Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-11-15-Speech-4-104"

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"en.20011115.5.4-104"2
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". The European Union is made up of sovereign states, each with a seat in the United Nations and, so far, each boasting its own currency. The banks form part of national payment circuits and impose a heavy fine on cross-border payments and money transfers. From January 2002, twelve EU Member States will act as if they are one country financially speaking. The banks are in favour of this as long as this enlarges their own scope, but not if they have to forgo the additional payments from their customers. It seems appealing to demand that the costs for national and cross-border payments in euros should become the same. That has been Commissioner Bolkestein’s wish for a long time and is now also being proposed in the report by Mrs Peijs. I can endorse this, as long as it means that banks forgo their levies on cross-border payments. However, recital 5bis does not prevent new levies from being imposed on national payments by way of compensation for the fact that revenue from foreign payments has fallen by the wayside. Instead of imposing a heavy fine on a small minority of payments, including mainly business payments, all payments will then attract a minor fine. That means that the large majority of customers will incur higher costs. I shall vote against this, as this is highly detrimental to the ordinary account holder."@en1

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