ECB's Mario Draghi announces new euro banknotes ECB chief Mario Draghi told a news conference here that the current notes, launched on January 1, 2002, would be gradually withdrawn from circulation, AFP reported. The European Central Bank and the national central banks of the eurosystem are to introduce a second series of euro banknotes. Called the 'Europa' series, it will include a portrait of Europa - a figure from Greek mythology and the origin of the name of our continent - in the watermark and the hologram. The new banknotes would have the same colours and sames denominations as the the current ones - €5, €10, €20, €50, €100, €200 and €500 - but would be "easy to distinguish from the first series." They would be introduced in ascending order, so that after the €5 note, the €10 note would follow. Initially, the first series would circulate alongside the new banknotes, but old notes will gradually be withdrawn and eventually cease to be legal tender. The date for this would be announced "well in advance." However, the banknotes of the first series would retain their value indefinitely and can be exchanged at the eurosystem national central banks at any time. The new €5 notes would be unveiled in full on January 10 2013 and banks would start to issue the new notes over the counter or via cash dispensers in May next year, the ECB said.