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:
“If people would forget about utopia! When rationalism destroyed heaven and decided to set it up here on earth, that most terrible of all goals entered human ambition. It was clear there’d be no end to what people would be made to suffer for it.”
—Nadine Gordimer (b. 1923)
“If you really think about it, everything is wonderful in this world, everything except for our thoughts and deeds when we forget about the loftier goals of existence, about our human dignity.”
—Anton Pavlovich Chekhov (1860–1904)
“Our ego ideal is precious to us because it repairs a loss of our earlier childhood, the loss of our image of self as perfect and whole, the loss of a major portion of our infantile, limitless, ain’t-I-wonderful narcissism which we had to give up in the face of compelling reality. Modified and reshaped into ethical goals and moral standards and a vision of what at our finest we might be, our dream of perfection lives on—our lost narcissism lives on—in our ego ideal.”
—Judith Viorst (20th century)