After twenty years of circulation, euro banknotes are changing their design, taking care of the safety of citizens and protecting them from counterfeits.
The European Central Bank is promoting the resumption of the issuance of euro banknotes. This change will be made in collaboration with the European Central Bank and European citizens in the context of a process that is expected to lead to a final decision in 2024. The banknote redesign process will begin with the creation of targeted working groups that will collect (and take into account) the views of citizens of all countries of the eurozone in connection with the release of new banknotes.
An advisory group, composed of experts from each country in the euro area, will present a list of proposals to the governing council of the ECB. The members of this group have already been appointed by the ECB on the basis of proposals from the national central banks of the euro area and represent various fields such as history, natural and social sciences, visual arts and technology.
ECB will consult with the public
Kostas Varotsos, artist and professor at the Faculty of Architecture at the Aristotle University of Thessaloniki, was chosen to represent Greece.
Today’s designs for euro banknotes are based on the theme “Εποχές και ρυθμοί” and depict windows, gates and bridges.
“Euro banknotes remain forever. They are a tangible and visible symbol of unity in Europe, especially during the crisis, and the demand for them remains high, ”said ECB President Christine Lagarde. “After 20 years, the time has come to rethink the appearance of banknotes and bring them closer to Europeans of all ages and backgrounds,” she added.
After the advisory committee has presented its proposals, the ECB will consult with the public on the proposed issues. This will be followed by a competition for the design of new banknotes, after which the ECB will again conduct a public consultation. After that, the board of directors will make the final decision.