Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-234-500"

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"− I voted in favour of this report because it aims to establish a Single Euro Payments Area throughout Europe, otherwise known as SEPA. SEPA is an area in which the same conditions apply to payments in euro within and across national boundaries, as if they were payments in euro within a country. Its aim is to increase competition and encourage new services. Once these rules have been properly implemented in the Member States it will be possible to carry out international payment transactions in euro as easily and quickly as local payments in euro. A single banking transaction system would make a significant contribution towards reducing charges for banking transactions, both for individuals and companies, while at EU level, according to the European Commission’s estimates, this would save around EUR 100-300 billion. The implementation of this initiative would also speed up international banking transactions carried out in euro. From 1 January this year such banking transactions must be carried out within a day and in future the aim is to ensure that such transactions are carried out in real time."@en1

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