The euro, a currency used daily across Europe, is more than just a medium of exchange; it’s a symbol laden with political and economic significance. Since its introduction, the euro’s value has been subject to fluctuations, like any currency, but its underlying importance transcends mere monetary worth. It embodies lofty ambitions of European unity and political idealism, especially relevant amidst ongoing events like Brexit and internal European tensions. But how did this significant currency acquire its distinctive symbol, recognized globally?
While the euro’s creation story – decades of meetings, treaties, and political negotiations – is well-documented and primarily of interest to economic historians, the origin of its symbol is a more intriguing and debated topic. Unlike older currency symbols that evolved organically, the euro sign was intentionally designed.
Image alt text: Euro-themed underwear featuring euro symbols and banknotes, displayed for sale at a market stall in Spain, highlighting the currency’s cultural presence.
The name “euro” itself was chosen in Madrid in 1995, reportedly suggested by a Belgian teacher with an interest in Esperanto. “Euro” beat out other names, including the more theatrical “ducat,” because it needed to be uniform across all European official languages. This need for uniformity extended to the symbol that would represent the new currency.
The design brief for the euro symbol had three key requirements. First, it had to be easily recognizable as a symbol of Europe. Second, it needed to resonate with existing, well-known currency symbols. And third, it had to be aesthetically pleasing and simple enough to write by hand. The European Commission staff undertook the task of compiling over 30 potential designs. This list was then narrowed down to ten, which were presented to the public for feedback. Two designs emerged as frontrunners. Ultimately, the decision was left to Jacques Santer, then President of the European Commission, and Yves-Thibault de Silguy, the commissioner for economic and financial affairs.
When the chosen symbol was revealed in December 1996, The European newspaper praised it as “precise and confident, like a post-modern pretzel.” However, elsewhere, it sparked confusion. Was it a ‘C’ crossed by two horizontal lines? In reality, the design drew inspiration from the Greek letter epsilon, Ε. This was a deliberate reference to Greece, considered the cradle of European civilization, emphasizing historical continuity. The epsilon also subtly evoked ‘E’ for Europe. Ironically, this classical reference took on a different hue in 2010 when the Greek financial crisis threatened the entire eurozone’s stability. Perhaps the two parallel lines through the symbol, intended to represent stability, were more pertinent than initially imagined.
Intriguingly, the runner-up symbol from the public consultation is now virtually untraceable. It supposedly exists in a Brussels vault, but online searches give the impression that the current euro symbol was always destined to be. A veil of ambiguity also surrounds the public consultation itself. How many EU citizens participated? What were their nationalities? And regarding the designers of the winning symbol – a design that achieved global recognition almost instantly – reports suggest there were four anonymous individuals.
Image alt text: Pro-Europe activists gathered outside the Centre Georges Pompidou in Paris, singing the “Ode to Joy,” the anthem of Europe, demonstrating public support for European unity.
What is known definitively is the symbol’s precise geometric construction. Specific proportions and foreground and background color tones are mandated. When officials decided to patent it, the euro sign became the first copyrighted currency symbol in the world. This move, however, wasn’t welcomed by typographic experts who suddenly had to incorporate a new glyph into existing fonts. Computer systems also struggled initially, frequently displaying question marks instead of the euro symbol due to conversion errors.
The euro was first introduced as a non-cash currency for electronic transactions on January 1, 1999. As 14.25 billion banknotes and 50 billion coins were prepared to circulate in 11 member states in 2002, two peculiar challenges arose against the official EU narrative. Firstly, the symbol was criticized for its similarity to the old logo of the US electronics company Commodore. Then, British foreign exchange specialist Travelex made a bolder move. Travelex claimed to have been using a strikingly similar sign in correspondence since 1989 and sued the European Commission for trademark infringement. Ultimately, the court ruled in favor of the EC, leaving Travelex with a substantial legal bill.
Later, Arthur Eisenmenger, a retired graphic designer from southern Germany, claimed to be the symbol’s creator. Eisenmenger stated he designed it over 25 years prior while working as the chief graphic designer for the European Economic Community. He is credited with overseeing the creation of the star-ringed EU flag and the “CE” mark for European goods. Eisenmenger asserted he created the euro symbol as a general emblem for Europe, not specifically for the currency, telling The Guardian, “I wasn’t thinking of the euro at the time, but just something that symbolised Europe.”
Regardless of its true designer, the Symbol Of A Euro has become much more than just a currency marker. Alongside the EU flag and the “Ode to Joy” anthem, it has transcended its practical function and evolved into a potent icon of the European project itself. Perhaps the ultimate testament to its success lies in its versatile adoption – it can even be seen on pro-Brexit placards, repurposed to make a different kind of statement about Europe.
