SEPA has being having such a difficult birth, but EBA Day has highlighted that the Spanish are showing the way
The presentation by Soledad Nunez, General Director of the Treasury and Financial Policy, Treasury of Spain showed how governments can lead the way with a quite staggering, 100% SEPA central government payments.
In a lunchtime debate several banks told me that they are unable to innovate and come up with new revenue or business as they begin to see their protected payments space go over the hill. Quite different from the conference call for leadership.
If all EU Governments followed the Spanish example then SEPA would already be providing consumers with tangible benefits and who knows they may put presuure on banks to lower prices and improve services. This is a scarry proposition if banks say they can't
Wait for the banks and you will wait forever but take the Spanish line and we may finally see SEPA achieve the benefits outlined by Brussels.