Now the motto ... well, my Latin is rusty but A.E.I.O.U. (the five vowels of the Latin alphabet) have been in use, in various meanings, for several centuries in the Habsburg (Austrian-Hungarian) empire. Seems that "Austria Europa in orbe ultima" is a modern/European variation on "Austria erit in orbe ultima", see http://en.wikipedia.org/wiki/A.E.I.O.U. For some reason (but apparently no particular one :) ) the designer used two different styles for the uppercase A.
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