Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-16-Speech-3-181"
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"en.20080116.9.3-181"2
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".
After five years of discussions, European consumers will soon have identical information about consumer credit, enabling them to make better comparisons with foreign offers when buying a car, a dishwasher or a sofa bed.
Although Europeans already have the ability to take out bank loans abroad to buy consumer goods, few use it: less than 1% of the total amount of this type of credit is currently borrowed abroad. However, rates currently vary by up to 100% (Portugal 12%, Finland 6%)! The major obstacles identified are the language barrier, distance and the lack of consumer confidence.
The directive, which I support, should help to increase this confidence, keep consumers better informed and facilitate their choices, while enabling them to benefit from uniform rules of protection (early repayment, right of withdrawal, etc.).
Two questions, to conclude:
Are we not in danger of encouraging people to take on too much debt if we do not further strengthen the conditions for lenders to check consumers’ creditworthiness? Do we not urgently need to open the way for cross-border competition in property loans?"@en1
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