Skip to Content, Navigation, or Footer.
Sunday, May 5
The Indiana Daily Student

world

Germany introduces new Euro

FRANKFURT, Germany -- Copies of Europe's colorful new Euro bills, each two stories high, rippled in the breeze above Frankfurt on Thursday as the European Central Bank unveiled its design for the notes that will replace 12 national currencies next year. \n"With the new single currency the people of Europe have one more fundamental thing in common, their money," bank President Wim Duisenberg said during a packed ceremony at Frankfurt's opera house. \nTwelve clear stars with the bills sandwiched inside were lowered from the ceiling, and large plastic sheets were lowered to reveal the giant replicas draped from the central bank's nearby headquarters. \nDuisenberg has promised the bills will be the most sophisticated in the world. \nThe bank, which governs monetary policy for the 12 nations, has kept the new cash under wraps for so long in part to give counterfeiters as little time as possible to unravel security features. The new currency begins circulating Jan. 1. \nThe features unveiled Thursday include synthetic security strips, a cotton-based paper used only for the bills, raised printing, watermarks and an iridescent hologram strip that will carry the denomination and the euro symbol. \nThe bills have large numbers and increase in size the higher their denomination, in part to help the blind. They feature windows and gateways on one side to represent openness, and they carry bridges on the reverse side, a symbol of cooperation. \nThey carry Duisenberg's signature and the bank's initials, but lack any national symbols, unlike euro coins. \nThe notes will be issued in denominations of 5, 10, 20, 50, 100, 200 and 500 euros starting Jan. 1. They are being printed in 15 different locations across the euro zone. \nThursday's launched kicked off the last stage of an information campaign meant to boost acceptance of the new money. \n"The euro is much more than a common currency," Duisenberg insisted. "It is a symbol of European integration"

Get stories like this in your inbox
Subscribe