Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-236-500"
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"en.20120214.15.2-236-500"2
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We will finally have a genuine Single Euro Payments Area (SEPA) which will make cross-border payments as easy as domestic payments. Shorter payment times, improved cash management for our businesses and individuals, lower costs related to these payments and their processing, new markets: these are the advantages of this unified European system
On the other hand, it will reduce the level of demand and operating costs associated with administrative services. The impact assessment notes that possible benefits to the European economy could amount to EUR 100 billion to EUR 300 billion in six years’ time.
National credit transfer and direct debit electronic payment schemes should be phased out 12 and 24 months after the entry into force of the regulation respectively."@en1
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