The scope of the project will be determined by taking into account the results of a public consultation. The Governing Council will then decide on the subsequent development phase by early 2008. III. Conclusion  This brings me to the end of my presentation and I would like to conclude with the following remarks.
From my presentation, you may have noticed the many different facets that, together, contribute to financial integration and shape the European financial system. Since central banks are at the core of financial systems, they closely follow developments which can foster their integration.