Finally, the short-term consolidation process in the financial sector has not yet reached its final and acceptable destination. International financial markets observe the still relatively high rates of expansion in bank credit extension and in the money supply, the above average-rate of inflation, and the growing indebtedness of particular private individuals with circumspection.
I look forward to a near future, in which European retailers, businesses and consumers will be even more able to reap the benefits of a safe, robust, socially efficient and innovative payments system. This is in fact also one of the stated objectives of the Economic and Monetary Union.