Offering instant payment services at the European level ensures that any bank account holder in Europe can be reached. It minimises the potential risk of the payments market fragmenting. As settlement in TIPS takes place in central bank money, it also eliminates credit risk for the participating banks.
Taking these factors into account, most private economists believe that Japan’s GDP growth rate will turn positive again from the third quarter of 2011 onward. Moreover, from a longerterm perspective, new demand is expected to emerge.