10 Years of Euro Banknotes and Coins

The euro has grown into a major force in Europe and beyond, and a key player in the international monetary system. The elements arranged around the euro sign symbolise what the euro means for people, for finance (the ECB tower), trade (ships), industry (factories), energy, and research and development (wind turbines). The artist's initials 'AH' appear below the ECB tower. The names of the issuing states in their national languages are struck across the centre above the design, with the dates 2002–2012 below.

Third joint issue of the European Union. All 17 eurozone states issued a coin with the same design on the anniversary date of 1 January 2012. The coins differ only in the legend, which appears in the respective national language. San Marino also issued a coin with the same design, though it is not officially part of the joint issue.

When euro coins and banknotes entered circulation simultaneously in twelve countries on 1 January 2002, Europe carried out the largest coordinated currency changeover in its history. Within a few weeks, around 300 million people exchanged their national means of payment for the new common currency — from the German mark and the French franc to the Belgian franc. The logistical effort was enormous: billions of coins had to be minted, transported, and distributed before the cutoff date replaced the old currencies. Belgium had been a founding state of the eurozone from the start and had actively helped shape the monetary union from its inception — not least as the host of the EU's most important institutions in Brussels.

Over the following ten years, the euro developed into the world's second most important reserve currency and the anchor of the European single market. It connected not only economies but also changed everyday life: cross-border price comparisons became immediately possible, travel within the eurozone simpler, and cross-border trade noticeably easier. The European Central Bank in Frankfurt took responsibility for monetary policy across a growing currency area that had expanded to 17 member states by 2012. The joint commemorative coin issued by all euro states for the tenth anniversary of euro cash reflects this shared history — as the first issue in which every eurozone country took part with an identical design.