Fabian Demicoli

New Euro Bank Notes – GRTU holds successful meeting for Businesses


In less than a month, May 2nd, we might just start seeing the
new series of ‘Europa' €5 banknotes as this is the official date launching its
circulation. The €10 will start circulating next January. This is an important
event for businesses as they and their employees must become aware, by May 2nd,
that they should start accepting this new banknote.
They also have to upgrade
any machinery by which they would check if the money is authentic and machines
that accept money such as vending machines. GRTU has this week held an
information meeting in collaboration with the Central Bank of Malta for
retailers to inform them of this important development.

During the meeting GRTU Members were updated with the
developments and given information on the new Euros and the way they will be
circulated, informed about how they can prepare and what support can be
provided, shown what the new banknotes will look like and the enhanced security
features and given a brief training on how to recognize counterfeits. 

The new euro banknotes series incorporates enhanced security
features drawing on advances in banknote security and technology. This series
was called "Europa" because it shows a portrait of the Greek mythological
figure Europa. This portrait was chosen because it has a clear association with
the continent of Europe and also adds a human touch to the banknotes.

 

Another meeting for businesses will be held as follows:

Date: Tuesday 23rd April 2013

Time: 14:00 – 15.30

Venue: GRTU Republic Str, Valletta

Registration is required on 21232881 or

 

The introduction of this new series is part of the on-going
development of euro banknotes to make them even more secure. The European
Central Bank and the national central banks make every effort to safeguard the
integrity of the euro banknotes by regularly upgrading and improving their
security features.

The Europa series has the same "ages and styles" design and
dominant colours as the first series. The new banknotes are to be introduced
gradually over several years, in ascending order and starting with the new €5
banknote as of 2 May 2013. The denominations remain unchanged: €5, €10, €20,
€50, €100, €200 and €500.

The new €5 banknote includes some new and enhanced security
features. The watermark and hologram both display the portrait of Europa. The
eye-catching "emerald number" changes colour from emerald green to deep blue
and displays an effect of the light that moves up and down. Short raised lines
on the left and right edges of the banknote make it easier to identify the
banknote, especially for visually impaired people. They are easy to check using
the "FEEL, LOOK, TILT" method.

The first series will initially circulate alongside the new
banknotes, but gradually will be withdrawn from circulation. The euro banknotes
of the first series will remain legal tender.

Further information is available from the website
www.newfaceoftheeuro.eu. This website includes the "Euro Cash Academy", a
learning module which takes a playful approach to the new €5 and other euro
banknotes.

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