A suggestion which respects the views of the competition authorities, but also takes into consideration three further aspects: First, the importance of getting the SEPA direct debit scheme launched by November 2009, second, the need to create a level playing-field between the national and the SEPA direct debit scheme in the short to medium term, and third the time banks still need to develop a possible new compensation model.
4  Figure 1: The Money Tree  A central bank digital currency could take many different forms. So in order to explore the pros and cons of a digital currency issued by a central bank, I will set out six assumptions regarding the type of digital currency we are discussing today.