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SEPA a rule of convenience

SEPA is going to get a firm date at last but where are the sanctions for countries who don't comply? I have said this many times before but rules without a penalty are not worth writing. It's of course the European way to be collaborative and well, just nice, but this is hardly a frightening prospect for great big hairy global bankers.

However, let's be a little positive and say that after nine or a million years of yearning SEPA looks like it's finally going to happen. Millions of people have died while SEPA has been arriving and at EBA Day you can't help but feel the relief.

One very positive from my last EBA Day visit was the very warm and close relationship that has sprung up between the EPC, EBA and the Banks. This has to be lauded after so many years and bodes well for the future development of the European financial markets. But didn't it take a long time though.

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Gary Wright

Gary Wright

Analyst

BISS Research

Member since

19 Sep 2007

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London

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This post is from a series of posts in the group:

EBAday

EBAday is the annual event for European payments professionals organised by Finextra and the Euro Banking Association. This community has been created to deliver a forum for EBA delegates to exchange views on instant payments, open banking and new developments in payments processing and technology.


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