Standing at the crossroads of the reform process, the euro area’s economic growth is being held back and the area itself continues to be exposed to financial risks.
To that end, the Board has for a number of years regulated card payment systems by setting standards in relation to such matters as interchange fees, surcharging and access. As you know, the Board is currently undertaking a comprehensive review of those aspects of card payments regulation. I’ll be happy to answer any questions you might have today about how that review is proceeding.