Dan Boyle (Cork South Central, Green Party)
Link to this: Individually | In context

Question 94: To ask the Minister for Enterprise, Trade and Employment if his Department has studied the likely effects of the new rules on cross-border banking, which are due to come into effect in 2008, on competition in the banking sector here; and if he will make a statement on the matter. [12190/05]

Micheál Martin (Cork South Central, Fianna Fail)
Link to this: Individually | In context

I understand that the new rules are part of the ongoing development of a single euro payment area, which will facilitate cross-border payments such as credit transfers and direct debit payments. As such, the new rules are primarily the responsibility of the Minister for Finance.

With regard to the effect of the rules on competition, I have not undertaken any study. However, I hope that the rules will enhance competition by easing access to markets and facilitating the payment by consumers for products and services across the EU.