Using euro banknotes and coins the experience of

Using euro banknotes and coins: the experience of the first three years Antti Heinonen 14 March 2005 12/23/2021 1

Agenda • Developments in the circulation of euro banknotes • Evaluation of the counterfeit situation • Plans for a new euro banknote series • Future accession to the euro area 12/23/2021 2

Value of banknotes in circulation between 1999 and 2005 (EUR billions) 12/23/2021 3

Total number of euro banknotes in circulation between 2002 and 2005 (billions of pieces) 12/23/2021 4

Euro banknotes in circulation between 2002 and 2005 (billions of pieces) 12/23/2021 5

Value of euro coins between 2002 and 2005 (EUR billions) 12/23/2021 6

Total number of euro coins in circulation between 2002 and 2005 (billions of pieces) 12/23/2021 7

Euro coins in circulation between 2002 and 2005 (billions of pieces) 12/23/2021 8

Number of euro banknote counterfeits recovered from circulation between 2002 and 2004 12/23/2021 9

Responses to major counterfeiting threats • Communication / training measures • Increase in police activity • Upgrading the banknotes 12/23/2021 10

Future upgrading of euro banknotes • “Evolution” not “revolution” • The design will be based on the current artistic concept • The note coin boundary will be retained • The transition will be gradual • The launch will interlace with future accession to the euro area 12/23/2021 11

Future accession to the euro area • Determination of the cash changeover scenario – Transition period or Big Bang? – Selection of the E-Day – Length of the dual currency period 12/23/2021 12

Summary • There are interesting developments in the circulation of euro banknotes and coins • Counterfeiting threat has stabilised • There are several challenges ahead 12/23/2021 13

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