By 2024, the design of our 5, 10, 20, 50, 100, 200 and 500 euro banknotes could be modernized by the European Central Bank (ECB).
"
After twenty years [first coins in circulation in 2002], it is time to review the appearance of our banknotes, so that Europeans of all ages and from all walks of life can feel closer to them
", considers its president Christine Lagarde in a press release from the independent institution.
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Before a possible decision is taken, the ECB will probe the Europeans.
After that, an advisory group made up of an expert from each country in the euro zone will submit a list of selected themes to the Board of Governors (history, natural and social sciences, visual arts and technology), which is the ultimate decision-maker.
A graphic design competition must also be organized.
But for now it is difficult to know if faces will adorn the tickets.
“
Anything is possible,
” comments the ECB to
Le Figaro
.
Fiduciary strategy
"
Despite the increase in cashless payments during the pandemic, the demand for banknotes and coins has increased, reflecting the essential role they play as a store of value
."
This is the very heart of the Eurosystem's fiduciary strategy (European Central Bank and national central banks): guaranteeing the accessibility and acceptability of coins and banknotes.
This “facelift” comes as the Eurosystem is considering launching a digital euro, “
the equivalent of euro banknotes, but in dematerialized form
”.
This digital euro would be free and accessible to individuals and businesses.
