Close Up: SEPA - Le grande design
Payment methods between the 25 EU member states vary wildly in legislative regulation, cost and service levels. It has been estimated that the many processes involved in cross-border EU payments are costing up to 3% of EU GDP. The proposed solution is one of such audacious scale; experts have predicted that, if successful, it will be more significant than the advent of the euro.
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The Bottom Line:If Mr Cable has his way...
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