History 5 euro note

the euro founded on 1 january 1999, when became currency of on 300 million people in europe. first 3 years of existence invisible currency, used in accountancy. euro cash not introduced until 1 january 2002, when replaced national banknotes , coins of countries in eurozone 12, such irish pound , austrian schilling.

slovenia joined eurozone in 2007, cyprus , malta in 2008, slovakia in 2009, estonia in 2011 , latvia on 1 january 2014.

the changeover period

the changeover period during former currencies notes , coins exchanged of euro lasted 2 months, going 1 january 2002 until 28 february 2002. official date on national currencies ceased legal tender varied member state member state. earliest date in germany, mark officially ceased legal tender on 31 december 2001, though exchange period lasted 2 months more. after old currencies ceased legal tender, continued accepted national central banks periods ranging ten years forever.

changes

notes printed before november 2003 bear signature of first president of european central bank, wim duisenberg, replaced on 1 november 2003 jean-claude trichet, signature appears on issues november 2003 march 2012. notes issued after march 2012 bear signature of third president of european central bank, incumbent mario draghi.

until may 2013 there 1 series of euro notes, new series, similar first one, planned released. bank notes going replaced in ascending order. therefore, first new note 5 euro note in circulation since 2 may 2013. new design made public on 10 january 2013 in archaeological museum of frankfurt (germany). while broadly similar current notes, minor design changes include updated map , hologram of europa. moreover, new notes reflect expansion of european union; current issues not include recent members cyprus , malta (cyprus off map east , malta small depicted). first time when bulgarian cyrillic alphabet going used on banknotes result of bulgaria joining european union in 2007. therefore, new series of euro banknotes include ЕВРО , bulgarian spelling euro abbreviation ЕЦБ (short Европейска централна банка in bulgarian).

the european central bank will, in due time, announce when banknotes first series lose legal tender status.