The logical next step of the introduction of the euro, a single cash instrument, is the introduction of single non-cash payment instruments facilitating greatly payments in euro across the single currency area and beyond. Obviously, the euro was not realized in one day. But once introduced, it became our currency replacing the currencies of the participating member states. The same should apply to SEPA.
We cannot assume implementation over night but we do not have another 30 years to complete the euro introduction. Hence, SEPA payments instruments (SCT and SDD) must become the payments instruments for euro payments fully replacing national legacy instruments. Since the publication of the sixth SEPA progress report in November 2008, a number of major milestones have been reached in the SEPA project.