European Central Bank calls on citizens to reinvent cash

The European Central Bank is working on the upcoming launch of new banknotes. The financial institution considers this project important enough for European citizens to participate.

The ECB wants to integrate Europeans into the project for new banknotes

Involving European citizens in its project to issue new banknotes… This is the ambition that the European Central Bank (ECB) is now pursuing. Tuesday, July 11, the financial institution issued a press release on this subject.

The document specifies the reasons underlying this approach, explaining what is expected of citizens. “We want Europeans to identify with the design of euro banknotes, so they will play an active role in selecting the new theme”said Christine Lagarde, President of the ECB.

According to the latter, there would be a link between European identity and its currency. The ECB’s initiative aims to highlight this intimate link. A means of proposing, moreover, a solution to fight against acts of counterfeiting, among others.

In concrete terms, European citizens are therefore invited to choose the theme which will serve as the effigy of the new euro banknotes. Thus, seven themes are proposed to them. These are in particular European culture”, “European values ​​reflected in nature”.

There are also other themes such as: “we are building Europe”,“the future belongs to you”, “free, resilient, inspiring birds”. The latest are: “Rivers: the waters of life in Europe” And“our Europe, ours”.

Citizens have until August 31 to express their preference on a number of pre-selected themes. The operation will be carried out by answering a survey available on the ECB’s website.

The results from this survey will be used by the ECB to choose the image for the next generation of banknotes. The disclosure of this should take place in 2026, at the end of a design competition organized for this purpose.

For Fabio Panetta, member of the Executive Board of the ECB, this signals the institution’s attachment to cash. A way she wants to keep as an always-available payment option.

Still, the ECB seems to be attaching its plan to implementing a CBDC. A project which, for the moment, is struggling to get through to citizens because of the risks of generalized control it entails.