Concerning recent developments in the context of the excessive deficit procedure, it is the view of the Governing Council that the proposals of the Commission push the room for interpretation of the rules and procedures to the limit.
In addition, the ECB and the national central banks will conduct an information campaign addressing everyone who handles banknotes so that they will be able to recognise the new note and its security features. The new € note is the third denomination in the Europa series that is gradually replacing the original euro banknotes introduced in 2002.