THE IMPORTANCE OF THE BANKING FINANCIAL EDUCATION COMPONENT IN ECONOMIC PERSPECTIVE

Lucian-Ion Medar and Irina-Elena Chirtoc
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Lucian-Ion Medar: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA
Irina-Elena Chirtoc: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA

Annals - Economy Series, 2016, vol. 5, 106-110

Abstract: Economy and civil society has gone through an unprecedented financial crisis determined by an acute shortage of financial education among the large community of individuals and legal persons. Thus, the low level of economic and financial knowledge from society contributed to the amplification of economic crisis. In 2008, in the midst of financial crisis in the European Union was created Expert Group on Financial Education (EGFE), aimed at supporting a new financial education order. Breaking the vicious circle of banks debt and sovereign one, improvement of supervision European banking system, solving the financial problems of some banks through the mechanism of bank resolution, without recourse to public resources, strengthening the trust of potential customers in the financial market, in the first process of finalizing the Union European banking, can be achieved and by a new order of financial education.

Keywords: credit information; banking culture; financial education (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2016:v:5:p:106-110

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