European savings banks' commitment to society and the youth

Chris De Noose
Managing Director

European Savings and Retail Banking Group

The European Savings and Retail Banking Group (ESBG) is once again proud to co-organise European Stock Market Learning (ESML) across Europe. ESBG celebrates every year the return of this initiative, as one of its brand actions to put forward its responsibility towards youth and society.

At the time that these lines are being written, we are going through revolutionary and disruptive times, where holding solid values gains special relevance. The European Banking Authority recently referred to the need for digital financial education, new cryptocurrencies are born, and consumer protection concerns flourish. At the same time, the labour market is rapidly changing and the future of work reveals substantial changes in respect of how current and past generations have entered and succeeded in the labour market.

Having said this, the European Savings and Retail Banking group acknowledges how important it is for the youth to be as prepared as possible for future endeavours. In this respect, ESBG supports European Stock Market Learning, as an excellent initiative that can contribute to empower the youth in respect of their financial future and participation in economic life.

The ESML is not only a fun game, but also an excellent way of gaining insight into today’s relevant matters, such as: the fundamentals of the economy, the stock market, the return and the risk. It is also a means of acquiring and practising transversal skills, digital skills, teamwork and languages. The ESML also encompasses respect for basic values and the environment, which are part of savings and retail banks’ DNA just as their continuous contribution to building a more sustainable economy.

The ESML can help improve the level of financial literacy or economic education of the youth, which is essential for our future economic lives, hence the economy in a broad sense. This matter continues to attract attention from regulators and different stakeholders, as it is evident in the continuously growing financial education national strategies and initiatives worldwide in this respect.

We are honoured that the Patron for this year’s edition will be Mr. Burkhard Balz, responsible for economic education as Member of the Executive Board of the Deutsche Bundesbank.

My last words, as I traditionally always do, are for the teachers. We should continue to provide support to the teachers in this experience, an exciting venture. Their contribution is more than relevant, and their sense of responsibility must be praised. They will, without a doubt, make the best out of this competition.

The work starts now. I wish you all the best of luck and look forward to meeting the winning European teams next March, 2020!

Chris De Noose
ESBG Managing Director