Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-200"
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"en.20081118.26.2-200"2
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".
One of the most significant factors in the financial crisis has been the extreme ease of supply, or the excessive tolerance of debt. The conclusions that must be drawn from this are, firstly, that it would seem beneficial to impose an obligation on banks to ensure that those to whom they lend have the ability and are likely to repay the debt, given the facts of the crisis and its causes. At the same time, the lack of awareness among consumers as to the risks associated with credit – starting with the issue of changes in reference rates – suggests that any action aimed at consumers can and must be taken. Clearly, the pressure from an economic model based on maximum consumption will be difficult to counteract with campaigns of this type, but the effort to raise awareness is necessary and, in our opinion, useful.
In any event, this report should encourage greater transparency and the establishment of clearer rules in the conditions for services to be supplied by lenders. As for education on credit or any other type of consumption, the most important element is education in general which equips people with the tools to make daily decisions."@en1
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