For this purpose, I would appeal to start thinking from this moment on of future projects in the payment infrastructure. I personally will insist that even in this direction we should focus as a banking system on the European Union directives, so that to orient every step in the future towards the country’s integration in the European Union. Short time ago I was informed about a new initiative of EU, which requires establishing within a certain period of time, a unified payment system within the euro area, including payments with cards. For this purpose, I would suggest that respective specialists from the Association and Bank of Albania be informed as soon as possible about this project and they should come out with their relevant suggestions. Also, I remain persistent in my position that we have to adopt in Albania the most advanced solutions for all the infrastructure projects we are going to implement. I believe that we don’t need to examine and consider old-fashioned models, which besides the initial cost would require all the time new funds for their maintenance and modification. In addition, now when the public administration became a client of the system, I think that there are real opportunities to solve the payments of utility services through the banking system. Returning to the financial markets, I think that in spite of the above-mentioned restrictions there is room for improving competitiveness among banks even under the current conditions.
Limited losses on subprime loans ultimately led to the destruction of millions of jobs throughout the world, and the links between finance and the real economy were cruelly laid bare. ii)  But finance can certainly not be considered “all powerful”: in my opinion, the world of finance only has the political power that State governments choose to give it. •  Granted, the difficulties some countries were facing, notably in the euro area, were exacerbated by financial market pressures – think back to the attacks on Italian debt in the summer of 2011. But if the markets were able to exert this pressure, it was because those countries had, in a sense, put themselves at their mercy by demanding that they finance their ever-expanding public deficits, even during periods of growth. •  In nearly all the crises faced by the euro area since 2009, it is true that market reactions were often brutal and even extreme. But these reactions were frequently based on legitimate fears: for example the sustainability of Greek debt, weaknesses in the institutions of monetary union and divergences in competitiveness between euro area Member States. Again, it was by failing to make the necessary efforts (to ensure budget discipline, preserve competitiveness or finalise the institutions of a European financial union, for example) that these countries put themselves in a position to be rushed or even pressured by the markets and bear the consequences of their overreaction. Governments should not use finance as an alibi or as a scapegoat.