Millions of families across the EU are in a situation of over indebtedness, millions more don’t have access to a basic bank account, another few million don’t have access to basic loans such as mortgage credit in order to buy a home where they can thrive as a family.
COFACE-Families Europe advocates for more responsible lending via for example thorough credit worthiness checks, credit guidance to ensure that credit is allocated for productive activities (funding the real economy), and access to better information and independent quality financial guidance for families. COFACE-Families Europe also defends the right to the access of a basic bank account for all EU citizens without any form of discrimination. COFACE-Families Europe underlines the necessity for all families to have access to certain financial products such as mortgage credit, pensions and saving products to ensure that they can make long-term life investments which are essential for their family life. When families fall into over-indebtedness, it is essential that all Member States provide the right to debt settlement and a fresh start to allow for families to quickly return to the labour market and prevent a negative spiral which ends up costing society more than a full discharge.
As an extension to the financial inclusion policy measures, COFACE-Families Europe has broadened its scope of reflections to encompass a critical examination of our current economic, financial and monetary system, to ensure that they serve society and the general interest as opposed to serving the interests of a select few. Addressing questions such as understanding how money is created, what are the implications of a debt based monetary system and what policies should be put in place to foster positive sustainable growth are at the heart of our reflections.
Key documents:
Report of the seminar “Economics at the Service of Society” organized by COFACE-Families Europe (2019)
Report on social policy and mortgage lending (2018)
Compendium on financial inclusion (2016)
Financial inclusion policy brief (2012)
Credit Insurance policy brief (2012)
Videos:
Accessible and fair financial services for all (2015)
RELATED NEWS:
On the 19th of November, Finance Watch held their annual conference entitled “Ten Years after Pittsburgh: Changing Finance for Good?” in Brussels. The conference addressed three main themes, which are at the heart of Finance Watch’s mandate: Stability, Sustainability and…
Background The programme for the financial inclusion and education of families was developed in 1999 in order to fill a gap in the provision of financial education for families. It was designed to be an effective awareness-raising tool (How to…
Background It was almost at the moment of its creation (in 1945), at a time when France was fully engaged in its own reconstruction and the inflation rate was extremely high, that UNAF decided that it wished to develop a…
Background As a consumer organization, it is our mission to protect and inform families as consumers. The household account book is a way of fulfilling this mission. Belgium is facing a record number of families in over-indebtedness; approximately 100.000 families…
COFACE has always considered financial inclusion as one of its priorities, especially since access to some financial services like a basic bank account is a pre-condition for social inclusion. We encourage families to attend budgetary education classes that gives them…
On the 4th of September, Eurofound held a workshop entitled "Addressing household over-indebtedness: debt advice services and debt settlement procedures in the EU" . The event was an opportunity for a variety of speakers and stakeholders to provide feedback and…
On the 28th of June, the three European supervisory authorities (ESAs – EBA, EIOPA, ESMA) held their yearly Consumer Day in Dublin. Martin Schmalzried represented COFACE-Families Europe and the consumer perspective on the first panel dedicated to the topic of…
“Let’s look at what a child needs from the moment it wakes up until it goes to bed. Parents should not need to choose between food or heating/cooling” says MEP Theresa Griffin at the Right to Energy Forum on 20…
On the 18th of June, CEPS, ECRI and DG JUST of the European Commission held a joint seminar on the revision of the Consumer Credit Directive (CCD), discussing how the current rules work and ideas for improvement. The seminar focused…
On the 15th of May, Better Finance held a press conference presenting its 10 priorities for the next 5 years, ahead of the European elections on the 26th of May. While EU Policy makers have been focusing on financial stability…
The Annual Convention for Inclusive Growth (ACIG) is an action-oriented platform bringing together civil society organisations and policymakers to discuss how to achieve truly inclusive growth. Its fourth edition took place in Brussels on 20 May 2019, with different COFACE…
On the 8th of April, COFACE-Families Europe submitted a joint reply to the consultation on the revision of the Consumer Credit Directive (CCD). The joint reply, to which COFACE-Families Europe contributed, was coordinated by Finance Watch, of which COFACE-Families Europe…
| Contact the secretariat: Rue de Londres 17,1050 Brussels, Belgium +32 2 500 56 90 - secretariat@coface-eu.org | Review our PRIVACY POLICY |
|---|
COFACE Families Europe is supported by the EU Programme for Employment and Social Innovation (EaSI) This website is produced with the support of the European Commission but does not necessarily express its views - Copyright © 2016 COFACE Families Europe aisbl - All Rights Reserved