The economic advantages are obvious: Exchange costs will cease to exist in trade within the euro area. Exchange rates against the US dollar and the yen could become more stable. The financial markets could expand and intensify, to the benefit of creditors and debtors. But, above all - and this is the key factor - overall competition will increase.
It was further agreed that, as of the same date, the Netherlands Court of Audit would gain access to that part of the Bank engaged in national tasks. As part of the reform of financial sector supervision, it was decided that the Bank, as a supervisory authority, should cooperate more closely with the Pensions and Insurance Supervisory Authority (PVK).