The new euro banknotes feature a disturbing Greek myth

Amid Greece's approval from the European Commission on its proposed reform measures to extend its bailout program, the ECB released new banknotes named after the Greek mythology figure "Europa" - which the continent is obviously named after.

In a speech on Tuesday, ECB President Mario Draghi said, "The inclusion of the mythological figure Europa, who gave her name to our continent, shows how Europe draws on its shared history."

Ironically, the mythical story of Europa is as scandalous as the sovereign European debt crisis.

As the tale goes, Europa was a Phoenician woman who was unwillingly abducted, sexually abused, and impregnated by Zeus who disguised himself as a bull.

While Europa does not function as an official symbol of the EU, modern Europe still references the story near its government buildings.

Here is a better look at the new banknotes which will enter into circulation in November:

As an added security feature, a hologram of Europa appears on a silvery stripe on the right of the bill.