With economic ties becoming stronger and with the process of European integration gaining speed, the realization that Austria could not afford to remain on the political sidelines finally clinched the breakthrough to EU membership in 1995. Austria thus achieved its goal of having a say in EU development rather than being a mere observer.
This principle manifests itself best in Economic and Monetary Union, the area in which European integration has progressed furthest, in that every member of the Governing Council of the ECB participates in the monetary policy decisions of the Council according to the "one person, one vote" formula.