That’s why this discussion is also taking place at the G20 level, and I would argue it should go beyond the G20 perimeter so we can reach out to developing countries too. We very much count on the IMF and the World Bank to help us on that. Are any jurisdictions more vulnerable than others?
The stakes are probably higher in small, open, developing economies. On the one hand, they may enjoy more potential benefits in the form of cheaper and faster payments, in particular for cross-border payments and remittances, and more financial inclusion.