Structural reforms reach deep enough into societal arrangements and practices that they can only succeed if they are made the object of strong domestic ownership. At the same time, those reforms require substantial political capital.
An excellent example of this is the assistance that the NBB is already providing to us in the form of system installation and user training. In a broader context, cooperation by National Central Banks in the CashSSP project is a significant case of the new, truly European approach to central bank operations, which is evolving within the Eurosystem.