The decisions on this and certain other matters have been deferred, however, and will now be taken by those countries that join the euro area from the start. TARGET is to be tested this summer and is to be fully ready for use by 1st January 1999. Summary and conclusions Most of the evidence today suggests that the economic and monetary union will move to Stage Three on 1st January 1999. For Sweden the question is whether we should join the euro area from the start, wait a while or try to remain outside for good. I hope that we will soon be having a more lively debate on this very important issue. The question of EMU has now been largely examined and discussed by the financial sector, the authorities and big businesses. The time has come to spread the debate and information to other groups in society. In time the krona will lose ground Even if Sweden decides to stay outside, the single currency will affect us. Our analyses, together with other organisations, of what might happen in that event point to a relatively sizeable use of euro, particularly in the securities market. In time, the use of euro may spread like water rings to other parts of society. The extent to which the euro is used will among other things depend on its strength relative to the krona but also on market assessments of the probability of Sweden joining.
I would therefore like to extend my sincere thanks to the organisers of the Sibos event for this excellent opportunity to share ideas. As home to many international organisations, Geneva is an ideal location for this dialogue. We are certain to find fertile ground here. I wish you all a successful conference with many enlightening discussions. 11  Cf. FINMA press release ‘FINMA reduces obstacles to FinTech’, 17 March 2016. Page 6/6