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ECB to redesign euro banknotes in inclusion effort -Breaking

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FRANKFURT (Reuters), – On Monday, the European Central Bank stated that they plan to redesign the euro’s banknotes within the next three year period to be more “relatively” to all Europeans.

The ECB announced that ECB focus group meetings will collect suggestions from public representatives in all 19 Euro-countries about the theme of new banknotes.

It will replace windows, doorsways, and bridges in different architectural styles which have been on the Euro’s banknotes ever since they were launched in 2002.

“After 20 years, it’s time to review the look of our banknotes to make them more relatable to Europeans of all ages and backgrounds,” ECB President Christine Lagarde said.

Original design meant unity and openness, but was abstract enough to not be traced to individual countries.

Many other Treasuries or central banks, however, have sought to place the emphasis on diversity & inclusion when creating new bills. For its $20 note the Federal Reserve selected Harriet Tubman (African-American anti-slavery crusader) as the Federal Reserve’s representative.

A group of experts representing each country in the euro zone will create a list of topics and present it to the ECB’s Governing Council. The public will be consulted before launching a competition.

Following this consultation and a second public discussion, the Governing Board will reach its final decision no later than 2024.

In 1996, Robert Kalina (Austria) won the last contest.

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