Europa Series Introduction
The Europa series banknotes are to be introduced gradually over several years, in ascending order and starting with the new €5 banknote in May 2013. So the new €5 banknote will be followed by the €10.
Refreshed design, enhanced security
The new banknotes represent an evolution. They still feature the “ages and style” designs of the first series, but they have been modified slightly to accommodate the enhanced security features. This also helps to make the new banknotes easy to distinguish from the first series. An independent banknote designer based in Berlin, Reinhold Gerstetter, was selected to refresh the design of the euro banknotes. The denominations remain unchanged: €5, €10, €20, €50, €100, €200 and €500.
Easy to spot and more secure
The new security features of the Europa series are easy to locate on the banknotes and keep the new notes ahead of image reproduction technology.
The introduction of the Europa series of banknotes will differ from the euro changeover in 2002 for several reasons.
The various denominations are being issued at different points in time, so the introduction of the whole series will take several years, unlike the big-bang changeover which took place in 2002.
Given the gradual introduction of the new banknotes and the fact that each country has its own “cash cycle”, the speed of change will vary across the euro area. The time it takes for the new banknotes to displace the older ones will differ from one country to another. By autumn 2013 the new €5 banknotes are expected to outnumber those of the first series at the euro area level.
Parallel circulation, indefinite validity
In order to use up remaining stocks, in many euro area countries the €5 banknotes of the first series will be issued for several months alongside the new €5 banknotes. The two series will circulate in parallel as legal tender. The date when the first series ceases to be legal tender will be announced well in advance; however, the first series of banknotes will be exchangeable for an indefinite period of time at the Eurosystem NCBs.