The young journalist Harry McCann (member of the pool of young journalists for the EYY) visited the offices of the European Commission Representation in Ireland to interview the EU Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead McGuinness.
They discussed the future of finance, and the Commissioner shared her views on cryptocurrency, financial education, and the impact of Covid-19 on
young people.
Watch the interview here: https://www.youtube.com/watch?v=ytDg_i9PgVw&t=230s
and tell us your viewpoint on the topic discussed?!
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Interesting topic, an interview makes to think. Not surprisingly, there is an interdependence between all three themes mentioned above. Truly, the financial system is getting more digitalized and it is hardly influenced by COVID-19, as it brought huge changes in millions of lives. People were forced to transfer financial services to remote mode, and many things started to change to technological solutions. The pandemic was a catalyst in those transformations. Cryptocurrency is another issue, as it is not stable, people should be taught and be aware of managing their money. Solutions should be developed by considering both things: the traditional way, the people used to it, and the future needs of the community. Thank you for an informative interview session.
This is a very complex topic and often we don’t know much about it. I definitely agree, young people should receive specific education in topics like criptocurrency, in order to be ready to face the risks from e-finance.
I completely agree with you, the subject of crypto-money is still very complex (for me at least), and there is obviously an interdependent relationship between these three themes as specified by Baianur.
Regarding finances in general, after a first global health crisis due to covid-19, we are now living a second major crisis: a war, with important repercussions: notably the rise in energy prices and some raw materials, slowing of economic growth and turbulences on the global financial markets.
Wouldn’t this risk undermining much of the progress that public policies have made in the last two years ? Facing a vulnerable financial market, can e-finance still be considered today?