Abstract
The Payment Services Directive, commonly referred to as the PSD, was the result of a long process of legal drafting and political negotiation among the European Institutions as well as a plethora of market stakeholders. The story of this legislative text and the way it was created and finally implemented is one of the centrepieces of this book (though I hope this does not make you put it down now …). This Title provides a detailed insight into the first stage of the PSD — its creation. The following analysis also serves as a case study of EU law making in practice and in doing so is intended to highlight how various steps and procedures leading up to the delivery of EU legislation could be enhanced to further improve regulatory output — and therefore implicitly Europe itself.
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Notes
EC, ‘Directive 2007/64/EC on Payment Services in the Internal Market’, Brussels, 13 Nov 2007, Article 16(2) ‘Activities’, p.16.
EC, ‘Directive 2007/64/EC on Payment Services in the Internal Market’, Brussels, 13 Nov 2007, Article 9(1a) Safeguarding requirements, p.14.
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© 2010 Ruth Wandhöfer
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Wandhöfer, R. (2010). PSD — A Parallel Universe to SEPA: The Odyssey from the First Ideas to the Final Text. In: EU Payments Integration. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230313996_4
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DOI: https://doi.org/10.1057/9780230313996_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-31839-1
Online ISBN: 978-0-230-31399-6
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