To conclude on structural reforms, I think the key issue now is to bridge the gap between strategy and implementation in Europe - to identify the best policy practices and make structural reform happen.
3/4  BIS central bankers' speeches  For PSD2 to achieve its objective regarding access, innovation and a level playing field, it is important that several aspects of the legal and regulatory framework are clarified and implemented in a consistent manner – in particular when PSD2 takes effect in January 2018 and the respective RTS Iater in 2019.