jump to navigation

eu financial education December 18, 2007

Posted by Bradley in : Uncategorized , trackback

From the EU Commission’s Communication on Financial Education, published today:

The current difficulties in the US sub-prime mortgage market, where many consumers have taken on mortgages beyond their means owing, in part, to a lack of understanding of product features, serve as a reminder of the magnitude of the problem. Member States should play a central role but the EU can assist them.

Education can solve some, but not all, problems of this sort. Borrowers who are determined to lie about their assets and income to obtain mortgage loans won’t necessarily be deterred from such behaviour by more financial education.

Comments

Sorry comments are closed for this entry