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Brussels, 14 May 2008

Commission encourages applications for new Expert Group on Financial Education

The European Commission is to create an Expert Group on Financial Education (EGFE). The group will be composed of financial education practitioners and will aim to promote exchange of ideas, experiences and best practices. The group will also advise the Commission on its policy-making in the area of financial education. Interested candidates are invited to send an application to the Commission by 13 June 2008.

Internal Market and Services Commissioner Charlie McCreevy said: "Financial education has been gaining attention, especially in the context of the financial turmoil. It is an important means of enabling consumers to make informed and responsible decisions about their personal finance, which has bearing not only on their lives, but also on society and the wider economy. Education is first and foremost a national competence, but I strongly believe that there is also a role for the Commission to promote and facilitate the provision of financial literacy programmes to all consumers in the EU. Efforts at national and EU level should be complementary."

The call for applications will be open until 13 June 2008. It is addressed to experts representing both private and public stakeholders: national authorities, the financial industry, consumer associations, academia, etc., who demonstrate the relevant competences and practical experience. A maximum of 25 experts will be selected.

The creation of the EGFE is one of the four Commission initiatives announced in the Communication on Financial Education published in December 2007 (IP/07/1954). The members of the group will be appointed for a 3 year renewable mandate. The group will meet twice per year in Brussels and will be chaired by the Internal Market and Services DG of the European Commission.

More detailed information about the mandate of the group and the selection criteria for the members can be found in the documentation available at:

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