Servicing of the indebtedness would not in fact have been interrupted and here again the ESM could, depending on the parameterisation of the contract, have cleared a larger profit in a win-win result. This too was floated to an unresponsive ESM and IMF, neither of which had such tools available.
And the answer to why we are all moving all this paper is that customers want us to move it and are willing to pay to have it done. But the answer still doesn’t make a whole lot of sense. There are several interrelated reasons why change could be expected to accelerate in the retail payments arena in the near future.