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64-656: Until decentralisation on 11 June 1999, Wiener Linien was Wiener Stadtwerke – Verkehrsbetriebe , a directly administered subsidiary of the Vienna city government as they had been for over a hundred years. They are still under city control as part of the responsibilities of the City Administrator for Finance, Economics, Work, International affairs and Wiener Stadtwerke, currently Peter Hanke . As of 2009, Wiener Linien employ approximately 8,000 people and serve approximately 812 million passengers. Ridership numbers have climbed since

128-594: A budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which resulted in the introduction of the euro (see also United Kingdom and

192-510: A deadline to do so and can delay the process by deliberately not complying with the convergence criteria (such as by not meeting the convergence criteria to join ERM II). Bulgaria and Romania are actively working to adopt the euro, while the remaining states do not have a migration plan in progress. The euro is divided into 100 cents (also referred to as euro cents , especially when distinguishing them from other currencies, and referred to as such on

256-547: A foreign trading currency in Cuba since 1998, Syria since 2006, and Venezuela since 2018. In 2009, Zimbabwe abandoned its local currency and introduced major global convertible currencies instead, including the euro and the United States dollar. The direct usage of the euro outside of the official framework of the EU affects nearly 3 million people. Outside the eurozone, two EU member states have currencies that are pegged to

320-473: A number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro . The euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar . As of December 2019, with more than €1.3 trillion in circulation, the euro has one of

384-526: A permanently coupled twin railcar. A train was made up of three double cars. From 1987, SGP upgraded their cars' technical equipment, which included water-cooled three-phase motors, brakes with energy recovery and modernised emergency braking and safety equipment. In 2006, the U2 LED displays replaced the original in-and-out illuminated telltale displays. In addition, the trains were retrofitted with plastic seats, video surveillance and warning lights that had signalled

448-576: A result, U2 was extended to the Ernst Happel Stadium in 2008, to Aspernstraße in 2010, and finally to Seestadt on October 5, 2013. It has been proposed that the existing U2 line will be separated into two lines at Rathaus station. The section of the current U2 line from Rathaus to Karlsplatz will be upgraded to allow for driverless operation and become part of a new U5 line. A new U2 line will then be built, extending from Rathaus to Wien Matzleinsdorfer Platz railway station (for interchange with

512-655: A year. Vienna Linien bus routes are designated with A (for Autobus ) or B (for Bus ) to distinguish them at a glance from tram routes. About 55% of daytime bus routes are operated by sub-contractors on behalf of the Wiener Linien. In 2005, Wiener Linien received the negative Big Brother Award in the People's Choice category because of camera surveillance. 48°11′23″N 16°24′52″E  /  48.18972°N 16.41444°E  / 48.18972; 16.41444 Euro The euro ( symbol : € ; currency code : EUR )

576-557: Is 83.3 km (51.8 mi) long and has 109 stations: As of 2024 a sixth subway line [REDACTED] is under construction replacing the current line [REDACTED] from Karlsplatz to Rathaus, then continuing to a new station "Frankhplatz". The new line is scheduled to open in 2026. From 2026 until 2030 both lines [REDACTED] and [REDACTED] will serve the route between Rathaus and Karlsplatz. An expansion of line [REDACTED] to Matzleinsdofer Platz via Neubaugasse, Pilgramgasse, and Reinprechtsdorfer Straße, branching off from

640-583: Is a major donor to the EFSF. To be included in the eurozone, countries had to fulfil certain convergence criteria , but the meaningfulness of such criteria was diminished by the fact it was not enforced with the same level of strictness among countries. According to the Economist Intelligence Unit in 2011, "[I]f the [euro area] is treated as a single entity, its [economic and fiscal] position looks no worse and in some respects, rather better than that of

704-524: Is also the sole currency in three overseas territories of France that are not themselves part of the EU, namely Saint Barthélemy , Saint Pierre and Miquelon , and the French Southern and Antarctic Lands , as well as in the British Overseas Territory of Akrotiri and Dhekelia . The euro has been adopted unilaterally as the sole currency of Montenegro and Kosovo. It has also been used as

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768-615: Is being steadily expanded, and to a lesser extent the bus routes, especially in outlying areas of the city. U-Bahn ridership is likewise growing strongly, but in contrast tram ridership is slightly lower and there has been a reduction in tram mileage in recent years (from 231.4 km (143.8 mi) in 2004 to 227.3 km (141.2 mi) in 2007). The system is supplemented by 26 bus routes operated by subcontractors who also operate their own routes in and around Vienna. In addition there are 7 routes of Demand responsive transport . Wiener Linien services also connect to mainline ÖBB trains and

832-465: Is discouraged by the commission, as is the practice of certain shops of refusing to accept high-value euro notes. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These include both commonly issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, and nationally issued coins, such as

896-606: Is the official currency of 20 of the 27 member states of the European Union . This group of states is officially known as the euro area or, more commonly, the eurozone . The euro is divided into 100 euro cents . The currency is also used officially by the institutions of the European Union , by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia , as well as unilaterally by Montenegro and Kosovo . Outside Europe,

960-612: Is to be instituted in September 2010. Wiener Linien fares are integrated into the VOR ( Verkehrsverbund Ost-Region , East Region Transportation Association); their routes all lie within its core zone (Zone 100). Schoolchildren, students, the unemployed, and pensioners are served at considerably reduced prices. The Vienna U-Bahn has existed under this name since 1976, when the stretch of the 1898–1901 Vienna Stadtbahn (Vienna Metropolitan Railway) between Heiligenstadt and Friedensbrücke stations

1024-628: The Vienna S-Bahn ), via interchanges with the U3 at Neubaugasse and the U4 at Pilgramgasse , and then on to Wienerberg. In late 2017 it was announced that construction on the new line would start in 2018, with entry into service planned for 2024. The development of the cars of the U2 Trains was by Simmering-Graz-Pauker (SGP) in 1972. This unit had a two-axle motorcar, it was 36.8 metres long and 2.8 metres wide and

1088-487: The Vienna S-Bahn . Most daytime services run between 5:00 am and 0:30 am. During rush hours , many routes run at intervals of two to five minutes; during evening hours, the U-Bahn runs at 7 and a half minute intervals and trams and buses every ten or 15 minutes. Between 0:30 and 5:00 am, night bus routes run every 15 to 30 minutes. Following a February 2010 plebiscite , nighttime U-Bahn service on weekends at 15-minute intervals

1152-591: The dobra of São Tomé and Príncipe was officially linked with the euro. Additionally, the Moroccan dirham is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting. These countries generally had previously implemented a currency peg to one of the major European currencies (e.g. the French franc , Deutsche Mark or Portuguese escudo ), and when these currencies were replaced by

1216-501: The " eurozone ", some 347 million people in total as of 2023 . According to bilateral agreements with the EU , the euro has also been designated as the sole and official currency in a further four European microstates awarded minting rights (Andorra, Monaco, San Marino and the Vatican City). All but one (Denmark) current, and any potential future EU members, are obliged to adopt the euro when economic conditions permit. The euro

1280-413: The 1920s; they increased in importance after suburban development increased demand for transport connections and after many tram lines in densely built-up areas were replaced by bus service. Currently approximately 700 buses are in operation on 134 routes along (including night time routes) with a total length of approximately 885.5 km (550.2 mi), carrying approximately 166 million passengers

1344-507: The 1970s and now exceeds those of 2005 by approximately 60 million. The number of annual season ticket holders has risen to a new record of 334,577, of whom approximately one third are seniors. 24% of all passengers are schoolchildren. Sales rose slightly in 2004 to € 345.2. According to surveys, 36% of all journeys in Vienna are completed using public transport, which puts the city in first place in Europe. Since 2012, Wiener Linien has also pioneered

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1408-537: The ECB has sole authority to set monetary policy . The Eurosystem participates in the printing, minting and distribution of euro banknotes and coins in all member states, and the operation of the eurozone payment systems. The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria , although not all participating states have done so. Denmark has negotiated exemptions, while Sweden (which joined

1472-581: The ECB's banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the main refinancing rate of the ECB. The other 92% of euro banknotes are issued by the NCBs in proportion to their respective shares of the ECB capital key, calculated using national share of European Union (EU) population and national share of EU GDP, equally weighted. Member states are authorised to print or to commission bank note printing. As of November 2022 , these are

1536-419: The EU in 1995, after the Maastricht Treaty was signed) turned down the euro in a 2003 non-binding referendum , and has circumvented the obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined the EU since 1993 have pledged to adopt the euro in due course. The Maastricht Treaty was amended by the 2001 Treaty of Nice , which closed the gaps and loopholes in

1600-457: The European Union , the Latin alphabet version of euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). For the denominations except the 1-, 2- and 5-cent coins, the map only showed the 15 member states of the union as of 2002. Beginning in 2007 or 2008 (depending on

1664-466: The Maastricht and Rome Treaties. The 20 participating members are EU Outermost Regions : Overseas Territories : Special Autonomous Territories : Microstates with a monetary agreement: British Overseas Territory : Unilateral adopters: The following EU member states committed themselves in their respective Treaty of Accession to adopt the euro. However they do not have

1728-579: The Portuguese escudos , which ceased to have monetary value after 31 December 2002, although banknotes remained exchangeable until 2022. A special euro currency sign (€) was designed after a public survey had narrowed ten of the original thirty proposals down to two. The President of the European Commission at the time ( Jacques Santer ) and the European Commissioner with responsibility for

1792-478: The US or the UK" and the budget deficit for the euro area as a whole is much lower and the euro area's government debt/GDP ratio of 86% in 2010 was about the same level as that of the United States. "Moreover", they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies". The authors conclude that the crisis "is as much political as economic" and

1856-484: The United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own. The euro is the sole currency of 20 EU member states : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute

1920-464: The coin to commemorate the 2004 Summer Olympics issued by Greece. These coins are legal tender throughout the eurozone. Collector coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them. A number of institutions are authorised to mint euro coins: The design for the euro banknotes has common designs on both sides. The design

1984-469: The common side of all cent coins). In Community legislative acts the plural forms of euro and cent are spelled without the s , notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have a common side showing the denomination or value, and a map in the background. Due to the linguistic plurality in

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2048-668: The concept of the 365-Euro-Ticket , in this case valid within the Kernzone Wien des Verkehrsverbund Ost-Region (Vienna Core Zone of the Eastern Region Transport Association) for the general public. Passengers are represented by a Passenger Advisory Council and can make suggestions for improvements. Council members serve four-year terms. Wiener Linien operate bus and tram ( Straßenbahn ) surface routes, and partly underground, partly overground metro or underground train lines ( Vienna U-Bahn ). The U-Bahn network

2112-487: The country that issued the coin. Euro coins from any member state may be freely used in any nation that has adopted the euro. The coins are issued in denominations of €2 , €1 , 50c , 20c , 10c , 5c , 2c , and 1c . To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland (by voluntary agreement) and in Finland and Italy (by law). This practice

2176-449: The country), the old map was replaced by a map of Europe also showing countries outside the EU . The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the EU member states as of 2002, raised somewhat above the rest of the map. All common sides were designed by Luc Luycx . The coins also have a national side showing an image specifically chosen by

2240-455: The current route at Rathaus is currently under construction and scheduled to open in 2030. After this extension is built, line [REDACTED] will be replaced by line [REDACTED] between Rathaus and Karlsplatz. In the second construction stage [REDACTED] will be further expanded to Wienerberg and [REDACTED] will be expanded to Hernals via Michelbeuern-AKH. The Wiener Straßenbahn (Vienna tramway) has existed since 1865, when

2304-413: The day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. Between December 1999 and December 2002, the euro traded below the US dollar, but has since traded near parity with or above the US dollar, peaking at US$ 1.60 on 18 July 2008 and since then returning near to its original issue rate. On 13 July 2022, the two currencies hit parity for

2368-438: The door closing. An individual car consists of 49 seats and 91 standing spots. The line is, as of June 2019, operated with a mixture of the original trains and the newer Type V , with each train having 260 seats and 618 standing spots. In rush hour and during the night, the entire line is serviced by all trains; during all other operating hours, every second train terminates at Aspernstraße due to lower capacity utilization on

2432-537: The euro ( Yves-Thibault de Silguy ) then chose the winning design. Regarding the symbol, the European Commission stated on behalf of the European Union : The symbol € is based on the Greek letter epsilon (Є), with the first letter in the word "Europe" and with 2 parallel lines signifying stability. The European Commission also specified a euro logo with exact proportions. Placement of the currency sign relative to

2496-543: The euro ). The name "euro" was officially adopted in Madrid on 16 December 1995. Belgian Esperantist Germain Pirlot , a former teacher of French and history, is credited with naming the new currency by sending a letter to then President of the European Commission , Jacques Santer , suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between

2560-682: The euro , which is a precondition to joining the eurozone. The Danish krone and Bulgarian lev are pegged due to their participation in the ERM ;II . Additionally, a total of 21 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa ( CFA franc ), two African island countries ( Comorian franc and Cape Verdean escudo ), three French Pacific territories ( CFP franc ) and two Balkan countries, Bosnia and Herzegovina ( Bosnia and Herzegovina convertible mark ) and North Macedonia ( Macedonian denar ). On 1 January 2010,

2624-449: The euro their currencies became pegged to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation, and encourages foreign investment due to its stability. In total, as of 2013 , 182 million people in Africa use a currency pegged to

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2688-483: The euro, 27 million people outside the eurozone in Europe, and another 545,000 people on Pacific islands. U2 (Vienna U-Bahn) Line U2 is a line on the Vienna U-Bahn metro system. Opened in 1980, it currently has 20 stations and a total length of 16.7 km (10.4 mi), from Schottentor to Seestadt . It is connected to U1 at Praterstern and U4 at Schottenring . Since May 2021,

2752-421: The eurozone are also treated as domestic transactions; however paper-based payment orders, like cheques, have not been standardised so these are still domestic-based. The ECB has also set up a clearing system , TARGET , for large euro transactions. The euro was established by the provisions in the 1992 Maastricht Treaty . To participate in the currency, member states are meant to meet strict criteria , such as

2816-411: The first horsedrawn tram went into service; the first line was electrified in 1897. Originally operated by private transport firms, the tramway was purchased by the city government around 1900 and in the years that followed massively expanded under the name Gemeinde Wien - Städtische Straßenbahnen (Municipality of Vienna - City Tramways). Electrified at the city's expense, the trams were integrated into

2880-585: The first time in nearly two decades due in part to the 2022 Russian invasion of Ukraine . Then, in September 2022, the US dollar again had a face value higher than the Euro, at around US dollar 0.95 per euro. The euro is managed and administered by the European Central Bank (ECB, Frankfurt am Main ) and the Eurosystem , composed of the central banks of the eurozone countries. As an independent central bank,

2944-437: The highest combined values of banknotes and coins in circulation in the world. The name euro was officially adopted on 16 December 1995 in Madrid . The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$ 1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it

3008-548: The initial designs by Robert Kalina were of specific bridges, including the Rialto and the Pont de Neuilly , and were subsequently rendered more generic; the final designs still bear very close similarities to their specific prototypes; thus they are not truly generic. The monuments looked similar enough to different national monuments to please everyone. The Europa series, or second series, consists of six denominations and no longer includes

3072-680: The national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from several years to indefinitely (the latter for Austria, Germany, Ireland, Estonia and Latvia in banknotes and coins, and for Belgium, Luxembourg, Slovenia and Slovakia in banknotes only). The earliest coins to become non-convertible were

3136-554: The national currencies had to be carried out using the process of triangulation via the euro. The definitive values of one euro in terms of the exchange rates at which the currency entered the euro are shown in the table. The rates were determined by the Council of the European Union , based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit

3200-688: The numeric amount varies from state to state, but for texts in English published by EU institutions, the symbol (or the ISO -standard "EUR") should precede the amount. Following the U.S. financial crisis in 2008, fears of a sovereign debt crisis developed in 2009 among investors concerning some European states, with the situation becoming particularly tense in early 2010 . Greece was most acutely affected, but fellow Eurozone members Cyprus , Ireland , Italy , Portugal , and Spain were also significantly affected. All these countries used EU funds except Italy, which

3264-403: The printers: Capital within the EU may be transferred in any amount from one state to another. All intra-Union transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs. This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. Credit/debit card charging and ATM withdrawals within

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3328-502: The public; a design competition will also be held. Since 1 January 2002, the national central banks (NCBs) and the ECB have issued euro banknotes on a joint basis. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice,

3392-461: The result of a more streamlined network, there were new routes between U1, U2 and U4. In the 1960s and 1970s, U2 received a total of three new stations: Karlsplatz, Schottentor and Schottenring. On 30 August 1980, the U2 between Karlsplatz and Schottenring was opened, meaning the line was 3.5 kilometres in length. Between 1980 and 2008, the U2 remained by far the weakest busy line in the Vienna network. As

3456-455: The result of the fact that the euro area lacks the support of "institutional paraphernalia (and mutual bonds of solidarity) of a state". The crisis continued with S&P downgrading the credit rating of nine euro-area countries, including France, then downgrading the entire European Financial Stability Facility (EFSF) fund. A historical parallel – to 1931 when Germany was burdened with debt, unemployment and austerity while France and

3520-436: The section from Karlsplatz to Schottentor has been closed due to the construction of the not-yet-opened U5 . Since the closure, Line U2 only runs between Schottentor and Seestadt, totaling just 16 stations and losing its only connection to U3 at Volkstheater, as well as connections at Karlsplatz to U1 and U4. Line U2 serves the following stations: No service due to construction: Currently in service: The construction of

3584-464: The successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which

3648-405: The tram system in Vienna remains one of the most extensive in the world. Currently, 28 regular lines operate, with a total length of 229.8 km (142.8 mi). Further cutbacks are expected in the next few years as the U-Bahn continues to expand; however, extensions and new lines are also planned, above all in the 21st and 22nd districts . The Municipality of Vienna has operated bus lines since

3712-413: The transport network in 1925. Until construction of the U-Bahn, the trams were the primary mode of public transport in Vienna. After 1945, numerous tram lines were abandoned because of increasing use of private cars or converted to bus routes because of economic unviability. Beginning in 1978, in the course of construction of the U-Bahn, tram routes parallelling U-Bahn routes were discontinued. Nonetheless,

3776-429: The tunnel, which was later the centrepiece of the U2, was started in 1963. After the tunnel was completed in 1966 with a length of 1.8 kilometres, it ran from Vienna Secession to Friedrich-Schmidt-Platz . Soon after, the modern construction of Vienna's railway was built on the 3 November 1969. This consisted of the newly built U1 line, and two merged lines from a tram and old metro, of the line U2 and U4 respectively. As

3840-433: The €500 with issuance discontinued as of 27 April 2019. However, both the first and the second series of euro banknotes, including the €500, remain legal tender throughout the euro area. In December 2021, the ECB announced its plans to redesign euro banknotes by 2024. A theme advisory group, made up of one member from each euro area country, was selected to submit theme proposals to the ECB. The proposals will be voted on by

3904-560: Was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form ( traveller's cheques , electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became

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3968-496: Was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally pound sterling ) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different since the euro by then

4032-505: Was created by the Austrian designer Robert Kalina . Notes are issued in €500 , €200 , €100 , €50 , €20 , €10 , and €5 . Each banknote has its own colour and is dedicated to an artistic period of European architecture. The front of the note features windows or gateways while the back has bridges, symbolising links between states in the union and with the future. While the designs are supposed to be devoid of any identifiable characteristics,

4096-486: Was experimentally adapted and placed in operation as Line U4. The construction of a metro in Vienna had been preceded by decades of political debate, since the Social Democratic majority in Vienna had initially preferred other modes of transit. The first stretch of newly constructed U-Bahn rail was placed in operation in 1978 (U1 from Reumannplatz to Karlsplatz). The Vienna U-Bahn system currently consists of five lines,

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