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This is when the redesign of the Euro cardholder will take place!

This is when the redesign of the Euro cardholder will take place!

The European Central Bank (ECB) will choose a new design for euro banknotes by 2024. The eurozone currency was first introduced in 1999, with coins and banknotes launched in 2002.

"After 20 years, it is time to rethink the look of our banknotes to make them more relevant to Europeans of all ages and backgrounds," ECB President Christine Lagarde said in a statement.

They are a tangible and visible symbol that we stand together in Europe, especially in times of crisis.

The Frankfurt-based bank will set up focus groups to gather opinions from people across the area where the euro is used on potential options for future banknotes.

An advisory group with an expert from each eurozone country will then present a list of new topics on Euro design. Experts come from areas such as history, natural and social sciences, visual arts and technology.

The Bank will then call on the public for their contribution to the selected topics.

The Governing Council of the ECB will make a final decision before the new banknotes are issued.

"We want to develop euro banknotes with which European citizens can identify and be proud to use them as their own money," ECB Executive Board member Fabio Panetta said in a statement.

"The process of redesigning euro banknotes will go hand in hand with our investigation into a digital euro. Both projects aim to fulfill our mandate to provide safe and secure money for Europeans."

A spokeswoman told Euroneas that this was the first complete redesign of two-euro banknotes in two decades.

"Since the launch of the euro banknotes, this is the first time we are starting the process of redesigning the euro banknotes," she said.

"Previously, with Europa Series 2, we refreshed the design just to accommodate a number of new and improved safety features, which will also make it easy to distinguish between the two existing series."