Some commentators suggest delaying the 1 February 2014 deadline in the euro area for migration to the Single Euro Payments Area ( ), mandated with the Regulation ( ) 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro (the Regulation), due to the euro crisis. This Blog is a friendly reminder that only the European Union ( ) legislator could change this deadline. In this blog, Chair Javier Santamaría analyses whether there are any indications that the legislator intends to change Article 6 of the Regulation, which stipulates the deadlines for compliance with the core provisions of this legislative act, as a result of the euro debt crisis at this stage in the process. The recommends taking action now to ensure compliance with the Regulation in the euro area by 1 February 2014.
If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.