Bundesbank sees smooth switch to new 10-euro banknotes

September 14, 2014 00:00:00

Germany : An employee of the German Federal Bank (Deutsche Bundesbank) presents new 10-euro banknotes during a press conference in Frankfurt am Main, western Germany recently. The new banknote will come into circulation from September 23. — AFP Photo

FRANKFURT, Sept 13 (AFP) : The German central bank said on Thursday the upcoming launch of new 10-euro banknotes will not be be hit by the same hiccups as those experienced with five-euro notes in 2013.

"The lessons have been learned," Bundesbank director Carl-Ludwig Thiele told a news conference.

The European Central Bank is gradually phasing in new banknotes to replace those in circulation since the euro became a physical currency in January 2002.

It started with new five-euro banknotes in May 2013 and new 10-euro notes are being introduced on September 23.

But in Germany, software glitches meant that not all vending machines -- such as rail ticket or parking ticket machines -- immediately accepted the new five-euro notes last year.

National rail operator Deutsche Bahn insisted that such problems had been ironed out this time round.