Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-13-Speech-1-106-000"
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"en.20120213.17.1-106-000"2
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".
Madam President, ladies and gentlemen, firstly I would like to thank the rapporteur, Mrs Essayah, for her truly masterful and determined work. I would also like to thank all of the shadow rapporteurs. This report is an excellent example of how applying the Community method can achieve truly progressive results that further advance a common noble idea.
The organisation of cross-border settlements in euros was badly in need of common rules and understandings. The existing chaos, in which Member States used different approaches and rates, was detrimental to the consumer and clouded the spirit of the single market. At the same time, during all of this work one had to take into consideration the existing regulations in different Member States and seek compromises.
It is clear that every change has its price, and it takes time to adjust to changes. The Group of the Progressive Alliance of Socialists and Democrats in the European Parliament comprehensively based its activities on the objectives of European Union regulations, while at the same time emphasising the importance of defending functioning local practices that reach the consumer. It is for this reason that we have supported a single date in the implementation of the Single Euro Payments Area (SEPA). Here I would particularly like to emphasise some aspects proposed by the S&D Group over which agreements have been reached.
First, the topic of possible prices or price rises. Regardless of the fact that increasing competition in this sector should lead to lower prices, we recommended that the Commission should be particularly attentive in the initial phase of implementing the regulation. Second, administration of the SEPA was formerly solely under the control of the banks, whereas the regulation emphasises the importance of involving all parties in management and supervision. Third, the non-compulsory nature of bank identifier codes or long codes in domestic payments as of 1 February 2014 and in cross-border payments from 1 February 2016.
Fourth, the smooth transition from the basic bank account number (BBAN) domestic standard to the international bank account number (IBAN) international standard.
Fifth, the validity of old mandates, which has in all honesty saved us from possible legal ambiguities and was also altogether rational.
Sixth, the transition period applied to large-scale domestic systems. In conclusion I would like to say that the SEPA is a very good example of how collective effort achieves progress in a manner in which all parties win. It has been estimated that clients, banks and companies could save up to EUR 123 billion over six years thanks to the SEPA. This is certainly worthy of joint action, and we should have other similar undertakings in the future. Thank you very much for your attention."@en1
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