Photo: European Union
On 27 June 2018, EU ambassadors agreed the Council's negotiating stance on the Commission's proposal to make cross-border payments in euros cheaper across the EU. They asked the presidency to start negotiations with the European Parliament as soon as the Parliament is ready to negotiate.
"For a well-functioning single market, all consumers and businesses should have access to the same benefits when it comes to payments in euros. Today we agreed that a euro transfer should never be subject to a disproportionately high fee, whether or not the consumer is based in the euro area."
Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council presidency
Since 2009, cross-border and national transactions in euros cost the same price in the euro-area. However, cross-border payments in euros from non-euro countries are subject to high fees.
Read the full press release on the website of the Council of the European Union.