ECB to launch new notes in May

The ECB is to launch a new series of euro banknotes, starting with a new €5 note in May next year.

ECB president Mario Draghi said the current notes, launched on January 1 2002, would be gradually withdrawn from circulation.

The new notes will include a portrait of Europa, a figure from Greek mythology and the origin of the name of the continent, in the watermark and hologram.

The roll-out of the new notes will take several years to complete.

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