It was decided in January 1999 that 11 European Union (EU) countries, especially France and Germany, would use the single currency euo; Two years after this date, euro banknotes and coins were introduced in the EU countries where this currency is valid.
Now, the European Central Bank (ECB) has announced that it plans to redesign the euro notes, which have been used for more than 20 years. According to the statement made by the ECB, the ones to be used among the new euro designs that will be designed in a short time will be selected until 2024 and then put into use. There will also be a competition for euro designs.
19 EU countries use the euro
Exactly 19 of the 27 EU countries, Germany, Austria, Belgium, Estonia, Finland, France, Netherlands, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Portugal, Slovakia, Slovenia and Greece uses. The monetary policy of these 19 countries, also known as the Euro Zone, is governed by the Euro System, which is formed by the ECB and the central banks of the member countries.
The redesign of euro notes will begin with the establishment of groups tasked with gathering ideas from people living in the eurozone on potential themes for future banknotes. This process will be followed by the presentation of a short list of new themes to the ECB’s Governing Council, by an advisory group of experts from each eurozone country. Then, with the final decision of the ECB Governing Council, new banknotes will be printed.
In a statement on the decision, ECB President Christine Lagarde said: “After 20 years, it is time to review the look of our euro notes to make them more attractive to Europeans of all ages and backgrounds. ” he recorded.
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