Slow progress on SEPA

Abstract

The Single Euro Payments Area (SEPA) complements the benefits of the single currency and is a logical continuation of the integration process. If the objective is to achieve a true single economic area and the benefits it will generate, payments must be a part of the process. SEPA migration has progressed slowly even though the common principles are close to being finalized. In Finland, SEPA migration will be completed nearly on original schedule. Most countries will not achieve this target.