THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY
Adoption of the single currency, euro, on 1 January 2002, in 12 countries, then in other seven states, represents a step towards closer economic and monetary integration in the European Union. The banking market remains fragmented after euro adoption and cross-border transactions in the single curre...
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| Format: | Article |
| Language: | English |
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Romanian Foundation for Business Intelligence
2015-04-01
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| Series: | SEA: Practical Application of Science |
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| Online Access: |
http://seaopenresearch.eu/Journals/articles/SPAS_7_69.pdf
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| _version_ | 1818286524407480320 |
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| author | Mihaita-Cosmin POPOVICI |
| author_facet | Mihaita-Cosmin POPOVICI |
| author_sort | Mihaita-Cosmin POPOVICI |
| collection | DOAJ |
| description | Adoption of the single currency, euro, on 1 January 2002, in 12 countries, then in other seven states, represents a step towards closer economic and monetary integration in the European Union. The banking market remains fragmented after euro adoption and cross-border transactions in the single currency involves high costs and long periods of settlement and clearing. European Union response to this problem came in the form of the Single Euro Payments Area. The objective of the papers is to analyze the degree of implementation of SEPA in Romania and to investigate the impact on banking efficiency. The results showed low degree of implementation, especially on direct debit, but Romania hasmore time until October 31, 2016 to make the necessary changes. The consumers will benefit from a quicker settlement and clearing and at lower costs. |
| first_indexed | 2024-12-13T01:25:58Z |
| format | Article |
| id | doaj.art-17fcbac859464d9599d57338a112078e |
| institution | Directory Open Access Journal |
| issn | 2360-2554 |
| language | English |
| last_indexed | 2024-12-13T01:25:58Z |
| publishDate | 2015-04-01 |
| publisher | Romanian Foundation for Business Intelligence |
| record_format | Article |
| series | SEA: Practical Application of Science |
| spelling | doaj.art-17fcbac859464d9599d57338a112078e2022-12-22T00:04:08ZengRomanian Foundation for Business IntelligenceSEA: Practical Application of Science2360-25542015-04-01III7 (1/2015)479484seapas:y:2015:i:7:p:479-484THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCYMihaita-Cosmin POPOVICI0 Alexandru Ioan Cuza University of Iasi, Doctoral School of Economics and Business Administration Adoption of the single currency, euro, on 1 January 2002, in 12 countries, then in other seven states, represents a step towards closer economic and monetary integration in the European Union. The banking market remains fragmented after euro adoption and cross-border transactions in the single currency involves high costs and long periods of settlement and clearing. European Union response to this problem came in the form of the Single Euro Payments Area. The objective of the papers is to analyze the degree of implementation of SEPA in Romania and to investigate the impact on banking efficiency. The results showed low degree of implementation, especially on direct debit, but Romania hasmore time until October 31, 2016 to make the necessary changes. The consumers will benefit from a quicker settlement and clearing and at lower costs. http://seaopenresearch.eu/Journals/articles/SPAS_7_69.pdf SEPAImplementationEfficiency |
| spellingShingle | Mihaita-Cosmin POPOVICI THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY SEA: Practical Application of Science SEPA Implementation Efficiency |
| title | THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY |
| title_full | THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY |
| title_fullStr | THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY |
| title_full_unstemmed | THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY |
| title_short | THE IMPLEMENTATION OF SINGLE EURO PAYMENTS AREA IN ROMANIA AND THE EFFECTS ON EFFICIENCY |
| title_sort | implementation of single euro payments area in romania and the effects on efficiency |
| topic | SEPA Implementation Efficiency |
| url |
http://seaopenresearch.eu/Journals/articles/SPAS_7_69.pdf
|
| work_keys_str_mv | AT mihaitacosminpopovici theimplementationofsingleeuropaymentsareainromaniaandtheeffectsonefficiency AT mihaitacosminpopovici implementationofsingleeuropaymentsareainromaniaandtheeffectsonefficiency |