3/4  BIS central bankers' speeches  But potential central bank initiatives should not discourage or crowd out private market-led solutions for fast and efficient retail payments in the euro area. Conclusion Let me conclude. Global payments markets are undergoing a transformation.
Continental European countries may gain an additional benefit from the increased development of their capital markets. With increased concentration of national banking systems, which will likely be followed by increased concentration of Europe-wide banking, comes the risk of an unusually large impact should the health of a megabank become impaired, causing the bank to curtail its lending.