The Single Market also stands to benefit considerably from the wide range of new opportunities that have been opened up through the launch of SEPA, as it will promote competition and innovation, as well as improve conditions for customers.
In this context, I would like to draw your attention to a recently published study on the economic impact of SEPA, which was carried out by the ECB in close cooperation with a number of European banks. The study clearly shows that it depends on the interplay between two forces.