However, the probability of success of new initiatives, based on past experience, is quite low, so we must avoid overblown expectations, and we must be prepared to recognize and abandon things that clearly have no future.
This is why the ECB and the Commission are fully behind measures that make it easier for the European SME sector to gain access to financing. In addition to the CMU proposal, other policies that support the competitiveness of European SMEs relate to integration and innovation in the retail payments market, particularly for payments in euro.