Volume: 6 Issue: 6
(June 2012)

Keywords:
sep progress under pressure europe battles eurocrisis financial crisis uncertainty future euro puts progress ambitious european payment integration plans

Jurisdictions:
Europe Spain London EU

SEPA progress under pressure as Europe battles with Eurocrisis

The financial crisis and the uncertainty about the future of the Euro puts progress of ambitious European payment integration plans, such as the Single European Payments Area (SEPA), increasingly under pressure. "The Spanish bail out and discussions about deeper Eurozone integration may slow down SEPA," said Michael McKee, Partner at DLA Piper in London, while Mark Taylor, Partner with Hogan Lovells, thinks that "the focus and priority of regulators and governments is inevitably drawn elsewhere. There is a risk that this may lead to a slower rate of progress."

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