Neelie Kroes said at the ECB-DNB Retail Payments Conference in Frankfurt that European regulation has not achieved the desired degree of harmonisation. She also said that national administrators have been, at times, "bullied" into not imposing regulation because of alleged competitive disadvantages such regulation might create for certain banks. She added, that while self-regulation, for example SEPA, has a role to play in creating an integrated market, it requires robust monitoring and evaluation. Without this it will not reach its competitive potential.