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| | .: Reference :. Webscavengers.net |
 | | Once the center of power for the large Austro-Hungarian Empire, Austria was reduced to a small republic after its defeat in World War I. Following annexation by Nazi Germany in 1938 and subsequent occupation by the victorious Allies in 1945, Austria's status remained unclear for a decade. |
| | Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. |
| | To meet increased competition from both EU and Central European countries, particularly the new EU members, Austria will need to emphasize knowledge-based sectors of the economy, continue to deregulate the service sector, and encourage much greater participation in the labor market by its aging population. |
| www.webscavengers.net /modules/tinyd0/rewrite/factbook/print/au.html (1644 words) |
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