Instead, it is perhaps time to draw conclusions from the fact that the collection of statistics, particularly the increasingly automated retrieval of statistical data from the ledgers of larger corporations, is typically characterised by significant economies of scale. Similarly, significant efficiency gains would be reaped if sample sizes for statistics, particularly the very timely, high frequency statistics, are attuned to European needs.
Having introduced this quaint historical economic law, I would now like to put it aside for a moment and move on to the main subject of my talk today, which is the regulation of the retail payments system.