European Central Bank Plans First Euro Banknote Redesign in 23 Years

Overview

• The European Central Bank (ECB) is preparing to revamp euro banknotes for the first time since their introduction in 2002.
• Two design themes are under consideration: 'iconic European personalities' such as Beethoven and Marie Curie, or 'rivers and birds' showcasing Europe's natural ecosystems.
• The redesign process began in 2021 and has included public input and advisory group consultations, with final designs expected to be selected in 2026.
• Criticism has emerged over the cultural figures theme, as only six of the eurozone's 20 countries are represented in the proposed list of personalities.
• The new banknotes, which aim to be more relatable and representative of European identity, are anticipated to enter circulation several years after the design selection.