Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-304-250"
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"en.20121120.28.2-304-250"2
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".
At this time of economic crisis, the most appropriate way of boosting the economy and productivity is through consumption. Since household consumption is the basis of general consumption, it is even more important to ensure a) consumer protection and b) continuing consumption. This is possible only through the existence of measures common to the member countries. Given the cross-border nature of the take-up of credit, it is important that information on both the potential and the risks of consumption is made available. In this respect, I find the measures are wholly adequate, consisting as they do of (1) imposing on financial establishments the duty of providing consumers with personalised, complete and easily understandable explanations regarding the risks involved in foreign currency lending well before they are tied to a contract; and (2) calling for credit institutions to take special care when granting consumer credit loans with a term of longer than five years and not to provide consumer credit which is secured by the consumer’s house where the consumer does not have an adequate wage or salary."@en1
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