And a lot will obviously also depend on the ability of advanced  6  BIS central bankers’ speeches  economies, starting with the euro area, to learn the appropriate lessons from the current sovereign debt and banking crisis. The speed and scope of this process will depend on decisions of policy makers and market participants in the various parts of this world.
As the technology becomes more pervasive, and the benefits from accessing it expand, so too the costs associated with constraints on its use must grow. Moreover, it is difficult to limit international financial transactions when domestic financial transactions are being freed.