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ECB unveils launch of new euro banknotes in May

08 November 2012, 16:47 CET
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(FRANKFURT) - The European Central Bank announced Thursday that it will launch a new series of euro banknotes gradually over the coming years, starting with a new five-euro note in May 2013.

ECB chief Mario Draghi told a news conference here that the current notes, launched on January 1, 2002, would be gradually withdrawn from circulation.

"The European Central Bank and the national central banks of the eurosystem are to introduce a second series of euro banknotes. Called the 'Europa' series, it will include a portrait of Europa -- a figure from Greek mythology and the origin of the name of our continent -- in the watermark and the hologram.

"The new banknotes will be introduced gradually over several years, starting with the five-euro banknote in May 2013," Draghi said.

The new series would benefit from advances in banknote technology since the first series was introduced more than ten years ago. Its security features have been enhanced, the ECB said.

The new banknotes would have the same colours and sames denominations as the the current ones -- five, 10, 20, 50, 100, 200 and 500 euros -- but would be "easy to distinguish from the first series."

They would be introduced in ascending order, so that after the five-euro note, the 10-euro bank would follow.

Initially, the first series would circulate alongside the new banknotes, but old notes will gradually be withdrawn and eventually cease to be legal tender.

The date for this would be announced "well in advance."

However, the banknotes of the first series would retain their value indefinitely and can be exchanged at the eurosystem national central banks at any time.

The new five-euro notes would be unveiled in full on January 10 2013 and banks would start to issue the new notes over the counter or via cash dispensers in May next year, the ECB said.


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Mr Draghi

Posted by Graziella Robbins at 10 November 2012, 10:50 CET
I want to congratulate Mr Draghi on his comments in the Wall Street Journal regarding the employment of women in top jobs and I quote " European Central Bank President Mario Draghi took a major leap forward in promoting women in top positions at the ECB Thursday: he put one on new bank notes." Women are superb in top jobs. As a woman in a key position in what used to be a mans world I also congratulate the German Schaeffler Group, headed by the magnificent Marie-Elisabeth Schaeffler. I see they are currently expanding their Hungarian factory over the next year or so and will be providing jobs for an additonal 700 people and no surprise here, two of the top jobs have gone to women, namely Mathe Agnes as Purchasing Manager and Rita Kenyeres as Personnel Manager. When important people/companies like this appreciate and take advantage of our talents, I salute them and I look forward to a more secure euronote, which I have to say, is not before time..