Euro Banknotes Set for 1st Redesign in Two Decades

Euro banknotes are facing a redesign for the first time since their launch two decades ago, with a plan to make the currency ‘more relatable to Europeans of all ages and backgrounds’.

The European Central Bank (ECB) has announced the rationale and plans for the redesign, working with European citizens in a process that is expected to lead to a final decision in 2024. This will be the first major redesign since the launch of the euro banknotes in 2002.

According to the ECB website, the redesign process will start with the creation of focus groups, tasked with gathering opinions from people across the euro area on possible themes.

A theme advisory group, with one expert from each euro area country, will then submit a shortlist of new themes to the ECB’s Governing Council. The members of the advisory group have already been appointed by the ECB based on proposals from euro area national central banks, and are drawn from a variety of fields such as history, natural and social sciences, the visual arts and technology.