In this context, the authorities should consider how the new directive and derived regulatory technical standards will work in conjunction with instant payments. Moving beyond the legal requirements, I also encourage market stakeholders in the Euro  Retail Payments Board to agree on the technical, operational and business requirements. The success of this endeavour can be achieved in a spirit of cooperation. Thank you.
We need a) a still deeper forex market, b) buyers and sellers who engage in forward trade and have abandoned the "euro costs what it costs" principle, c) exchange dealers who trade exclusively with banks.