Goals
The project's aim is to improve the efficiency of cross-border payments and turn the fragmented national markets for euro payments into a single domestic one. SEPA will enable customers to make cashless euro payments to anyone located anywhere in the area, using a single bank account and a single set of payment instruments.
The project includes the development of common financial instruments, standards, procedures, and infrastructure to enable economies of scale. This should, in turn, reduce the overall cost to the European economy of moving capital around the region (estimated as two to three percent of total GDP).
Read more about this topic: Single Euro Payments Area
Famous quotes containing the word goals:
“Artists have a double relationship towards nature: they are her master and her slave at the same time. They are her slave in so far as they must work with means of this world so as to be understood; her master in so far as they subject these means to their higher goals and make them subservient to them.”
—Johann Wolfgang Von Goethe (1749–1832)
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—Philip K. Howard, U.S. lawyer. The Death of Common Sense: How Law Is Suffocating America, pp. 186-87, Random House (1994)
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—James Baldwin (1924–1987)