The Sound of Economics Understanding money in the EU
Nov 12, 2025
Alexandra Jour-Schroeder, Deputy Director General at the European Commission's DG FISMA, and Silvia Merler, a Bruegel fellow specializing in sustainable finance, dive into essential themes around financial literacy and investment in the EU. They address the importance of trust in banks and the need for a holistic approach to financial education. The duo discusses innovative proposals like an easy-to-open EU savings account and plans for national ambassadors to champion financial literacy, tackling market fragmentation along the way.
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Financial Literacy Is A Lifelong Necessity
- Financial literacy is a crucial life skill that must be taught early and reinforced across the lifespan.
- Alexandra Jour-Schroeder warns many EU citizens lack sufficient financial knowledge and confidence to make informed choices.
Distrust Amplifies Literacy Gaps
- Low trust in financial advisors coexists with weak individual financial skills across Europe.
- Silvia Merler links distrust and low knowledge to past crises and to the need for stronger individual literacy.
Design Simple Accounts With Built-In Incentives
- Create simple, accessible saving products like a European Saving and Investment Account (ESIA) to nudge savers toward investing.
- Use incentives such as clearer tax treatment and automatic tax withholding to encourage uptake.