Active preparations are ongoing for the new third series of euro banknotes to be put into circulation in the next few years. This is a multi-stage process, and the selection of the design of new banknotes is currently ongoing. What's new, and what will happen next?
This year, the European Central Bank (ECB) launched a competition for the design of the future euro banknotes and invited designers and artists residing in the European Union to participate. The application deadline expired in August, and artists who will be invited to participate in designing the banknotes are expected to be selected in October. The competition will end in June 2026, and it will be followed by a public survey organised by the ECB to gather public opinions on design proposals selected for the final stage.
By the end of 2026, the Governing Council of the ECB will announce the final design of the future euro banknotes. It will serve as a starting signal for preparatory works to put the third series of euro banknotes into circulation.
Currently, two potential themes of the new banknotes are being developed: the "European culture" and "Rivers and birds". The motifs used for the "European culture" will include various cultural events and facilities, as well as important contributors to the European cultural heritage. The theme "Rivers and birds" highlights the importance of the European nature and its protection.
This is a crucial message on cash that reiterates the commitment of Latvijas Banka and the ECB not only to maintain cash, but also to develop it as a means of payment to make it more accessible and secure. In terms of economic security, the geopolitical developments underline the relevance of cash. Thus, it is even more important to address public concerns about the future of cash. Of late, stories in both the media and on social networks have stirred public worry about this topic.
We will ensure that the public continues to enjoy access to various means of payment. The digital euro is not intended to replace cash – just the opposite, it aims to complement potential choices for the businesses and the general public. In fact, it will be a new type of money with the same advantages as cash, and it in no way means that those who prefer cash will have to change their habits. There was, is, and will be cash, as long as the public demands it.
The people of Latvia will also have a say in how our future money – the third series of euro banknotes – will look like. Follow updates from Latvijas Banka and the ECB not to miss the survey on the new design of euro banknotes in 2026. Every vote counts!