EU cross-border payments should work like domestic payments

The EPP Group in the European Parliament today welcomed a legislative proposal by the European Commission to make cross-border payments in Euros cheaper across the entire EU.

"EU cross-border payments should be like domestic payments. There should be no borders, additional payments or extra hassle when you pay or receive Euros within the EU, even if you are in a non-Eurozone country. The EPP Group will vote in favour of this. In the long-run, we should also look at non-Euro payments within the EU", said Burkhard Balz MEP, EPP Group Spokesman on Economic and Monetary Affairs, today.

Under current rules, there is no difference between a domestic payment and a payment within the Eurozone. Today's proposal aims to extend this to non-Euro countries when transferring Euros.