Vice-President Michel Barnier welcomes major milestone for the internal payments market with the migration to SEPA (Single Euro Payments Area)
Today, a big part of the Single Euro Payments Area has become reality. In all euro countries citizens have now available a common and simple way to pay at home and across borders.
Single Euro Payments Area (SEPA) becomes fully operational in all Eurozone countries as per tomorrow 1 August 2014
The Single Euro Payments Area (SEPA) creates a true European Single Market for retail payments in euro where transfers, direct debits and payments between Member States are as easy and fast as the equivalent domestic transactions. It will become fully operational in all eurozone countries on 1st August 2014.
Another step in the finalisation of the Banking Union’s architecture: publication of Single Resolution Mechanism (SRM) Regulation
Today, the Regulation establishing a Single Resolution Mechanism (SRM) for the Banking Union has been published in the Official Journal of the EU, only one year after the European Commission presented its proposal. The Single Resolution Mechanism will allow for the timely and effective resolution of cross border and domestic banks, over a weekend if necessary. The Regulation will enter into force on 19 August.
The Directive will foster the creation of a real single market for retail financial services bringing numerous benefits to EU citizens by providing them with a right to a basic payment account irrespective of their place of residence or financial situation.
The summary report published today provides a qualitative overview of the input received from a wide range of stakeholders, including consumers, rights holders, business and institutional users of copyright works, collective rights management organisations and governments.
Langfristige Finanzierung für Infrastrukturvorhaben [Long-term investment for infrastructure] – Article
“We need new instruments that are better suited for long-term financing and especially for infrastructure projects”. Vice-President Barnier explains what the EU has done in this respect. Article by Michel Barnier, Börsen-Zeitung.
The Scoreboard provides country-specific information and analyses in detail how certain governance tools function and policies are applied in each country. The scope of the Single Market Scoreboard has been extended to two specific policy areas: public procurement and postal services.
“Strengthening sanctioning regimes against market abuse is one of the key elements of the EU’s financial sector reform”. Foreword by Commissioners Viviane Reding and Michel Barnier
The Communication on unfair trading practices (UTPs) in the food supply chain is addressed to stakeholders and Member States.
The Commission launches public consultation on a possible extension of geographical indication protection to non-agricultural products. Names such as champagne or prosciutto di Parma (Parma ham) that identify agricultural products with specific characteristics attributable to their place of origin are protected at EU level.
Commission recommends principles to ensure effective protection of consumers in the online gambling services sector
The European Commission adopted the Recommendation on principles for the protection of consumers and players of online gambling services and the prevention of minors from gambling.