The European Central Bank has taken another step forward in the redesign of the new euro banknotes that will be printed in the European Union. Although more and more people are choosing digital payments or bank transfers, cash remains a fundamental component of the economy. Therefore, redesigning banknotes and printing them continues to be a necessary and strategic task for governments and banks. The Governing Council of the European Central Bank has already decided on the new design of future euro banknotes, which will belong to the third series printed in the European Union. However, despite the design choices, the process is a long one.
What will the new banknotes look like?
‘The new banknotes will symbolise our common European identity and the diversity that makes us strong,’ said Christine Lagarde, President of the European Central Bank. The ECB has already selected the two possible themes that will be included in the new banknotes to be printed.
The decision on the design is based on consultations with over 365,000 Europeans, as well as focus groups and multidisciplinary groups from across the euro area. This measure is intended to ensure that the design chosen represents as many people living in Europe as possible.
The two themes selected are, on the one hand, European culture, which recalls famous European figures and our common heritage, and, on the other hand, rivers and birds, which focus on the resilience and diversity of the natural world, complemented by the European institutions.
Banknote design
In 2025, the European Central Bank will launch a design competition open to creative minds and designers from the European Union. Then, in 2026, the designs will be presented to the public to determine the people’s favourite proposals.
Finally, the Governing Council will take the final decision on the final design of the banknotes. However, it will be several years before they are produced and put into circulation.
How many series of banknotes are there?
At present, there are only two different series of euro banknotes, and with this new series there will soon be three. It is becoming increasingly rare to find banknotes from the first series, the oldest ones, as they have been gradually replaced, but those in circulation remain valid.
The first series of banknotes was issued in 2022 and coincided with the launch of the euro. Seven different denominations were printed: €5, €10, €20, €50, €100, €200 and €500.
The second series of banknotes is also known as the “Europa series” and was introduced gradually from 2013, when the €5 banknotes were issued, until 2019, when the series was completed with the €100 and €200 banknotes.
Unlike the first series, the Europa series consists of only six denominations because it was decided not to issue €500 banknotes. It is known as the “Europa series” because of Princess Europa, a character from Greek mythology.
