Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-04-Speech-3-219"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20080604.24.3-219"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
"Mr President, I just wish to comment briefly on some of the debate.
The issue about educating the consumer is very important. We need consumers to understand financial services, and we need in particular to target young people who use credit cards like they were going out of fashion.
But let me just say that those of us who thought they were educated have been prone to the odd financial accident. I mean, hands up those of us who fell for endowment mortgages? I should put both hands up in that regard. Therefore, even with education and knowledge, mistakes are made and wrong products are sold to the consumer.
I am not sure how long the Commission is going to test out the codes of conduct before it legislates. I am not a fan of legislation where none is required, but sometimes we need better legislation that is effective from a consumer point of view. We have a credit crunch now and, where in the Irish banking system they were handing out money and 100% mortgages were the norm, we now have quite the opposite with the curtailment of finance. This is an issue that affects all of us and I hope that this debate contributes to better financial services for the European consumer."@en1
|
| lpv:spokenAs | |
| lpv:unclassifiedMetadata |
Named graphs describing this resource:
The resource appears as object in 2 triples