We will also need to learn how the monetary policy transmission mechanism works across the new area. I expect that the national central banks from the accession countries will have an important role to play here in helping us understand the workings of the enlarged euro area.
These are rules that affect the ways in which payment services are actually provided, the structure of transactions, and the responsibilities of the various parties. They are designed to guarantee the highest possible level of security and protection for users of payment services and to foster efficiency and innovation.