- is extremely concerned about the problem of over-indebtedness and reiterates the need for measures to be adopted at European level;
- calls for a common definition of the concept of over-indebtedness to be adopted;
- stresses that education, prevention and appropriate procedures for reintegrating over-indebted people into normal economic life are needed to properly address over-indebtedness;
- advocates information campaigns involving all stakeholders in order to ensure pooling of complementary expertise;
- emphasizes the essential role played by consumer and family associations in disseminating information and providing assistance to people who would like it;
- believes that an appropriate, uniform procedure for preventing and dealing with situations of over-indebtedness must be put in place in all the Member States;
- stresses also the importance it attaches to banking inclusion, which must be safeguarded for people in a situation of over-indebtedness in order to avoid any social exclusion;
- reminds that combating over-indebtedness requires a European framework for usury;
- reiterates its support for the concept of "responsible credit", which requires distributors and underwriters to use fair, ethical practices.
Other relevant EESC opinions:
- Household over-indebtedness (CESE 511/2002 - INT/083)
- Credit agreements – residential property (CESE 1165/2011 - INT/577)
- Insolvency proceedings (CESE 472/2013 - INT/673)
- Financial education and responsible consumption of financial products (CESE 1170/2011 - ECO/297)
- Credit and social exclusion in an affluent society (CESE 1459/2007- SOC/265)
For more information please contact the INT Section Secretariat.