The European Central Bank (ECB) announced on Monday plans to redesign the Euro banknotes that will be introduced by 2024. Furthermore, the possible designs will be published beforehand for the public to help choose.
For the last two decades, the notes' designs were based on an “ages and styles” theme, represented by windows, doorways and bridges. However, the ECB wants the new legal tender to be more representative of all eurozone countries. As part of this drive to print innovative and secure banknotes that connect with Europeans, the bank wants citizens to have a say on the new themes.
"Euro banknotes are here to stay. They are a tangible and visible symbol that we stand together in Europe, particularly in times of crisis, and there is still a strong demand for them," said ECB President Christine Lagarde.
"After 20 years, it’s time to review the look of our banknotes to make them more relatable to Europeans of all ages and backgrounds."
?We’re planning to redesign euro banknotes! Almost twenty years have passed since euro banknotes entered into circulation. We will soon launch the redesign process and expect to select new banknote designs by 2024. Press release https://t.co/a0FD2foa01 1/3 pic.twitter.com/yMsCkumPWD— European Central Bank (@ecb) December 6, 2021
This next generation of banknotes will supersede the original designs introduced in January 2002, when the unifying currency first became a reality.
An advisory group, with an expert working in fields ranging from history, natural and social sciences to the visual arts and technology and appointed per country, will then propose a shortlist. Photographer Stephan has been chosen to shortlist Belgium's entries.
A collaborative process
Following the proposals from the advisory group, the ECB will once again call on the public to get their input on the shortlisted themes. A design competition for the new banknotes will follow, after which the ECB will again consult the public.
The Governing Council will take the final decision on who or what will be shown on the banknotes, which is expected to be announced by 2024 – by which time Croatia and Bulgaria will have also adopted the Euro – and will then decide on when they will be rolled out.
Although banknotes have been upgraded since 2002 to make them more durable and secure, this is the first time they will be redesigned completely.
The Euro is the official currency in 19 countries, covering a total of around 340 million people.