This development is also covered and supported by European law and a corresponding legal framework – most prominently the revised Payment Services Directive (PSD2). In Brazil, too, new players are stirring up the financial industry.
As you are well aware, Poland, for instance, has signed the Euro Plus Pact and the fiscal compact. And the euro area is not a closed club: it is open to every EU Member State that fulfils the convergence criteria on a sustainable basis. Thank you. 4  BIS central bankers’ speeches