Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-04-Speech-3-220"
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"en.20080604.24.3-220"2
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"Mr President, I should like to thank the honourable Members once again for their work on this issue. The point has been made that we need transparency and a clear overview of what is entailed for the consumer. Quality is more important than quantity, but sometimes you need a bit of quantity to get the quality.
The Commission very much welcomes your clear support for the need for measures. We are aware that we have to improve the level of efficiency, and that we have to improve the functioning of the retail banking sector, which remains fragmented along national lines. That is not in line with the single market that we all believe in. Therefore, the retail banking sector – which is an open door – is of key importance to all of us, to all the consumers and to the economy as a whole. Parliament’s report reflects the importance which you too attach to this area.
Mrs Roithová talked about the situation in her country but mentioned that it was not only in her country that the high fees are often the result of a fragmented market with only a few players. The situation we found in the sector inquiry report, which I have already touched upon, is quite clear.
We think, and we expect, that the introduction of SEPA will provide an answer to many of the problems, because it will facilitate cross-border competition, and that is what is needed. It is a pro-market approach and it should work. We are, therefore, very much behind this initiative and are working with the industry to help SEPA reach its goals. Mr Sánchez Presedo rightly said that promoting competition is key to this whole approach, because if there is no competition then we are all aware that the banks are trying to pull our legs.
On the actual cost of payment cards, which Mrs Starkevičiūtė asked about, we share the honourable Member’s wish for more transparency in the market. Pro-competition means that we should be aware of what is going on in the market, and the fact that it was not clear why consumers benefited from this was one of the reasons for prohibiting MasterCard’s interchange fees – that was clear-cut. Our aim is to see fees which have clear and verifiable benefits to consumers.
Mr Klinz rightly talked about rights, and these are always combined with responsibilities: not only of the customers but also of all of us – the banks and all the players in the game. We need more transparency, we need to be clear what we are picking out. The changes to the market are hopefully leading in that direction."@en1
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