6 In this respect, it is important that European governments and EU institutions follow up on the recent call of the European Council for the establishment of “one-stop” arrangements in each Member State which would allow the setting-up of a company in one week by end-2007.
This interest stems not only from our oversight responsibility for systemically important payment systems under the Payment Clearing and Settlement Act, but also from the important role these systems play in the transmission of monetary policy. Indeed, working with you and other stakeholders to improve payments falls squarely within our mandate to promote the economic and financial welfare of Canada.