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Europe Daily Bulletin No. 9026

14 September 2005
Contents Publication in full By article 14 / 33
GENERAL NEWS / (eu) eu/financial services
Charlie McCreevy denounces high cross-border clearing and settlement costs

Brussels, 13/09/2005 (Agence Europe) - During a speech at the 14th transatlantic forum on investment funds on 13 September in Luxembourg, Charlie McCreevy denounced the high - if not prohibitive - costs of cross-border clearing and settlement, costs which are “up to six times higher” than those for domestic financial operations. The time has come for all actors to assume their responsibilities, the European Internal Market Commissioner said, adding “the next six months are crucial”....

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