Cœuré concerned over 'big bang’ payments migration
The largest eurozone member states will probably migrate to the Single Euro Payments Area (Sepa) "at the same time and at the last minute", according to Benoît Cœuré, a European Central Bank (ECB) executive board member.
Cœuré today laid out the operational risks that could arise as a result of this approach, and called on payment systems providers and users to engage more intensively with national authorities to prepare for the changeover on February 1, 2014.
The Eurosystem began pursuing an
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