The European Central Bank (The ECB) in the German city of Frankfurt made a presentation of the updated banknote in the denomination of 10 euros. This bill is the second in a series of "Europe". The image used for its design is a Phoenician princess Europa, who was abducted by Zeus, and then took the appearance of a bull. Note that the first bill of this series was the banknote in the denomination of 5 euros, published in January of last year.
There is a portrait of a girl on the bills that was copied from an ancient vessel for wine storage. Everyone can see it; you need only look carefully on the bill through the light, as the portrait of the princess – is the basis for the watermark. A similar portrait, this time only in the form of a hologram, is placed on a special tape that crosses the right edge of the banknote.
On the European Central Bank’s website they noted that the changes in the banknotes were introduced for the first time in the design of the denomination of 10 euros. The updated bills will go into circulation on September 23d this year. It should be noted that they will be used in parallel with the old ones, but its predecessor, which loses its shape gradually, will be replaced with the brand-new bills. In addition, the main advantage of the new banknote is an increased strength that is why it certainly will be more durable than the old banknote; in turn, it will allow the ECB to save on printing of the new banknotes, which is necessary for the replacement of the worn-out bills.
The Fight Against Counterfeiters
The experts mentioned one of the main reasons for the need to release the updated euro banknotes; it is the fight strengthening against the counterfeiters, who have been able to study well enough and to copy the old banknote protection for several years. Thus, only in the period from January to June of 2013 in Europe there were 317,000 counterfeit bills withdrawn from circulation.
Yves Mersch, a member of the European Central Bank administration said that it was very important to maintain the people’s confidence in the euro. According to him, the main purpose of the issuance of the new notes is to ensure everyone who uses them is the confidence on the future security of their value.
Anyone who wishes to make sure that 10 euros is not a fake bill can do it using the method, "feel, look, tilting". Some part of the banknotes has an embossed image on, if you look at the light - in the window you will see a portrait of Europe, in addition, the banknote, while tilted, will even change the shade from emerald-green to dark blue.
The Fake Euro: What's It Done To The Economy?
Recently, different people have been detained with the fake euro banknotes in the various countries of the EU. Now the main reason why has been found. As it was previously reported, a large gang of counterfeiters was apprehended. During the operation against the underground press, the law enforcement agencies confiscated around 9 million counterfeit euros and immediately detained 13 suspects. Those fake Euros mostly went to the EU. In the illegal printing they printed the counterfeit notes mostly in denominations of 100 euro. The counterfeit notes were of a very high quality, they were very difficult to distinguish from the real ones. They also detected a plate for counterfeiting dollars.
Meanwhile, the criminologists offer to improve the euro banknotes protection. Soon they intend to introduce the concrete proposals to protect the euro against counterfeiting to the European Central Bank (The ECB) in its headquarters in Hague.
On January 13th, 2014, the euro’s exchange rate versus the U.S. dollar was at 1.3658 dollars per euro – as the analysts of the Masterforex-V World Academy inform:
The main economic indicators point that the euro, the common currency, which is used by the control unit of 17 European countries, is experiencing serious problems. In Spain, the Minister of Economy, Luis de Ginos, said that the domestic banks probably will be forced to write off $65 billion of bad loans; it is mostly the real estate debt, the price of which is reduced greatly.
Indebted countries such as Greece, Ireland and Portugal have already been forced to seek for the international assistance, and Greece negotiates about the terms of the second bailout and the debt.
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The information of the article was provided by the experts of Masterforex-V World Academy. We will monitor the latest data on the currency market.