The project began in 2014, amidst the deepening economic crisis in Greece, using news headlines to reintroduce human stories into the arches of the banknotes. These figures depict scenes of struggle, resilience, and violence that erupted during the crisis, turning the currency into an archive of the era in which it exists. By putting these defaced banknotes back into circulation, they become silent messengers, circulating all over Europe like a “message in a bottle.” The scenes are a reminder that the impact of an economic crisis is not abstract, but human. The project is still ongoing, documenting and evolving with the passage of time.

Greece’s Entry into the EU and the Debt Crisis
Greece joined the European Union in 1981 and in 2001 replaced its national currency, the drachma, with the euro in order to align its economy with the rest of the Eurozone. Greece's financial vulnerabilities were exposed by the global financial crisis of 2008, and by 2010, the country was facing a severe debt crisis. In exchange for bailout funds from the International Monetary Fund, the European Central Bank, and the European Commission, Greece imposed drastic austerity measures that led to mass protests, unemployment, and deep social unrest. While the media sensationalized Greece’s crisis, the true complexity of the country’s situation was typically ignored.

The Symbolism of the Euro
The euro is the official currency of the Eurozone and is in cross-border circulation. Designed by the European Central Bank during the presidency of Mario Draghi, it is a symbol of unity and highlights the connection between European cultures,histories, and the future. Unlike Greece’s previous banknotes (drachma), which featured Greek historical figures, the euro designs are stylized portrayals of architectural periods, with abstract elements including bridges, buildings, and tracery windows. The removal of national symbols and human figures erases any direct cultural or national identity, symbolizing instead a broader, collective European identity shared by all members of the Eurozone. The absence human figures in the original design is significant. While the euro is a symbol of unity among European nations, its absence of human element contrasts with the day-to-day experiences of people—the very people who are impacted by economic policies.

— Stefanos Andreadis was born in London and works as a graphic designer in Athens, Greece. His personal work examines how the news media shape and frame narratives. The banknotes have been exhibited at the British Museum, at KKoutlet in London, at the Bienal del Sur in Venezuela, at the Money Museum of the German Central Bank in Frankfurt, and are included in the New Alphabet School organized by the Haus der Kulturen der Welt (HKW) in Berlin, among others.

Follow me on instagram or contact here.

The banknote archive is currently undergoing curation. © 2014–(Present).