Planned Pan-Euro System is Rife with Hope, Holes

Dumiak, Michael
June 2005
Bank Technology News;Jun2005, Vol. 18 Issue 6, p52
Trade Publication
This article reports that the European Union's bid to establish a single euro payments area by 2010 is a tough proposition, and one not likely to occur without a regulatory nudge in the right direction. The European banking industry must agree to incremental spending over the next six years on payments-related, cross-border transparency initiatives that will exceed $10 billion. This is beyond the already $6 billion per year being spent on European payment infrastructures. Hence the projected drop in total revenue and the squeeze on margins.


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