FINANCIAL LITERACY AND THE TASKS AT HAND IN HUNGARY
The economic crisis of 2008 once again drew attention to the importance of financial literacy and education. One explanation for the prolongation of the economic crisis can be found precisely in the deficit of financial knowledge within society at large. From young people to the most senior decision-makers, developing financial knowledge is required in order to ensure that the regulation of credit institutions occurs within a “necessary and adequate” framework, and that the functioning of bank processes and products is understood by consumers. It was in order to promote the growth of financial literacy that the European Banking Federation created the European Money Week programme, which Hungary has also joined (under the moniker Pénz7). The Pénz7 programmes both publicize and complement the activities of the government and credit institutions carried out in the service of developing financial literacy and education.