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Europe Daily Bulletin No. 9199

25 May 2006
Contents Publication in full By article 21 / 49
GENERAL NEWS / (eu) eu/financial services
Commission document recommends action to remove barriers to integration of backroom operations

Brussels, 24/05/2006 (Agence Europe) - The European Commission's Internal Market Directorate General published a technical document on clearing and settlement on its website on 23 May. The document explains that cutting backroom costs (clearing and settlement) would have a considerable impact on liquidity and therefore on gross domestic product (GDP). The document adds that the more competitive the market, the greater the impact cutting costs will have on cash flow and GDP. Given the...

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