News in Brief

Bundesbank Celebrates 20 Years of Euro Cash

The Bundesbank held an event on 9 November in Berlin celebrating the 20th anniversary of the euro. Prof Dr Johannes Beermann, Member of the Executive Board, noted the tremendous achievement of 11 founding euro countries jointly leaving behind overnight their previous national narratives despite their different cultures, languages and historical backgrounds.

He made the point that the physical existence of the euro as banknote and coin has contributed to the great acceptance of this European project, since the cash can be touched, it leaves a deeper impression on the user, thus creating trust among people.

The Bundesbank is currently conducting a study on the cash of the future, which will be published next year. The aim of the study is to position cash in 15 years time, and beyond, as an attractive, reliable, competitive and generally accepted means of payment and store of value and to ensure its infrastructure.