THE designs for the euro notes have already been published. They will look roughly the same in all the states taking part and there will be a small space on one side for a national symbol.

The winning design from the banknotes came from Austria and featured bridges and windows which, according to the competition judges, symbolised "the openness and co-operation of the union".

While the bridges are meant to be imaginary, there are claims that five of the seven are based on real bridges.

The 500 euro note, for example, looks like the Pont de Normandie, near Le Havre. A competition to design the euro coins is now well under way.

Notes are to be issued in denominations of 5, 10, 20, 50, loo, 200 and 500.

There will be eight different coins ranging from one hundredth of a euro (to be called a cent) to two euros.

The mechanism for coming up with the final exchange rates between the different member states of monetary union and converting into euros has still to be decided.