SINGLE EURO PAYMENTS AREA – STRATEGIC VALUE ON THE HIGH DEGREE OF INTEROPERABILITY FOR ALL ACTIVE PARTICIPANTS IN THE FINANCIAL TRANSACTION MARKET
SINGLE EURO PAYMENTS AREA – STRATEGIC VALUE ON THE HIGH DEGREE OF INTEROPERABILITY FOR ALL ACTIVE PARTICIPANTS IN THE FINANCIAL TRANSACTION MARKET
Author(s): Laurentiu Dumitru Andrei, Petre BrezeanuSubject(s): Economy
Published by: Editura Universităţii Vasile Goldiş
Keywords: European integration, payment systems, scale economies, efficiency,competition, financial markets, Regulation, Single Euro Payments Area (SEPA), Payment Services Directive
Summary/Abstract: The introduction of euro currency in 1999 paved the way for policymakers - EU governments, the European Parliament, the European Commission and the European Central Bank - to adopt the SEPA initiative. This is a complex process that aims to integrate the euro payments market, integration that also takes into account Romanian State Treasuries as payment service providers for local and central public administrations. In this context, premises were created for developing an integrated financial market that would allow a better use of capital and an accelerating economic development in the EU.
Journal: Studia Universitatis Vasile Goldiş, Arad - Seria Ştiinţe Economice
- Issue Year: 24/2014
- Issue No: 1
- Page Range: 1-15
- Page Count: 15
- Language: English