At a glance
Austria has been a member of the euro area since 1 January 1999. Euro banknotes and coins were introduced on 1 January 2002. Until that date the euro was the official currency but only existed as 'book money'. The euro replaced the Austrian schilling (ATS) at a conversion rate of EUR 1 = ATS 13.7603.
Austria is represented by Werner Faymann, Federal Chancellor, Federal Chancellor, at Euro Summit meetings and by its Minister for Finance, Maria Fekter, at Eurogroup meetings.
- Adoption of the euro: 01/01/1999
- Former currency: Austrian schilling (EUR1 = ATS13.7603 )
- GDP per capita (current prices): €35 700 (2011 - Eurostat)
- Number of votes at the Council of the EU: 10
- Member of the Schengen area: Yes
- Official languages: German (de)
Austria is composed of nine federal provinces.
Austria has a bicameral parliamentary system. The Parliament (Bundesversammlung) is composed of the National Council (Nationalrat) and the Federal Council (Bundesrat).
The National Council has 183 members who are elected for five years. The Federal Council has 62 members appointed by the provinces for the duration of the legislative period in the province concerned. Each province appoints between 3 and 12 members depending on the size of its population.
- Political system: federal republic
- Voting age: 16, voting not compulsory
- National day: 26 October (adoption of Austria's Law of Neutrality – 1955)