Central Banking

ECB warns of "downbeat attitude" on SEPA

The European Central Bank has published its sixth progress report on the implementation of the Single Euro Payments Area.

The report notes: "Despite mostly positive developments since the publication of the 5th Progress Report in July 2007, the eurosystem has observed that motivation for the project has been fading away among market participants, and that the constructive spirit of the preparation phase has turned into a downbeat attitude."

The report proceeds to identify and discuss ten areas

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