Economy of Liechtenstein
The economy of Liechtenstein is based roughly equally on services (especially financial services) and industry, with a small but significant agricultural sector. The country participates in a customs union with Switzerland and uses the Swiss franc as its national currency. It imports more than 85% of its energy requirements. Liechtenstein has been a member of the European Free Trade Association (EFTA) since 1991 (previously its interests had been represented by Switzerland). It also has been a member of the European Economic Area (EEA) since May 1995 and participates in the Schengen Agreement for passport-free intra-European travel.
Cupronickel
In Europe, Switzerland pioneered the nickel "billon" coinage in 1850, with the addition of silver. In 1968, Switzerland adopted the far cheaper 75:25 copper to nickel ratio then being used in Belgium, the United States, and Germany. From 1947 to 2012, all "silver" coinage in the UK was made from cupronickel, but from 2012 onwards the two smallest cupronickel denominations were replaced with lower-cost nickel-plated steel coins.