The ECB will change the design of euro banknotes

 

20 years after the introduction of euro banknotes, the European Central Bank (ECB) has launched a process to redesign them. The bank will "work with European citizens in a process that should lead to a final decision in 2024", the headquarters in Frankfurt am Main announced, the Austrian public media ORF reports.

"In 20 years, it is time to take a closer look at the design of our banknotes and design them in such a way that Europeans, regardless of age or origin, can better identify with them," said ECB President Christine Lagarde.

  A multi-stage process is planned. In the first step, focus groups will be set up to obtain views from euro area people on possible topics for future euro banknotes. A thematic advisory group, representing an expert from each euro area country, will then propose to the Governing Council a choice of new topics.

The ECB will seek public opinion on selected issues. Then there will be a competition for the design of the new banknotes. Following the completion of the preparation process, the Governing Council will decide on the preparation of the new banknotes and the possible dates for their issuance.