Banks play monopoly

WHY should banks still be able to charge up to euro43 ($42) to transfer euro100 from one account to another across national boundaries within the euro area? Even after the introduction of euro notes and coins in January, banks have resisted attempts to outlaw such blatant gouging of their customers. That is despite threats from the European Parliament, and a European Union directive that has required banks, since July 1st, to charge no more for cross-border transfers within the euro area than they do for transfers within their own country. So far the rule applies only to card payments and cash-machine withdrawals, but from next July it is meant to apply to all transfers.