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European Commission, central bank team to promote SEPA

May 18, 2006

Datamonitor:The European Commission and Europe's central bank announced that they are jointly supporting the single Euro payments area ideal. The move is intended to encourage Europe's payments industry to increase its efforts to realize the European Union's vision by 2010. (Read SEPA-related articles here.) The support comes as the European financial services sector is believed to be dragging its heels on the issue.
The commission and the ECB see SEPA as an integrated market for payment services that are subject to effective competition and that see no distinction between cross-border and national payments within the E.U.

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