08 Jun 2007

One step closer to harmonised European payment systems

Pauli Lepistö / Marc Rothemund / Nicola Jentzsch

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ECRI Policy Brief No. 1 / 5 pages

Two years of intensive negotiations have ended with the adoption of the Payment Services Directive by the European Parliament in the first reading, and the proposed legislation is due to be adopted shortly by the EU Council. Thus, the process to create an integrated single market in financial services is one step closer to implementation. This Policy Brief underlines the importance of this legislation for the efficient functioning of financial services as well as the creation of a level playing field for competitors in the market.