It found that cash remained the most frequently used means of payment in 2013, though its use had declined noticeably over the previous three years. Cash accounted for 47 per cent of the number and 18 per cent of the value of all payments in 2013, down from 62 per cent and 29 per cent respectively in 2010.
Moreover, even the capital market depends on the profitability and competitiveness of the banking sector for its smooth operation and deepening, because banks are involved as both service providers and users at various stages of the securities and derivative intermediation chain. In this sense, the Capital Markets Union should be seen, not as an alternative, but as a complement, to a well-functioning Banking Union.