No place for the Queen in new monetary union plans

THE new euro banknotes provoked their first stampede yesterday, as hundreds of reporters scrambled to see them for the first time.

Released simultaneously in Dublin and Frankfurt, the design drew some fire for geographical inaccuracy and the absence of a space for Queen Elizabeth's head - but it was generally well received.

Drawings by Austrian banknote designer, Mr Robert Kaliena, would be used, the president of the European Monetary Institute (EMI), Professor Alexandre Lamfalussy, told a press conference at the Central Bank.

The institute had commissioned Gallup to conduct secret market testing across the 15 EU member states, and found broad acceptance of the design, he said.

"We tried two groups professionals who use cash a lot like taxi drivers and bank officials and the general public. We had a very positive reception, and, as a pleasant surprise, little divergence in that opinion right across the Union," he said.

The banknotes feature windows, gateways and bridges. These are depicted in seven architectural styles, from classical romanesque to 20th century.

They will come in seven denominations - 5, 10, 20, 50, 100, 200 and 500 euros - and in seven colours grey, red, blue, orange, green, yellow and purple.

They range in size from the 120 mm x 62 mm 5 euro note to the 160 mm x 82 mm 500 euro bill and they will incorporate the latest anti counterfeit elements, such as holograms and multi tone watermarks.

At yesterday's press conference at BBC reporter was quick to ask: "Where is there room for the Queen's head?"

The inquiry was greeted with hoots of laughter by the press corps of 14 out of the 15 EU member states. But British journalists seemed only mildly embarrassed.

Prof Lamfalussy said Queen Elizabeth's head, or any other national symbol, may never make it on to the euro. That decision would be made by the heads of government next year.

If they permit national symbols, these will be limited to 20 per cent of the space on the back of each bill, on the right hand, side.

Reporters also asked why the map on the back of the notes showed Portugal and Spain more westward than Ireland and why Turkey had been airbrushed out.

Prof Lamfalussy replied: "Part of Mr Kaliena's job over the next six months will be to get the geography right - several islands, for example, have disappeared from the sketches.

Last night, artist Mr Robert Ballagh, who submitted his own designs for the banknote competition, said he thought the chosen notes were "competent but dull not inspiring".

"I'm also surprised that there are no portraits, because I spent the last six months doing portraits."

Prof Lamfalussy said the EMI had decided against portraits in order to avoid national bias.