The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Spain’s central bank prepares for E-day

A growth in bank note forgery is what most worries Spaniards about the introduction of a new currency. The euro could easily become a counterfeiter's dream if Spain's central bank does not take sufficient action to alert businesses and the public. The Bank of Spain (Banco de España) believes it has done so. The problem for the Bank for Spain - and other European central banks - is that to prevent false bills being accepted the public needs to be educated about the euro notes, so that people learn to recognise the new currency and can identify fake notes. On the other hand, to release too much information before the euro is actually in circulation is an invitation to counterfeiters to adjust their printing machines and start producing fake notes well in advance. There is a clear trade-off.

To deal with these competing interests, the Bank of Spain has decided to circulate information about the notes, and finally the notes themselves, gradually to different organisations. Small representative groups in banks, large chain stores and other big Spanish organisations, like the state train company, Renfe, are first to see them - they are currently being shown bills with one side printed so they can get to know their characteristics and pass this information on to their companies from September 1 2001 to prepare them for circulation on January 1 2002.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree