Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-195"
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"en.20081118.26.2-195"2
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"Like many texts by this House, Mrs Iotova’s report is an example of a seemingly good idea with a deceptive title. A cursory reading could lead one to believe that it is about protecting consumers by informing them of their rights and educating them about financial services; in short, about enabling them to have a responsible and informed relationship with their bank.
In reality, it is about turning people, from childhood (from primary school, so it seems), into perfect little customers of a financial system that is hungry for their savings but mean when it comes to lending, about foisting upon them all kinds of financial products which pseudo-initiates call complex and which, for the most part, are simply absurd, and about getting them sensibly to do their accounts and to prepare for retirement – with the banks, no less – even though they are also paying into compulsory public schemes.
At a time when the world’s financial system has just shown how perverse it is, when the banks are grudgingly granting credit to enterprises and to individuals despite the hundreds of billions of public aid released, when workers and small and medium-sized enterprises are paying the price for ongoing financial folly and when the world’s ‘big players’ pretend to be implementing reforms to prolong the life of this system, that this report is unconvincing is the least that can be said."@en1
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