Wednesday

25th Jan 2017

ECB unveils new €5 note

  • Europa: 'Nobility, divinity, beauty and love stood at the cradle of our continent, but also violence' (Photo: ecb.int)

The European Central Bank (ECB) launched a new €5 note on Thursday (10 January) with a topical joke on the crisis and British euroscepticism.

The note features a watermark and a hologram of Europa - a Phoenician princess who lent her name to Europe and whose portrait was taken from a 2,400-year-old wine jug in The Louvre museum in Paris.

Dear EUobserver reader

Subscribe now for unrestricted access to EUobserver.

Sign up for 30 days' free trial, no obligation. Full subscription only 15 € / month or 150 € / year.

  1. Unlimited access on desktop and mobile
  2. All premium articles, analysis, commentary and investigations
  3. EUobserver archives

EUobserver is the only independent news media covering EU affairs in Brussels and all 28 member states.

♡ We value your support.

If you already have an account click here to login.

ECB chief Mario Draghi signed a model of the bill at the unveiling ceremony in the archaeological museum in Frankfurt.

He said: "Over the years, euro banknotes have become the most visible symbol of European integration."

He added: "Despite the challenges facing the euro area ... I am confident that 2013 will bring about a deepening of economic and monetary union and will strengthen European integration."

His host, museum director Egon Warmes, noted that Emperor Charlemagne in the year 794 AD in Frankfurt launched the denarius - a silver coin that was used "from the Atlantic Ocean in the west to the River Elbe in the east and from the northern seas to central Italy" and which was "the first, the primary euro."

He said King Offa in England also minted denarii, which he called pennies and which remained valid for 400 years.

With today's UK rejecting the euro and talking of leaving the EU, Warmes joked: "Thus, President Draghi, if you want to save the euro for more than 400 years, bring it to Britain."

The first Europa notes will arrive in banks and shops in May.

The ECB will print new versions of €10, €20, €50, €100, €200 and €500 notes in the "next few" years. The old ones will circulate alongside, but will "eventually cease to be legal tender" on a date to be announced "well in advance."

In Greek mythology, the god Zeus fell in love with Europa and then kidnapped and raped her.

"You see - nobility, divinity, beauty and love stood at the cradle of our continent, but also violence," Warmes said.

Draghi opted for a cleaner version of the story, however.

"Let me thank you Professor Warmes for your kind words - you said that nobility, divinity, beauty and love [are] all to be found in our beautiful continent," he said.

EU should raise own taxes, says report

A group chaired by former Italian PM and EU commissioner Mario Monti says Brexit should be used to create EU-level levies to depend less on member states contributions, and to abolish member states rebates in the EU budget.

News in Brief

  1. VW's internal Dieselgate probe not yet done
  2. Israel defies EU policy with huge settlement expansion
  3. Martin Schulz to be candidate for German chancellor
  4. EU commission gives MEPs Dieselgate paper at last moment
  5. EU parliament committee backs EU-Canada deal
  6. UK MPs must vote on Brexit trigger, court rules
  7. Greek island mayors plead for the transfer of migrants
  8. Tzipi Livni cancels Brussels trip amid war crimes probe

Stakeholders' Highlights

  1. International Partnership for Human RightsKyrgyzstan: no Justice for Human Rights Defender Azimjan Askarov
  2. Dialogue PlatformThe Influence of Turkish Politics in Europe After the Coup Attempt
  3. World VisionEU Urged to do Better Ahead of Helsinki Conference on Syria
  4. Caritas EuropaEU States to Join Pope Francis’s Appeal to Care for Migrant Children
  5. UNICEFNumber of Unaccompanied Children Arriving by sea to Italy Doubles in 2016
  6. Nordic Council of Ministers"Nordic Matters" Help Forge Closer Bonds Between the UK and the Nordic Region
  7. Computers, Privacy & Data ProtectionThe age of Intelligent Machines: join the Conference on 25-27 January 2017
  8. Martens CentreNo Better way to Lift Your Monday Blues Than to Gloss Over our Political Cartoons
  9. Dialogue PlatformThe Gulen Movement: An Islamic Response to Terror as a Global Challenge
  10. European Free AllianceMinority Rights and Autonomy are a European Normality
  11. Swedish EnterprisesHow to Create EU Competitiveness Post-Brexit? Seminar on January 24th
  12. European Jewish CongressSchulz to be Awarded the European Medal for Tolerance for his Stand Against Populism

Latest News

  1. No Turkey-type migrant deal with Libya, says EU commission
  2. EU to Trump: Protectionism is 'doomed to fail'
  3. The French town that swung from socialist to far-right
  4. UK parliament must give Brexit approval, judges rule
  5. 'No indication' VW used EU loans to cheat
  6. Fillon promotes pro-Russia views in Berlin
  7. Dutch PM tells people to 'act normal, or go away'
  8. EU to step up effort against Russian and Islamist propaganda