The European Central Bank plans to redesign the euro banknotes · TheJournal.ie

The European Central Bank (ECB) has revealed plans to redesign its euro banknotes, with a final decision on the new format expected in 2024.

The euro was introduced in monetary form in 2002, with paper currencies based on what the central bank in Frankfurt calls the 19-nation eurozone the theme of « ages and patterns » – with windows, entrances, and public bridges from different eras that do not. Represent any specific place or monument.

They’ve only undergone one relatively minor update at the time.

“After 20 years, it is time to revise the appearance of our banknotes to make them more relevant to Europeans of all ages and backgrounds,” said Christine Lagarde, President of the European Central Bank.

She said euro banknotes « are a tangible and visible symbol that we stand together in Europe, especially in times of crisis, and there is still strong demand for them. »

The European Central Bank said it will form focus groups to gather opinions from people across the continent on potential topics for future observations.

A Topic Advisory Group with one expert from each eurozone country will present a short list of proposed new topics to the ECB Governing Council.

The bank said it would seek public input on the proposals, then hold a competition to design the new banknote before consulting the public again.

Its board of directors will make a final decision and decide when the new banknotes will be issued.