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ECOFIN Ministers agree to single payments area - source


Published : Tue, 27 Mar 2007 11:40
By : Agencies
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BRUSSELS (AFX) - EU finance ministers have backed the European Commission's proposals to create a single European payments area, a source said.

'The payments services directive was approved, with adjustments, unanimously,' the source said.

The measures will see the introduction of a single area for cross-border non-cash payments within Europe, with EU internal markets commissioner Charlie McCreevy saying it will save consumers up to 100 bln eur per year.

victoria.main@afxnews.com

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