The future of Finance in the EU | Policy Dialogue

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Introduction

If you are passionate about finance and want to discover new European policies on this topic read on!

During the celebration of the European Year of Youth 2022, Commissioner McGuinness held a dialogue with young people from throughout Europe about their vision for the future of finance.

The event was a useful discussion for participants (young people from all over Europe from 18 to 25 years) to discuss and compare their opinions.

At the end of the meeting, options were drawn up to improve future European policies and improve the living conditions of young people.

If you have not been able to attend the event but are interested to know more about this topic read on and learn how to see the video summary of the conference.

The topics of the dialogue

The policy dialogue addressed the impact of the economic factor on the lives of young Europeans.

It has been discussed how the economy is changing over time and for this reason it is necessary to resort to new decisions to regulate the new existing types.

The participants discussed in particular:

1. Sustainable finance:

  • Emphasising the importance of an equitable transition that doesn’t exclude anyone, both within Europe and on a global scale.
  • The necessity to establish consistent sustainability finance information standards, such as ESG ratings, to guarantee comparability and trustworthiness, while combatting deceptive environmental claims.

2. Digital finance:

  • Across Europe, young individuals want to adoption of contactless digital payments and express excitement about advancements in the realm of digital currencies, including the concept of a digital euro. Europe should endorse financial innovation while maintaining safeguards for overall financial stability and individual protection.

3. Financial literacy and inclusion

  • A new EU initiative or promotional campaign aimed at enhancing financial literacy should extend beyond the current efforts in this field. It should consider the following points:
    • Ensuring that young people have access to financial literacy programs, starting either in primary schools or, at the latest, in secondary schools. Alternatively, targeting parents to pass on this knowledge to their children.
    • Expanding financial education beyond the traditional educational system to reach marginalised communities and individuals who did not receive financial education during their school years.
    • While emphasising the importance of individual financial education, it should not undermine collective measures aimed at supporting social and economic well-being.

The Video Resume

To find out more about the topic watch the video summary of the event on the official website.

 

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