Saver's defense is something everyone wants, at least in words. Should these solemn statements be trusted, or perhaps it is better to start thinking about some kind of self-defense? Any effective self-defense begins with knowledge of the problem.
But what can be the most effective method to encourage citizens to become more aware of how banks and finance work?
This important campaign is carried out by the legislator, by consumer associations, by national and European institutions, by the media, by the banks themselves and by all those who propose to promote financial education.
The certain thing is that we cannot limit ourselves to overly general explanations of what a mortgage or a current account is. We need to tell stories, make connections, concretely showing the repercussions of European financial regulation on everyday choices.
The book To be safe in the bank. Financial education told by two insiders, written by Gerardo Coppola and Daniele Corsini, and published by goWare, deals with situations seen closely, focusing on the need to renew payment instruments, an activity in which we struggle to keep pace with our competitor countries.
Developing knowledge of the two European infrastructures of SEPA and the Banking Union will help savers make ever more prudent financial choices, avoiding in the future suffering the devastating consequences of the many bank failures that have occurred recently in Italy. As Bacon, philosopher and politician wrote, knowledge is power.
Gerardo Coppola has been in management roles at the Bank of Italy since 1979 and has been involved in economic research, banking supervision and oversight of the payment system. He has held international positions at the ECB, the BR, the cem la of Mexico City and the Banque Nationale de Belgique. He is the author of numerous books and essays on banking matters published by the main sector magazines. With goWare he published Anti-Money Laundering. The need for legality in the financial system.
Daniele Corsini is Maremma by birth and Florentine by adoption. He worked for 33 years in the Bank of Italy dealing with credit supervision and internal audit, to then devote himself to outsourcing, i.e. the production and sale of IT and payment services to banks and companies. He has published many articles on the banking system and has been involved in financial education for some time. With goWare he has published Spades and Banks and Banks and Spades, two volumes on the role of banks in the local area.
