Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-10-Speech-3-968"

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"en.20100310.19.3-968"2
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"The Single Euro Payments Area (SEPA) will be an integrated market for payment services, subject to effective competition and in which there is no difference between national and cross-border payments in euro. We should have established a legally binding time limit for the migration to SEPA instruments. Public administrations’ migration to SEPA is below our expectations. Therefore, it is important that all interested parties – legislators, the banking sector and the users of the payment services – be involved in the achievement of SEPA. The continued legal validity of existing direct debit authorisations should be ensured in all Member States, since the obligation to sign new authorisations during the transition from national direct debit systems to the SEPA system would be costly. Thus, the Commission must establish a clear, adequate and legally binding time limit for the migration to SEPA instruments, no later than 31 December 2012, after which all payments in euro will have to be made in accordance with SEPA norms. The Commission must aid public authorities in the migration process by developing integrated and synchronised national migration plans."@en1

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