European trade unions including the GPMU are afraid that new plans for the production of the euro banknotes will lead to job losses among banknote printing staff across the continent.


In the first stage of printing some 14.5bn notes will be produced by the national central banks of all 12 central European states.


Under the second round of printing, which will involve the production of some 4.8bn notes, the European Central Bank (ECB) has decided that each euro country will print either one or two denominations.


"We are quite concerned as this will have serious implications for our members," said GPMU national officer Chris Harding.


He said the GPMU had lobbied the ECB to set up a fund for workers if redundancies were to happen.


"The ECB has a moral and financial responsibility to provide for those affected," said Harding.


Christine Asmussen, head of the finance sector at Union Network International (UNI), said: "Printers across Europe have come under extreme stress to be ready for the euro launch, and this action puts print workers jobs at risk."
She said that those who were printing the larger denomination notes, fewer of which will be required, would be hit hardest.


A demonstration is now being planned in front of the ECB offices in Frankfurt on 19 June as part of an action day over the issue.


Representatives from the Bank of England printing works, De La Rue in Gateshead and the Bank of Ireland will attend the demonstration.


The UNI represents some 60,000 workers in the EU national central banks and the ECB in Frankfurt.


Story by Andy Scott