Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-06-13-Speech-2-245"
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"en.20060613.27.2-245"2
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"On 12 April 2006 we published a preliminary report on the findings of the inquiry into competition conditions in the payment card sector in the EU. That report confirms that businesses and consumers do not yet benefit from a fully competitive internal market in payment cards. The large price differentials which exist within the single market are a clear sign of this. In the Commission’s view these price differentials, and the high levels of fees that are currently charged, indicate that there is scope for significantly reducing prices at least in some Member States.
The Commission is now holding a public consultation on the interim report. We will listen carefully to the views of all interested parties, including the industry and consumers before we draw any conclusions on the way forward.
If the preliminary findings on payment cards are borne out by this consultation, the Commission will consider action under EC Treaty anti-trust rules in individual cases. However, the Commission would also like to emphasise that it is important that market participants themselves help to tackle the problems identified in the inquiry. So it is now also up to them.
There is a considerable lack of transparency in the current market. The preliminary result of the enquiry into the sector provides all stakeholders with substantial information on how the market functions, and the Commission sincerely hopes that this will help players in the industry to correct some of the problems themselves.
The more the payment card industry does on its own initiative, the less it is likely to face action under anti-trust rules and, as we are aware, prevention is better than cure.
The honourable Member refers in particular to the situation in Greece compared with other Member States. The inquiry indeed found that the fees charged to consumers and businesses in Greece are above the EU-25 average. At present the Commission has deliberately refrained from identifying individual countries or networks or banks as negative examples in this sector. The Commission prefers to encourage a generally constructive debate with a view to finding solutions to the problems from among stakeholders and from within the industry itself. The Commission will keep Parliament informed of the conclusions it draws, following the public consultation, and of any further action it considers appropriate in the light of those conclusions."@en1
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