19 Amendments of Olle SCHMIDT related to 2007/2288(INI)
Amendment 1 #
Motion for a resolution
Recital B
Recital B
B. whereas raising the level of financial literacy of consumers should be a priority for policy-makers both at Member State and at European level, not only because of the benefits for individuals but also because of the benefits for society and the economy, such as reducing the level of problem debt, increasing savings, increasing competition, making appropriate use of insurance products and making adequate provision for retirement,
Amendment 2 #
Motion for a resolution
Recital C
Recital C
C. whereas studies reveal that consumers tend to overestimate their knowledge of financial services and need to be persuadedinformed of the fact that they are not as financially literate as they believe, and of the consequences thereof,
Amendment 3 #
Motion for a resolution
Recital E
Recital E
E. whereas the importance of cross-border financial services is constantly increasing, and the Commission should take initiatives at EU level for the promotion of cross- border and, where necessary, comparable information on financial education,
Amendment 4 #
Draft opinion
Paragraph A
Paragraph A
A. Stresses that the objective of educationg and raising the awareness of consumers as regards finance and credit is to improve their understandingawareness of economic and financial realities with a view to avoiding risky commitmentsunderstanding economic commitments and avoiding unnecessary risk, excessive debt and financial exclusion; considers that training and the provision of information should allow them to take a critical approachn independent approach, based on their own judgement, to the financial products offered to them or which they are considering using;
Amendment 4 #
Motion for a resolution
Recital F
Recital F
F. whereas particular attention should be paid to the educational needs of vulnerable consumers (persons with a low income, the unemployed, ethnic minorities, etc) and of disabled persons, pensioners and workers close to retirement, and also to those of young consumers, who face decisions affecting their whole lifetime economic outlook,
Amendment 6 #
Draft opinion
Paragraph B
Paragraph B
B. NotRecognises that the ‘US 'sub-prime’' crisis was primarily created by the irresponsible actions on the part of agents, such as mortgage brokers, but notes that, to a certain extent, it illustrates the dangers not only of inadequate information for borrowers but also of the lack of understanding and knowledge of such information leading to consumers not being insufficiently concerned about the risks of insolvency and excessive debt;
Amendment 8 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission initiatives in the field of the financial education of consumers, in particular the recent setting- up of the Expert Group on Financial Education, and its intention to publish an online database of financial education schemes and research in the EU; is of the opinion that this Expert Group on Financial education should have clear responsibilities and powers; suggests that this group be asked to draw up basic financial education programmes at EU levelin particular to look into the added value of, and best practices in, EU financial education and pcropose the budget line for these programmss-border financial services;
Amendment 10 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses the importance of establishing, by means of thorough studies at national and EU level, an understanding of the level of financial literacy of anyin the Member State,s and the added value the EU can provide, as well as of defining educational needs for specific target groups in society, according to a mix of criteria such as age, income and level of education;
Amendment 13 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses the role of private initiatives, the financial services industry and consumer organisations in defining the specific needs of target groups for financial education, in notifying weaknesses and shortcomings in existing education schemes, and in providing financial information to consumers, such as through internet-based tools for financial planning;
Amendment 14 #
Draft opinion
Paragraph D
Paragraph D
D. SIs concerned about the increase in indebtedness among young people; suggests that an introduction to economics and finances should be introducprovided into teaching and adapted to the different levels of education, and that it should stress sound management of the family budget in particular; takes the view that the training and qualifications of teachers need to keep pace with the growing demand for qualified economics and finance teachers and should be organised by Member States accordingly;
Amendment 17 #
Draft opinion
Paragraph D a (new)
Paragraph D a (new)
Da. Encourages the Commission further to promote the financial education of consumers (including of teachers, students and adults) at EU level; invites the Commission to use accessible and user-friendly interactive tools in raising awareness of financial services among consumers;
Amendment 18 #
Draft opinion
Paragraph E
Paragraph E
E. Believes that training in household economics and finance should be given to social workers in contact with families at risk of excessive debt or financial exclusion in order to be able to provide them with useful advice and warn them of the risksto improve their dealing with financial matters relating to the household;
Amendment 18 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Is of the opinion that financial education programmes can only bebe most effective if they are tailored to the needs of specific target groups and, ifwhere appropriate, if they are as personalised as possiblepersonalised;
Amendment 19 #
Draft opinion
Paragraph F
Paragraph F
F. Believes that governments should strengthen and encourage action by organisations, industry associations and businesses involved in educating and raising the awareness of consumers as regards finance and credit.; calls for better cooperation and coordination between the private and public sector in improving the financial education of consumers;
Amendment 19 #
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 20 #
Draft opinion
Paragraph F a (new)
Paragraph F a (new)
Fa. Recognises the important role of the financial service industry in continuing to help improve consumers' understanding of choices in relation to their financial situation during the different stages of life.
Amendment 27 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Acknowledges that a difficultelicate balance needs to be struck between providing consumers with the knowledge they need to make informed financial decisions and overloading the consumer with information; favours high-quality information which is accessible, concrete, easy to understand andover quantity, for example high-quality, accessible, concrete and easily comprehensible information aimed at enhancing the consumer’s ability to make informed and responsible choices;
Amendment 28 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recommends that financial education schemes focus on important life-planning aspects such as basic saving, debt, insurance and pensions;
Amendment 34 #
Motion for a resolution
Paragraph 11
Paragraph 11