Implementing the Services Directive could rise economic output by some 2.6% in five to 10 years, MEP Anna Maria Corazza Bildt told EURACTIV ahead of an EU leaders meeting in Brussels dedicated to growth.
The EU plans to boost cross-border venture capital investment by preventing double taxation for funds working in more than one European country.
A key committee in the Parliament backed a proposal, on 12 April, to slash costs for mobile phone customers using their handsets in other EU countries and to make the cheaper rates apply automatically to all users.
Internal Market Commissioner Charlie McCreevy has given the Financial Services Industry six months (until mid-March 2006) to cut the costs of trading securities between EU countries.
Antonio Fazio, the governor of the Italian
central bank, has denied that Italy is operating an
"anti-foreigners" policy regarding banking mergers.
Internal Market Commissioner McCreevy has
announced that he will be pushing for an integrated cross-border
market for mortgages, but not necessarily via legislation.
From 1 July 2002, the cost of euro cash withdrawals in other Member States should be the same as in the home Member State as the Regulation on cross-border payments in euros enters into force.
The European Parliament on 13 December adopted, without amendments, the Regulation that states that charges for transactions in euros within the EU should be the same across borders as within a single Member State.
The European Commission decided to fine five German banks a total of 100,8 million euro for allegedly fixing the charges for the exchange of euro-zone currencies.
The Parliament voted that charges for transactions in euros within the EU should be the same across borders as within a single Member State. The Commission agrees with the Parliament's three amendments.
According to a new study conducted for the Commission, banks and credit institutions in the EU still charge excessive fees for cross-border credit transfers within the EU. The European Banking Federation says that its research shows results contrary to those of the Commission.