Consider, for example, the action plan launched by the Financial Stability Board (FSB) in 2015 to assess and address the decline in correspondent banking, the 2015 Targets on remittances set by the United Nations as part of the Sustainable Development Goals, and the work carried out by the BIS Committee on Payments and Market Infrastructures (CPMI) on Correspondent banking and Cross-border retail payments.
It is welcome news that the euro area recorded 0.3% GDP growth in the second quarter, after six straight quarters of negative growth. But the recovery is only in its infancy. The economy remains fragile. And unemployment is still far too high.