SEPA / Extension

Key points

The EESC:

• welcomes this proposal, which aims to reduce the cost of cross-border payments in euro in the non-euro-area Member States;
• urges that the proposal be rapidly implemented;
• considers this deepening of the single market and its positive economic impact to be important;
• welcomes that the initial objective of the SEPA - for all payments in euro in the EU to be regarded as domestic payments - will thus be achieved;
• calls for a greater focus on the cost to the banks arising from this proposal;
• considers new, additional transparency requirements to be appropriate, as they will enable consumers to make the appropriate choices regarding these transactions, at a fair price;
• points out that, there is undoubtedly a great opportunity here for fruitful and clear communication with all citizens in the Union to explain how the EU brings positive changes for all and solutions for day-to-day problems.

For more information please contact the INT Section Secretariat.