EBF wins PA award for European Money Week

Published on 17-11-2016 by admin
Award-winning initiative
EBF wins award for European Money Week
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BRUSSELS, 17 November – The European Banking Federation on Wednesday won the 2016 European Public Affairs Award for European Money Week.

The jury called it “an extremely well thought out and executed campaign that achieved success amongst a variety of stakeholders with associated goals”.

“This achievement is a very positive example of close cooperation with all our members, national banking associations across Europe, and it had a clear impact here in Brussels,” said Wim Mijs, Chief Executive Officer of the EBF.

“Europe faces a brutal need to improve financial education. Two out of three adult Europeans do not know how to properly calculate interest on a loan. More than four out of five Europeans buy financial products without shopping around and without asking for advice. And among 15-year olds in most European countries, financial literacy scores are significantly below those of youngsters in China and Australia.

“Looking ahead, the challenge becomes even more daunting. Digital trends make the concept of money increasingly virtual, much less tangible, especially for young people. It is the same as with sex education. If you do not do it properly then accidents will happen.”

EBF took the initiative for European Money Week in 2015 in order to encourage broader awareness and understanding on the need for better financial education and improving financial literacy. Some 25 national banking associations across Europe now are active with financial education projects and actions during, before and after European Money Week.

The next European Money Week is scheduled for 27 March to 2 April 2017.