Greek Mythology is Safe in the Eurozone

Todd Buell

FRANKFURT–Greece is to stay in the eurozone. Or at least its mythology will.

The European Central Bank Tuesday unveiled its new €20 note, the third in the series that shows the Greek mythological figure Europa on it.

The note has a new feature which the bank calls a “portrait window.” When the note “is held against the light, the window becomes transparent and reveals a portrait of the mythological figure Europa, visible on both sides of the note,” the ECB said in a press release.

ECB President Mario Draghi said it was a “a real innovation in banknote technology.” He spoke at a very brief ceremony at the ECB in Frankfurt where he signed the new note. The EU’s anthem, Beethoven’s “Ode to Joy”, played in the background.

The ECB has already introduced Europa-series versions of its €5 and €10 bank notes. The new €20 note will enter into circulation on Nov. 25. The ECB intends eventually to replace the €50, €100, €200 and €500 notes which are also in circulation.

Mr. Draghi’s speech didn’t touch on current issues, but he stressed the connection between eurozone banknotes and European integration.

“The introduction of a new banknote serves as a reminder that this integration is an ongoing process. Euro banknotes touch the lives of every one of us. As such, they bring us all closer together,” he said.