A Short Essay on Cross-border Payment and Settlement in the EU

Download or read book A Short Essay on Cross-border Payment and Settlement in the EU written by Georg Schwedt and published by GRIN Verlag. This book was released on 2008-04 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Business economics - Miscellaneous, grade: 1,0, University of Hamburg, course: European and International Financial Markets, 16 entries in the bibliography, language: English, abstract: According to Art. 56 of the Treaty of the European Communities (EC Treaty) the Common European Market enjoys since its establishment in the year 1993 free movement of capital. Since 1999 the monetary union between 12 EU-states is in operation, since 2002 the euro exists as money. This essay examines the sector of payment and settlement systems within the Common Market, their situation and development towards the common goal of free movement and discover the obstacles. The situation and development assessment is divided into the individual payments sector and the bulk payments sector with. Finally the striking question is: Why does it take so long to integrate the payment sector?