EURO AREA TO ISSUE NEW 10 EURO BANKNOTE

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The new 10€ banknote will start circulating across the euro area on in September.

It will be the second banknote in the Europa series and, like the 5€, will incorporate several new security features which aim to maintain the trust that 334 million people across the euro area have in their money.

The new series includes a portrait of Europa – a figure from Greek mythology and the origin of our continent’s name – in the hologram and the watermark. In addition, like the first series, which was issued in 2002 and is still in circulation, the new series shows architectural styles from different periods, as well as bridges and a map of Europe, all intended to symbolise how the currency brings people together.

18 countries in the European Union now use the euro.

There are over 15 billion euro banknotes currently in circulation with a combined face value of over €900 billion. Upgrading the notes takes considerable time and effort, and represents a major investment in maintaining public confidence in the currency. To make the notes even more resistant to counterfeiting, the European Central Bank and the national central banks have invested in new technologies to improve their durability and thus extend their lifespan, and to modernise the security features. In addition to the portrait of Europa in the hologram and the watermark, the notes include an emerald number which changes colour from emerald green to deep blue when tilted.

Over time, the Eurosystem – that is, the Ecb and the euro area national central banks – will gradually upgrade all the euro banknotes. The first banknote in the new series – the 5€ – was issued on 2 May 2013. The new 10€ note was unveiled at the European Central Bank on 13 January 2014 by Yves Mersch, a member of the ECB’s Executive Board.

Filed under: http://www.theleader.info/article/42266/

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