In Mr. Hartsink’s own words, “this piece of financial legislation now in the pipeline reflects political pretence rather than a regulatory intervention aimed at making SEPA a reality. If endorsed by EU lawmakers, the legislative act currently envisaged would effectively derail the entire SEPA project and deprive bank customers of the benefits associated with the SEPA harmonization initiative”. Do you share this view? What is your perception on this issue of “technical standards” (EPC) versus “essential requirements & functional services” (EC)?