Further progress could then be achieved, for example, by stepping up the consistent use of international standards and the ECBS norms, which are not dependent on specific formats, for the national side of settling cross-border payments, that is to say, by using them in the country in which the principal is domiciled and in the country of the ultimate beneficiary.
In my opinion, there is an urgent need for action in the field of retail payments. I very much prefer a market-oriented approach. As far as possible, the banking industry and the central banks should reach voluntary agreements on efficient cross-border payments.