The European Central Bank (ECB) is planning to redesign euro banknotes to make them more secure, sustainable, and inclusive, according to the central bank. The new series aims to include advanced security features, more durable materials to provide a longer lifespan, and elements that are more accessible to everyone, including the visually impaired.
The ECB has opened 10 design proposals for the third generation of euro banknotes to public consultation. These designs are based on two themes: 'European culture' and 'birds and rivers.'
After 20 years, it is time for our banknotes to become more meaningful for all Europeans.
ECB President Christine Lagarde stated that the design of euro banknotes symbolizes European integration. The ECB says the primary reason for preparing this new series is to strengthen protection against counterfeiting.
Denominations and circulation
The ECB plans to preserve the 5, 10, 20, 50, 100, and 200 euro denominations in the new series.
The ECB Governing Council is expected to select the final design by the end of the year, taking into account public feedback and expert evaluations. The new banknotes are expected to enter circulation following a preparation process lasting several years.
The euro is used as the official currency in 21 of the 27 EU member states. The currency is the world's second most important reserve currency after the US dollar, accounting for approximately 20 percent of international reserves.
Number of people who use the euro
The euro entered into force as book money on January 1, 1999, and began being used in daily life as banknotes and coins on January 1, 2002. The ECB, which is headquartered in Frankfurt, Germany, defines its mission as ensuring price stability in the Eurozone.
Previously, the 'Europa' series, featuring more advanced security features against counterfeiting, was introduced between 2013 and 2019. In 2019, the issuance of the highest value 500 euro banknotes was stopped due to the fight against terrorism financing and money laundering.
Total value of more than 30 billion euro banknotes in circulation
