Press Release
Consumer organizations and the Ljubljana Declaration in favour of financial services best suited for consumers
Ljubljana, 20 May 2010 – At the Financial Forum, which has been organized by the Slovene Consumers' Association (ZPS) to mark its 20th anniversary, the Ljubljana Declaration on consumers and financial services will be presented to the public and the regulators by consumer organizations from the EU and the USA. The necessary reforms of the financial services markets were discussed by representatives of consumer organizations, representatives of governments, market supervisors and providers of financial services. In addition to other prominent guests and experts, the Financial Forum was also attended by the Minister of the Economy Dr. Matej Lahovnik and the President of the National Assembly of the Republic of Slovenia Dr. Pavel Gantar.
The 20th anniversary of the Slovene Consumers' Association (ZPS) will today be honoured by the visit of John Dalli, the European Commissioner for Health and Consumer Policy, who will also attend the tomorrow's general assembly of the European Consumers' Organisation BEUC, hosted by ZPS.
On its important anniversary, ZPS organized an all-day Financial Forum in cooperation with the European Consumers' Organisation BEUC and the Transatlantic Consumer Dialogue TACD. Its aim was to connect the key stakeholders in the field of financial services from both sides of the Atlantic Ocean. Consumer organizations are genuinely worried about the economic crisis and the consequences it has brought about for consumers. They are also concerned about the fact that measures for prevention of similar future crises are being adopted unhurriedly. They are therefore calling for urgent measures which will improve the stability of financial markets and make it possible for the markets to act for the benefit of all involved stakeholders, including consumers.
On this occasion the President of ZPS Breda Kutin said: »Organizing an event as significant as the today's Forum is of utmost importance for consumers. The financial crisis can be observed in ever increasing debts, unpleasant surprises in the property markets, a decrease in the profitability of long-term investments and growing uncertainty of consumers. When means to overcome the crisis are adopted, consumer interests are not taken into consideration to a large enough extent. With the Declaration consumer organizations are therefore proposing measures for asserting consumer rights and interests in the field of financial services.« Basic requirements of the Ljubljana Declaration are efficient control over the functioning of financial markets, responsible business practice of providers, financial products more suitable and safer for the needs of consumers, provision of professional and impartial financial advice and fight against financial exclusion.
With the Ljubljana Declaration consumer organizations call for setting up independent and more effective supervision of financial services and of the way financial markets operate. Consumer organizations strive for clear rules and more responsible behaviour of providers of financial products and services, which will enable consumers a more transparent and safer finance management. Individuals do not have access to all key information which would enable them to make good finance-related decisions, as a result of which consumer organizations have assessed that it is necessary to set up provision of professional and impartial advice tailored to the needs of individual consumers. Likewise it is essential to combat financial exclusion of individuals and to ensure each consumer has access to basic financial services, such as a basic bank account.
Consumer organizations and the Ljubljana Declaration in favour of financial services best suited for consumers
Ljubljana, 20 May 2010 – At the Financial Forum, which has been organized by the Slovene Consumers' Association (ZPS) to mark its 20th anniversary, the Ljubljana Declaration on consumers and financial services will be presented to the public and the regulators by consumer organizations from the EU and the USA. The necessary reforms of the financial services markets were discussed by representatives of consumer organizations, representatives of governments, market supervisors and providers of financial services. In addition to other prominent guests and experts, the Financial Forum was also attended by the Minister of the Economy Dr. Matej Lahovnik and the President of the National Assembly of the Republic of Slovenia Dr. Pavel Gantar.
The 20th anniversary of the Slovene Consumers' Association (ZPS) will today be honoured by the visit of John Dalli, the European Commissioner for Health and Consumer Policy, who will also attend the tomorrow's general assembly of the European Consumers' Organisation BEUC, hosted by ZPS.
On its important anniversary, ZPS organized an all-day Financial Forum in cooperation with the European Consumers' Organisation BEUC and the Transatlantic Consumer Dialogue TACD. Its aim was to connect the key stakeholders in the field of financial services from both sides of the Atlantic Ocean. Consumer organizations are genuinely worried about the economic crisis and the consequences it has brought about for consumers. They are also concerned about the fact that measures for prevention of similar future crises are being adopted unhurriedly. They are therefore calling for urgent measures which will improve the stability of financial markets and make it possible for the markets to act for the benefit of all involved stakeholders, including consumers.
On this occasion the President of ZPS Breda Kutin said: »Organizing an event as significant as the today's Forum is of utmost importance for consumers. The financial crisis can be observed in ever increasing debts, unpleasant surprises in the property markets, a decrease in the profitability of long-term investments and growing uncertainty of consumers. When means to overcome the crisis are adopted, consumer interests are not taken into consideration to a large enough extent. With the Declaration consumer organizations are therefore proposing measures for asserting consumer rights and interests in the field of financial services.« Basic requirements of the Ljubljana Declaration are efficient control over the functioning of financial markets, responsible business practice of providers, financial products more suitable and safer for the needs of consumers, provision of professional and impartial financial advice and fight against financial exclusion.
With the Ljubljana Declaration consumer organizations call for setting up independent and more effective supervision of financial services and of the way financial markets operate. Consumer organizations strive for clear rules and more responsible behaviour of providers of financial products and services, which will enable consumers a more transparent and safer finance management. Individuals do not have access to all key information which would enable them to make good finance-related decisions, as a result of which consumer organizations have assessed that it is necessary to set up provision of professional and impartial advice tailored to the needs of individual consumers. Likewise it is essential to combat financial exclusion of individuals and to ensure each consumer has access to basic financial services, such as a basic bank account.
