Bank of England has designs on the euro
Tuesday 13 February 1996
The Bank of England will almost certainly enter the race to design Europe's new bank-notes, even though the Government has not yet committed the country to joining a single currency.
Last night the Bank confirmed it is likely to submit designs in a competition launched by the European Monetary Institute, the Frankfurt-based body overseeing the transfer from national currencies to the European single currency, or euro. The competition is open only to "experienced banknote designers". In Britain's case that restricts entrants to the Bank of England, with its own in-house designers, or to the Basingstoke firm of De La Rue, designers and printers of 60 per cent of the world's banknotes.
The EMI is looking for ideas for the design of banknotes in denominations of 5, 10, 20, 50, 100, 200 and 500 euros. Those entering the competition have been given two design options.
The first, says the EMI, should be a traditional approach on the theme of "ages and styles of Europe", to reflect Europe's cultural heritage. One side of each note would show features or portraits of significant personalities, representing a certain age in history, while the other side would display an architecture feature from the same period.
The other option will be a series of notes with an abstract or contemporary design. All designs must allow for several advanced security features which will be incorporated in the notes later to help to prevent counterfeiting.
The competition will close on 13 September, long before the expected launch date for all the euro coins and notes by July 2002 at the latest. Despite uncertainty about the timetable, the official launch date of European monetary union remains 1 January 1999, at which point all exchange rates between national currencies will be irrevocably fixed and the transition to the euro will begin.
"It is pretty likely that the Bank of England will make a design application," said a Bank spokesman tonight.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 4 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
- 5 Snoop Dogg on why he doesn't regret displaying misogyny towards women
Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
Woman accidentally shoots herself in the head while posing for a selfie
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£35 - 40k + Benefits: Guru Careers: We are seeking a Software Developer (JavaS...
£18000 - £23000 per annum + Commission: SThree: As a Trainee Recruitment Consu...