Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-24-Speech-2-195"
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"en.20070424.43.2-195"2
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".
Mr President, I have voted in favour, because I believe that the internal market works, and that payment services do too. If the Single European Payments Area initiative is properly implemented, it should lead to increased competition within a larger market, with higher levels of security, better services and attractive prices. We could call this ‘the best service at the lowest cost’.
I have one reservation, though. In countries with more advanced payment markets, such as Belgium – but we are not alone – there is the fear that the conversion from existing national payment schemes could lead to extra costs for businesses and consumers. Reference is made in this context to the level of the so-called ‘interbank settlement payments’.
In response to a question in writing in relation to this issue, the Commission has assured me that it will monitor the respect for competition rule and will retain the right, if necessary, to take regulatory action. I am relying on the Commission availing itself of the correction mechanisms that are at its disposal, should this prove necessary.
I hope, above all, that the bank sector will be smart enough to make this unnecessary and to lend its all-out cooperation to the further unification of the internal market for financial services."@en1
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