Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-04-19-Speech-1-113"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2004-04-19"^^xsd:date2
dcterms:Is Part Of	lp_eu:Single payment area2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20040419.9.1-113"2
lpv:hasSubsequent	lp_eu:2004-04-19-Speech-1-1142
lpv:speaker	lp:Helena Torres Marques2
lpv:spokenAs	member; ECON (2002-01-17--2004-07-19)3 substitute; Committee on Regional Policy, Transport and Tourism (2002-01-17--2004-07-19)3 member; Committee on Women's Rights and Equal Opportunities (2002-01-17--2004-07-19)3 unknown; Partido Socialista (1999-07-20--2004-07-19)3 member; Members from the European Parliament to the Joint Parliamentary Assembly of the Agreement between the African, Caribbean and Pacific States and the European Union (ACP-EU) (2002-02-06--2004-07-19)3 member; PES (2002-01-17--2004-07-19)3
lpv:translated text	"Mr President, Commissioner, ladies and gentlemen, in the previous legislature, the Euro was established as scriptural (non-cash) money. It has now, in the current legislature, become the currency of twelve countries of the European Union. The creation of the single currency does not, however, automatically mean that there is a single payment area, in which the same rules apply across the board. This is one of the major tasks facing the European Union in the next legislature. The Commission waited until the last possible moment for the banking system to establish self-regulation following the creation of the single currency. After the Euro’s inception in 1999, however, two markets were established for the purposes of payments – a national market and an international market. There was no internal market governed by domestic rules regulating payments in the new currency, which, although a single currency, functioned as a foreign currency, subject to commission and other foreign exchange charges. This situation was partially solved by Regulation No 2560 of December 2001 concerning electronic transfers and payments. Since then, self-regulation still does not appear to have worked; the directives have not worked either, as they must be transposed into the law of each country, and this has not been carried out at the same time or in the same manner. This is an area that requires rigorous rules to be applied simultaneously and uniformly throughout the internal market. It is therefore my opinion that only by establishing regulations can we give the citizens and companies the security that a payment system requires."@en1

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