Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-04-21-Speech-3-236"

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"en.20040421.8.3-236"2
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". The need to expand and complete the internal market requires payment services to be more efficient. The introduction, at the beginning of 2002, of Euro notes and coins has helped to make cash payments more efficient. The introduction of new systems – such as TARGET – for the banking sector has also streamlined cross-border transfers of large sums, with visible advantages for consumers, by adopting a coordinated approach to the security of transactions and to the efficiency and speed of the system. The shortcomings seen in the sector involving the cross-border transfers of small sums apparently reside in the inadequacy of the legal framework at European level that the Commission proposes to present, nevertheless, the structure of this framework – the form and number of legal instruments – is still not known. I welcome, in principle, the intention announced by the Commission, although I do agree with some of the rapporteur’s observations, in particular his warning that regulatory initiatives should be restricted to the ‘big picture’ and a number of selected areas, giving the economic operators themselves the necessary leeway for self-regulation."@en1

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