THE SINGLE EUROPEAN PAYMENTS AREA (SEPA): THE CURRENT PAN-EUROPEAN CHALLENGE
THE SINGLE EUROPEAN PAYMENTS AREA (SEPA): THE CURRENT PAN-EUROPEAN CHALLENGE

Summary/Abstract: This paper concentrates on the current development of the Single European Payments Area (SEPA), which is envisaged to be in operation by the time Bulgaria accedes to the European Union (EU). For banks and financial institutions in general, this is seen as a tremendous challenge, not only for existing EU members, but also for acceding countries such as Bulgaria and Romania. It will change the entire face of financial markets in Europe, both within and without the Euro-zone.

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