Brussels, 7 April 2020 – The continued spread of the COVID-19 virus around the world and the emergency confinement measures have severely disrupted capital markets. EU Citizens in their capacity as investors and savers are already feeling the squeeze and will be among the first in line to suffer from the economic and financial fallout that will undoubtably ensue following the large array of different financial measures taken by governments and financial institutions.
BETTER FINANCE and its members are scrambling to put tools in place and to provide clear information and guidance for individual investors and financial services users across all EU Member States. Hereunder follows a list of some of the initiatives already up and running:
ROMANIA
THE ASSOCIATION OF ROMANIAN FINANCIAL SERVICES USERS, AURSF, launched
several initiatives, including:
- An Open Letter to the Prime Minister and Government proposing
various measures to help consumers of financial services navigate the
fallout of the Covid-19 crisis, stressing the importance of protecting
indebted consumers and those facing foreclosures or debt collectors - A Joint Open Letter to the Romanian Parliament on a legislative
proposal for consumers, supporting rebalancing credit contracts
(especially those in foreign currency) - A critical review of the Romanian Government’ legislative
proposals to help consumers in financial difficulty - A Press Release touting a great win for Romanian consumers of
financial services - An Open Letter to the Romanian Parliament regarding the
upcoming vote on two legislative proposals in favour of consumers of
banking services