On the 9th May 2008, the European Commission published its decision to set up a group of experts on financial education. The Commission issued a communication on Financial Education, which among other initiatives announced the setting-up of a group of experts with practical experience in financial education matters. The Commission highlighted that financial knowledge is very important within education.

The 25 members strong group will be appointed for a three-year renewable period. The group must be made up of individuals having competence and expertise in the area of financial education in order to contribute to sharing and promoting of the best practice on financial issuses. The group’s tasks shall be to:

1. Share and promote best practice on financial education.
2. Advise the Commission on how the principles for the provision of high-quality financial education schemes.
3. Assist the Commission in identifying any legal, regulatory, administrative and other obstacles to the provision of financial education.
4. Advise the Commission on how the obstacles identified should be addressed.
5. Contribute to preparation of the various initiatives presented in the communication on financial education, planned for 2010.