EU Payments Integration - The Tale of SEPA, PSD and Other Milestones Along the Road

The Payment Services Directive (PSD) stands out as a hugely ambitious and strategically important regulatory intervention in the financial services arena. It is the legal lifeblood which is expected to sustain the Single Euro Payments Area (SEPA) and the broader integration of the EU payments market. This book provides an insider's view of the forces which have shaped SEPA and the PSD, written from the unique perspective of someone closely involved throughout the whole process. It uncovers the strategic, legal and practical implications of the full harmonisation agenda and provides an assessment of where these initiatives stand today. Furthermore, it explores parallel developments in other areas around the world that have been inspired by the European experiment. Essential reading for all those involved in, or studying, the evolution of the European and global payment markets – and more generally for anyone interested in a topical and lively case study of EU integration and law-making in action.

List of Tables List of Figures Foreword by Gertrude Tumpel-Gugerell About the Author Acknowledgements Glossary Title I – The Opening Act: The beginning of the end … or just the end of the beginning? Title II – EU Financial Regulation Explained: The Powers and the Pitfalls Title III – SEPA: A reaction to EU Regulatory Activism: A New Hope Title IV – PSD – a Parallel Universe to SEPA: The Odyssey from the First Beginnings to the Final Text Title V – From Publication to Transposition - The Directive Dilemma: The Road to Nowhere Title VI – SEPA: From Design to Launch: Finding Your Way through the SEPA Jungle Title VII – Postlude: The Future for European Payments in a Global Context Conclusions Useful Websites Notes Index