Indeed, the euro area’s financial system is still predominantly bankbased, despite despite significant changes in the area’s financial landscape in recent decades (as a result of a number of structural developments, including the introduction of the euro).
It is designed to facilitate small value payments and will enable merchants to accept digital payments from customers in real-time using cards or any digital device especially smartphones. Another thrust under the Plus Plus agenda is the development of domestic debt markets as a viable alternative to bank funding.