magyar→Magyarország, német→Németország, osztrák→Ausztria? ... I know it comes from Latin, but it's so random. It's still called Osztrák Köztársaság, and if you were to say Osztrákország, people would still understand what you mean, right?
But the name of the country is Ausztria, not Osztrákország. (If you say it, people will probably understand it and see it as you made a pun... . Ok, I found some google hits for Osztrákország, but it is still rare. )