Their income-per-capita and productivity levels are still low relative to the euro area, which may have an impact on their inflation rates. Let me mention two particularly important economic challenges that the new Member States are confronted with on the road to the euro: price stability and fiscal policy. Price stability is an essential requirement for a successful monetary integration process.
Just yesterday, EPI announced that Wordline and Nets are joining forces. Even more, the European Commission and the Eurosystem highly appreciate the EPI’s efforts and will continue to support its endeavours. The instant payment vision is a necessary next step forward for the current payment system. Yet, a programmable digital euro could emerge as a game changer for European payments.