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ECB plans to redesign euros, decision expected in 2024

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The European Central Bank said on Monday that it plans to redesign its euro banknotes, with a final decision on the new look expected in 2024.

The euro was introduced as cash in 2002, with banknotes based on what the Frankfurt-based central bank for the 19-nation euro zone calls a theme of “time and style” – with common windows, doors and bridges from different eras. t represents any particular place or monument. They went through a relatively minor update during that time.

“After 20 years, it is time to review the look and feel of our banknotes to make them more relevant to Europeans of all ages and backgrounds.” ECB chairperson Christine Lagarde said in a statement.

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

The ECB said it would set up focus groups to gather comments from people across the continent on possible topics for future notes. Then, a “topical advisory group” with an expert from each eurozone country will submit a shortlist of proposed new topics to the ECB’s governing council.

The bank said it would solicit public input on the proposals, then hold a design competition for the new banknotes before soliciting public comment again. Its governing board will make the final decision and decide when new banknotes can be issued.

https://www.independent.co.uk/news/ecb-berlin-christine-lagarde-frankfurt-b1970422.html ECB plans to redesign euros, decision expected in 2024

JACLYN DIAZ

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