Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-07-03-Speech-4-124"
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"en.20030703.5.4-124"2
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".
I profoundly regret the fact that Parliament has not called for a report devoted exclusively to the first assessment of the introduction of euro notes and coins. I proposed such a report, incidentally, in my motion for a resolution () on the effects of the introduction of the euro, which is annexed to today’s report. While this report emphasises the success of the entire operation and insists on wider powers for the Eurozone, it also expresses disappointment with the inflationary pressures of the changeover to the euro, particularly in the services sector, and calls for an investigation into financial irregularities, just as I did in my resolution.
The Commission and the ECB recognise that the impact was greater than the 0.2% predicted but considerably smaller than the effects experienced by consumer organisations and than the information on inflation reported by some national central banks suggested.
Nevertheless, the report discusses developments in bank charges and commissions in the euro zone. A full assessment is needed to investigate the introduction of excessive increases, especially for domestic payments, and illegal charges on crossborder payments. Such charges penalise consumers and increase the cost of transactions. Banks cannot expect consumers and SMEs to meet the cost of lost foreign exchange revenues. I therefore welcome the fact that my amendment has been adopted."@en1
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