The European Central Bank has presented ten design options for future euro banknotes. They are grouped into two thematic series — "European Culture" and "Rivers and Birds", writes Bloomberg.
ECB President Christine Lagarde announced that residents of euro area countries can vote for their preferred design until September 21. After the voting concludes, the ECB Governing Council plans to make a final decision around the end of the year.
This will be the first major update of euro banknotes since the euro was introduced into circulation more than twenty years ago. The design of banknotes in the currency union, which unites 21 countries, has always been a sensitive topic, as the use of national symbols could cause disputes. Therefore, modern banknotes depict conditional bridges, windows, and gateways that do not replicate real architectural monuments.
According to Christine Lagarde, euro banknotes are not only a means of payment but also one of Europe's most recognizable symbols.
Work on the new paper money is being carried out simultaneously with preparations for the launch of the digital euro. In addition to a new artistic design, the banknotes will also receive modern anti-counterfeiting elements.
The renewal project was launched back in 2021. Initially, seven different themes were considered, but after a survey of eurozone citizens at the end of 2023, only two were left — "European Culture" and "Rivers and Birds".
The exact timelines for the appearance of the new banknotes have not yet been named. After the winning design is chosen, it will still be finalized, verified, and only then will new money begin to be printed, which will gradually enter circulation in the coming years.
Similar discussions about the design of national currencies are taking place in other countries. For example, the Bank of England recently invited citizens to choose images of wildlife representatives who could, in the future, replace historical figures on banknotes, including Winston Churchill, Jane Austen, artist Joseph Mallord William Turner, and mathematician Alan Turing.
In addition, in Switzerland, a referendum supported the decision to enshrine in the Constitution the right to use cash, to guarantee the preservation of banknotes and coins as a full-fledged means of payment.
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