EU close to agreeing single payment area switchover

EurActiv writes about a possible consensus that could emerge among the EU's institutions on setting a deadline for banks' switchover to the Single Euro Payments Area (SEPA) system. However, divisions persist among banks, insurers and others regarding certain features of the proposal, notably on the modality of the switch and various national waivers.

Senior officials and politicians representing the Hungarian EU Presidency, the European Parliament, the German Finance Ministry and the European Commission seemed ready to set a deadline for the SEPA switchover at a panel debate organised by Deutsche Bank on 12 April 2011.

• Primary Source

ESO: Background information: Brussels sets deadline for pan-European payment system http://www.europeansources.info/record/brussels-sets-deadline-for-pan-european-payment-system/

ESO: Background information: Website: Single euro payments area (SEPA) http://www.europeansources.info/record/website-single-euro-payments-area-sepa/

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