Draghi debuts new €50 banknote

Listen to this article


Mario Draghi has unveiled a brand-new version of the eurozone’s most popular banknote: the €50 bill.

In a dig at the European Central Bank’s critics, some of whom come from populist political parties, Mr Draghi said the single currency was frequently quoted by euro-area citizens as one of “the most important elements of European identity… after democracy and freedom”.

“Holding a euro banknote and knowing that it can be used in 19 countries is a reminder of the deep integration Europe has attained,” the ECB president said in Frankfurt on Tuesday at a ceremony to mark the launch of the new note.

He added that approval ratings for the single currency were, at 70 per cent, back to pre-crisis levels.

Cash remains Europeans’ preferred mode of payment and is used for more than three-quarters of transactions. The €50 is the most important denomination, with more than 9bn — or 46 per cent of all notes — in circulation.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.