What should the new euro banknotes look like?

The custodians of the euro want to involve people in the single currency area in designing new euro banknotes.

“Our single currency and our common European identity are inextricably linked,” said Christine Lagarde, President of the European Central Bank. “We want people in Europe to be able to identify with the design of the euro banknotes. That is why they will be actively involved in choosing the new theme.”

Seven themes to choose from

There are seven different themes to choose from, including European culture, birds as a symbol of unrestricted mobility, rivers or hands. In parallel with the survey on the ECB website, a polling institute is conducting a representative survey in the Eurozone on proposed topics on behalf of the Central Bank.

In December 2021, the European Central Bank began a process to redesign the notes. Central banks regularly develop new series of banknotes to make counterfeiting more difficult. The European Central Bank also wants to reduce environmental impact. For example, bills should have a longer life. “The stated aim is to prevent counterfeiting and reduce the environmental impact of banknotes,” explained ECB Executive Board member Fabio Panetta.

New scan planned on design

However, it will still be a few years before people hold new banknotes in their hands. The ECB’s Governing Council intends to define the theme for the next generation of banknotes by 2024. After that, a competition for the design will be held. Then the citizens should be asked again for their opinions. The central bank is expected to make a decision on the future design and timing of production and issuance of new banknotes in 2026. Experience has shown that it takes two to three years for new banknotes to enter circulation.

Unlike previous national currencies, the motifs on current euro banknotes are relatively sober: buildings that don’t really exist. The first euro banknotes were released on January 1, 2002. Since May 2019, the second generation of euro banknotes has been completed with new security features.

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