourg, Netherlands, Portugal and Spain), introduced on the 
basis of the Treaty of  Maastricht (1992) as from January 1, 1999, 
initially only as deposit money and accounting unit (replacing the  
Ecu); Euro coins and notes will first be issued on January 1 2002 (1 
Euro = 100 Euro-Cents). The  Schilling exchange rate was set at 1 Euro 
= ATS 13,7603  on December 31, 1998. The conduct of the monetary 
policies of the Economic and Monetary Union was entrusted to the  
European Central Bank in 1998. This has led to a number of changes in 
Austria, including a modification of the competences of the Austrian  
Nationalbank.

!Literature
Duden-Redaktion (Ed.), Der Euro, 1998.


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