Central Banking

ECB's Tumpel-Gugerell on the Lisbon Agenda

In the speech 'The Lisbon Agenda - what can banks contribute?' given on 23 February Gertrude Tumpel-Gugerell of the ECB said the creation of a single eurozone payments area will not just reduce banks' revenues but will also cut their costs.

"I have heard several banks expressing concerns about the risk of decreased profitability because of the SEPA. This argument assumes that the SEPA would negatively affect the revenue side of payment business. However, the possibilities of improving the cost

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