ECB Unveils New Euro Banknote Designs Amid Digital Currency Plans
The European Central Bank (ECB) has unveiled new designs for euro banknotes as part of its first major revamp since the currency's introduction over two decades ago. ECB president Christine Lagarde presented 10 design options under two categories: 'European culture' and 'rivers and birds'.
Citizens in the eurozone can now vote on the options until September 21st, before the central bank's governing council makes a final decision 'around the end of the year'. The ECB initially proposed seven themes, but narrowed it down to two categories after surveying euro-area citizens.
The new designs aim to reflect European culture and history, replacing the current generic gates and bridges featured on existing banknotes. Work on the new paper money runs in parallel with preparations for a digital-euro introduction, which is set to begin in 2027 with a 12-month pilot phase.