Euro banknotes, First series
Euro banknotes, Europa series
Banknotes of the euro, the currency of the euro area and institutions, have been in circulation since the first series (also called ES1) was issued in 2002. They are issued by the national central banks of the Eurosystem or the European Central Bank. In 1999 the euro was introduced virtually, and in 2002 notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union.