Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-04-Speech-3-997"
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"en.20080604.24.3-997"2
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"The Commission offers three strategies in the Green Paper on retail financial services to promote integration of the retail markets in financial services - lower prices and more choice, empowering consumers and enhancing consumer protection.
Firstly, I would like to focus on consumer empowerment and I would like to highlight the need to raise the level of financial literacy. At the recent consumer financial education hearing we saw a number of practical examples of consumer financial education programmes. Further efforts could be made to share best practices in this area across the Member States, bearing in mind the new Member States in particular.
Regarding consumer choice, it is clear that consumers who wish to change financial services providers must be able to do so with a minimum of costs and legal barriers.
As regards information given to the consumer, it is not enough to provide consumers with as much information as possible. Overloading the consumer with information will have the opposite effect. Nonetheless, sufficient information which helps the consumer to make informed choices has to be provided."@en1
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