A lot remains however to be done: the extension and deepening of the EU internal market remains a priority. It is essential to ensure full implementation of Community directives, where greater efforts  15  See Blanchard, O. (2004): “The economic future of Europe”, The Journal of Economic Perspectives, vol. 18, pp. 3-26; and also Gordon, R. J.
Now with the emergence of new enabling technologies, the retail payment systems are being transformed into the so-called “faster payments” that enables the public to pay and receive money in almost real time. Consumers accustomed to instant communication via email and social media expect to be able to make payments instantly.