It will take time to solve the European debt problem Keeping in mind the aforementioned situation, I will address measures toward the solution of the European debt problem. As I have said earlier, market strains have been somewhat mitigated, due partly to massive funds provision of the ECB and others. That is only an arrest of bleeding for the moment.
As regards the migration end-date for both SEPA credit transfers and SEPA direct debits, let me emphasize that the definition of an ambitious but realistic migration end-date is a key factor to provide certainty, to speed up the migration process, to reduce the cost of maintaining dual systems and to limit the “wait-and-see” attitude.