Designers face a cultural challenge

Date: 15/02/1996

WITHIN six years, Europeans could be fishing banknotes out of their pockets with either a portrait of Beethoven, or a plain Rothko square.

After months of preparation, the European Monetary Institute this week finally kicked off its competition to design the seven denominations of Euro banknotes - the five, ten, 20, 50, 100, 200 and 500.

The institute, which will adjudicate on 13 September, has decided on two design options: 'ages and styles of Europe' reflecting the continent's cultural heritage, or an abstract or contemporary design.

The contest will only be open to experienced banknote designers, who will be selected by national central banks.

Exactly how to include a national symbol in the notes still has to be decided, although 15&percent; of one side of the note is believed to have been set aside for this purpose.

Central bankers are prepared to go as far as following the American practice, where dollar bills are issued by one of the 13 members of the Federal Reserve system, and a small stamp is applied specifying which bank issued it.