These requirements for euro adoption must be fulfilled not only because the principle of equal treatment should be respected. They must be fulfilled for substantive reasons too: that is, in order to ensure the smooth entry and successful participation of a country in the European Monetary Union. We should not forget that a Member State’s decision to adopt the euro is irreversible.
[While micro, small, and medium enterprises (MSMEs) account for more than] 98 percent of numbers [of all enterprises in the Philippines, they have a] much smaller percentage of value. On the other hand, the top five banks account for, maybe, 60 percent of [system-wide] assets. And that is the way the economy goes. But nonetheless, every small transaction counts. Let me cite another example.