Gertrude Tumpel-Gugerell: SEPA for cards Speech by Ms Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank, at the EFMA Conference on Cards and Payments “SEPA calls for an additional European card scheme”, Paris, 9 September 2008.
Firstly, it has new financing sources in that the financing will come from the world’s major developing economies, within the framework of new South–South co-operation. Secondly, the financing is largely devoted to meeting the needs of developing countries for infrastructure development.