Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-11-14-Speech-3-336"

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"Mr President, the introduction of the euro has created great expectations with the citizens. One of those expectations is that when they use the euro in the relevant Member States, they will pay the same price for using means of payment other than cash. It is therefore unsatisfactory that shortly before the introduction of the euro, an adequate solution has still not been found to the problem of charges for cross-border payments. In this matter, a large proportion of the blame must be apportioned to the banks and financial institutions. Self-regulation in the sector appears not to be working. That is why I have great admiration for the efforts by Commissioner Bolkestein and rapporteur Peijs, who tenaciously worked to find a solution. There are sound arguments why banks should not charge anything at all for electronic cross-border payments. Current technology enables these payment transactions to be carried out at low cost and the same technology can also be used for cross-border payments. The use of different charges is not desirable and contravenes the concept of an internal payment market and a common currency. For banks, electronic payment means a saving since less labour-intensive PIN payments are encouraged. I therefore support the view of the European Commission and rapporteur Peijs, and hope that a prompt introduction of this measure will strengthen consumer confidence."@en1

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