[18] Standard deviations of annual percentage GDP growth and mean pairwise dispersion in annual real GDP growth (ECB calculations). [19] Gunnella, V., Lebastard, L., Lopez-Garcia, P., Serafini, R. and Zona Mattioli, A., “The impact of the euro on trade: 20 years into monetary union”, Occasional Paper Series, ECB, forthcoming. [20] Campos et al., op. cit.
Here, I would like to emphasise that the EPC should provide guidance for standardisation initiatives in the different domains (card-to-terminal, terminal-to-acquirer, acquirer-to-issuer, and certification and type approval) on which standards are to be used for SEPA. Equally important, the EPC should also provide guidance on how to implement them.