On Tuesday 4 March, the European Commissioner for Financial Services and the Savings and Investment Union, Maria Albuquerque, discussed a number of key issues facing the financial sector with some 15 highly qualified young Europeans.
Discussions focused on the importance of financial education for European citizens, the complexity of the EU legislative process, the failure of the pan-European Personal Pension Product (PEPP), and the general investment deficit.
Students, young entrepreneurs and financial consultancy professionals from all over Europe took part in this exchange to share their perspectives and concerns on these strategic issues.
“We are told that saving is important, that investing builds wealth, but no one actually teach us how to do so. Schools don’t cover it. And when we try to figure it out ourselves we are met with confusing financial terms, high risks that make investment feel out of reach”, said Spanish activist Marcia Bikié.
“And then, there’s the reality we face: inflation, housing crisis. As young people, we struggle to set money aside to do all of this. Where do we even start?, she asked, calling for the fundamentals of finance to be integrated into school curricula.
On this point, Mrs Albuquerque defended the idea of an ambitious teacher training programme, believing that teachers themselves are not sufficiently prepared to pass on this essential knowledge. “These are life skills!”, the Commissioner stressed. (Original version in French by Bernard Denuit)