Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-24-Speech-5-022"
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"en.20090424.3.5-022"2
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"Madam President, ladies and gentlemen, first of all I would like to express the Commission’s appreciation of the speed with which Parliament has dealt with these two issues, which are so important, and on this point I would like to thank both the rapporteurs and Mrs Berès, chairman of the Committee on Economic and Monetary Affairs, for making a crucial contribution to the speed of the work.
We are now only a couple of months away from the final deadline for transposition by the Member States of the directive on payment services. These two measures, alongside the noteworthy efforts of the payments industry to develop SEPA products, constitute a crucial and timely step towards the completion of the single market for payments. These measures, together with the directive, will complete the legal basis which is indispensable in providing clarity, certainty and stability to the market. The negotiations that have been conducted in recent weeks have made it possible to obtain a very rapid agreement concerning these two issues.
With regard to the revised regulation on cross-border payments, I am pleased to announce that the Commission endorses the proposed amendment, which has come about as a result of a compromise. The Commission is particularly pleased by the inclusion in its original proposal of articles governing the matter of the multilateral interbank fee for direct debit transactions. The market was looking for these provisions and we consider them to be vital for a timely launch by European banks of the SEPA direct debit.
These rules will give the payments industry three years to put forward a long-term commercial model for automated debits that abides by competition rules. In a spirit of compromise, the Commission is willing to replace the unconditional removal of these obligations with a review clause, as proposed by Parliament and the Council.
With regard to the revised directive on electronic money, this is a particularly ambitious piece of legislation that will offer a well-received second chance for the establishment of a market in electronic money that will be genuinely useful. The directive aims to provide the market with a clear and balanced legal and prudential framework, removing unnecessary, disproportionate or excessive barriers to market entry and making the business of issuing electronic money more attractive.
The new directive should promote genuine and effective competition between all market participants, and at the same time ensure equal conditions for all payment services providers and a high level of consumer protection. The compromise reached establishes an excellent balance, fully protecting our initial objectives and at the same time providing an appropriate response to the legitimate concerns expressed during the adoption process. We therefore fully support this proposal."@en1
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