Abstract
After the odyssey of negotiation, amendments and re-negotiation, there were mild signs of euphoria in the industry when the final PSD text was published in the Official Journal of the EU on the 5th of December 2007. With so many years of hard work involved in getting to this point, there was a strong feeling that surely not much more could go wrong now. Even the timing of publication encouraged this feeling, given that the standard time lag with which EU Directives come into force — 20 days after their publication — meant that the PSD truly arrived on Christmas Day. What a delightful present for the banking industry in Europe!
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Notes
C. Persson and M. H. Fandel, ‘Better Regulation: a regional perspective’, European Policy Centre Issue Paper No. 53, May 2007, p.15.
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© 2010 Ruth Wandhöfer
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Wandhöfer, R. (2010). From Publication to Transposition: The Directive Dilemma. In: EU Payments Integration. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230313996_5
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DOI: https://doi.org/10.1057/9780230313996_5
Publisher Name: Palgrave Macmillan, London
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