Commission Eyes Euro Reforms To Shift Power From United States

The European Commission sees an integrated eurozone payment system as a central pillar in its battle to boost the role of the euro and challenge the supremacy of US card schemes, documents released by Brussels show.

The commission said it will “work with relevant stakeholders on a joint commitment to ensure the wide availability of instant payment services for customers, including for cross-border payments”.

In statement to the European Parliament, Council and other institutions, it said it would “explore measures in order to facilitate the cross-border use of payment solutions developed in individual member states”.

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