Monetary policy alone – even if it is well designed and fully successful in monitoring price stability – cannot solve Europe’s economic problems. Appropriate structural reforms implemented by national governments are of the utmost importance. Much progress is required in this broad area.
It is very clear that both individuals and businesses are demanding greater immediacy and greater accessibility in all facets of their day-to-day activities. This includes payments. People expect to be able to book an airline ticket and choose their seat at any time of the day or night.