Tight security around currency

Highlighting unique security features, such as holograms, colour shifting ink and iridescent stripes, the European Central Bank yesterday unveiled the final design of the euro bank notes to kick off its publicity campaign in the run-up to the introduction of the new currency in January.

Presenting the new notes, ECB president Mr Wim Duisenberg said central bankers as a rule were expected to deal with numbers; emotions and dreams were not generally meant to enter the equation. Yesterday proved an exception.

"This is a moment when the flow of history is present," he said. "Today, we see the notes for the very first time. In just over 100 days time, the euro will be in our pockets, our money, a tangible reality."

While the seven denominations of bank note may not seem too dissimilar to the casual observer from the examples already on show in leaflets and posters for months now, the ECB highlighted the host of security features incorporated in the new currency.

"The key to the successful introduction of the euro bank notes and coins on January 1st, 2002 can be summed up in a single word - confidence," said Mr Duisenberg.

"The public can be confident that the new euro bank notes - with their array of sophisticated security features - are among the most secure in the world." Three tests - feel, look and tilt - will enable anyone to identify genuine euro bank notes quickly and easily, according to Mr Domingo Solans, executive board member of the ECB with responsibility for bank notes.

The notes are printed on pure cotton paper, which Mr Solans said gave them a unique feel. In addition, to identify the banknotes by touch, some parts on the front side are printed in relief. Also included is a watermark, which, when held up to the light, shows a picture and the value of the banknote. A security thread also becomes visible when held up to the light.

When tilted, a hologram on a file stripe shows the euro symbol and the value of the banknote. Each low-value note also incorporates an iridescent stripe, which when tilted under a bright light, shines and changes colour slightly.

Two of the security features on the €50, €100, €200 and €500 are different to those on lower-value bank notes. These include colour shifting ink in place of the iridescent stripe, whereby the value numerals change colour from purple to olive green or brown, and a foil patch with a hologram instead of a foil stripe.

The seven euro banknotes, ranging from €5 to €500, can be recognised easily from their look and feel - each has its own colour and size. The higher the value, the larger the note.

"On the front of the banknotes, pictures of windows and gateways symbolise a spirit of openness and, on the back, pictures of windows signify co-operation," said Mr Solans.

A total of 14 billion banknotes and 50 billion euro coins will be introduced into the 12 euro-zone countries on January 1st, 2002.

"The euro is much more than just a currency - it is a symbol of integration in every sense," said Mr Duisenberg.

He said the advent of the currency would mark the end of currency volatility in Europe and overcome economic uncertainty.

A mass media campaign, comprising TV and print advertisements, an information leaflet and posters for schools, was announced by the ECB yesterday to make the new currency more familiar to people before its arrival.

More than 200 million leaflets on the currency will be distributed to households from October.