Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-23-Speech-1-081"

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". Mr President, the proposed directive is certainly appropriate and justified. Nonetheless, it gives rise to a series of concerns. The creation of payment institutions raises the issue of whether they will act according to the principle of maximising profit or in the interests of the public good. These two approaches are mutually exclusive. The question then arises as to whether genuine increased competition between institutions will ensue, or whether concentration of the payments market will occur within a short time period, with the emergence of an oligopoly. If so, then it is fundamental to introduce this solution for countries in the eurozone. The new Member States will then have an opportunity to assess whether the system introduced is beneficial or not. They will also be able to gain an appreciation of the cost of introducing such a system. The cost is likely to be relatively high in view of the software and monitoring required, and is difficult to estimate at present."@en1

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