Keynote speech by Piero Cipollone, Member of the Executive Board of the ECB, at the House of the Euro

Brussels, 14 September 2026

Today, we are discussing the future of euro cash – the most tangible symbol of our common currency, and one that remains firmly rooted in the daily lives of Europeans.^[1]

Euro banknotes are more than a means of payment. They are something Europeans share, an expression of our common European identity.

25 years ago, Europe embarked on a historic currency changeover. On 1 January 2002, 308 million citizens welcomed euro cash. Within just two months, more than 7 billion banknotes and 36 billion coins replaced 12 national currencies.

Euro cash became one of the most visible achievements of European integration. And with Bulgaria joining the euro area earlier this year, the euro now unites 21 countries and more than 358 million citizens.

25 years on from the initial changeover, Europe is once again shaping the future of its common currency. Not out of…