I’d like to discuss that project for a few minutes, and then talk about four things that we should all be doing to enhance payment security. For some years, members of the public have told us with increasing frequency and intensity that they see the United States falling behind other nations in the speed and security of our payment system.
Given demographic changes, it is wholly appropriate for Germany to run current account surpluses because, put simply, there is a shrinking number of us to generate national product and proportionally there are more and more who consume it.