By contrast with the developments in large-scale payment systems, the situation for retail payments today is nearly unchanged as compared with that prevailing before Monetary Union: in 2005 there were still 15 different retail payment systems within the euro area, compared with 20 in 1998.
During the crisis a relatively short-lived debate evolved whether countries outside the euro area should be allowed to join monetary union immediately. This would have meant to abolish – or temporarily suspend – the convergence criteria laid down in the Maastricht Treaty.