Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-242-250"
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"en.20120214.15.2-242-250"2
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"The proposal to create an internal market for payment services, in which there is no distinction between national and cross-border payments, is aimed at simplifying and reducing payment costs in euros throughout the European Union. This initiative began in 2008, but progressed very slowly. Therefore, on 16 December 2010 the Commission published its proposal for a regulation, in order to establish deadlines for a ban on inter-bank fees and their transfer to the SEPA (Single Euro Payments Area) structure. In addition to simplifying payments and making them more accessible to citizens and businesses, potential benefits to the European economy could amount to EUR 100 billion to EUR 300 billion in six years’ time. I believe that the transition period for replacing existing national payment systems with a single EU-wide system, common standards and technical requirements should be as short as possible. Within the framework of multilateral interchange fees, the Commission proposed that only R-transaction fees be retained, and that other transactions should become free of charge. I welcome this proposal, because the proposed changes will keep the ambitions set out in the Commission’s proposal, and will also ensure a high level of consumer protection and protection of well-established national practices in this field."@en1
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