Key Dates
| 1957 | Treaty of Rome creates the European Community |
|---|---|
| 1992 | Maastricht Treaty creates the euro |
| 1999 | Introduction of the euro as an electronic currency, including introduction of the RTGS system TARGET for large-value transfers |
| 2000 | Lisbon Strategy: Meeting creates European Financial Services Action Plan |
| 2001 | EC Regulation 2560/2001 harmonises fees for cross-border and domestic euro transactions |
| 2002 | Introduction of Euro banknotes and coins |
| 2003 | First pan-European ACH (PE-ACH) goes live; EC Regulation 2560/2001 comes into force for transactions up to €12,500. |
| 2006 | EC Regulation 2560 cap increases Euro transactions up to €50,000. |
| 2008 | SEPA pan-European payment instruments become operational (parallel to domestic instruments) on 28 January. |
| 2009 | Payment Services Directive (PSD) enacted in national laws by November |
| 2010 | SEPA payments become dominant form of electronic payments |
| 2011 | SEPA payments replace national payments in the Eurozone |
Read more about this topic: Single Euro Payments Area
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