The completion of monetary integration in those 12 countries, as mapped out in the Maastricht Treaty, truly represents a culminating point in the process of European integration. With the use of euro cash, the single European currency has finally become a tangible reality for the citizens of the euro area - part and parcel of their everyday lives.
It is gratifying to note that this historic cash changeover was completed most successfully with the broad - and often enthusiastic - support of the European citizens, including the people of Austria, of course. With the introduction of the euro, the economic weight of this single market has risen to a level matching that of the USA.