Laura Gómez Urquijo

Financial Exclusion in the European Union: Addressing Difficulties in Accessing Finance within the Current Integration Framework

This article explores the role of the European Union (EU) in addressing financial exclusion. From a multidisciplinary point of view, we focus on the EUs approach, emphasising the peculiarities derived from the European integration process. In spite of the high level of financial inclusion in the EU in comparison with other regions, there is a substantial percentage of people and small and medium enterprises (SMEs) facing difficulty in accessing financial services; the population at risk of financial exclusion is growing due to increasing unemployment and cuts in social assistance services. This article, after contextualising the problem of financial exclusion in the global context, presents a revision of European initiatives associated with this problem, notably the reform of the financial system and the increasing integration of its internal market. We discuss the extent to which this legislation and related policy recommendations are effective, particularly considering the current framework of economic governance.This article explores the role of the European Union (EU) in addressing financial exclusion. From a multidisciplinary point of view, we focus on the EUs approach, emphasising the peculiarities derived from the European integration process. In spite of the high level of financial inclusion in the EU in comparison with other regions, there is a substantial percentage of people and small and medium enterprises (SMEs) facing difficulty in accessing financial services; the population at risk of financial exclusion is growing due to increasing unemployment and cuts in social assistance services. This article, after contextualising the problem of financial exclusion in the global context, presents a revision of European initiatives associated with this problem, notably the reform of the financial system and the increasing integration of its internal market. We discuss the extent to which this legislation and related policy recommendations are effective, particularly considering the current framework of economic...

O Investimento Social na União Europeia como Resposta aos Desafios Financeiros e Sociais da Crise

This article deals with the idea of social investment given by the European Union in the peculiar current context of cuts of social expenses and reinforcement of the economic governance. With this aim, the work focuses specially in the initiatives provided by the EU, mainly by the Comission from the breakout of the crisis. Thus, this analysis takes firstly into account those European proposals aimed to achieve 2020 objectives, emphasazing the double intervention EU Member States. Considering these initiatives we deal with the contribution of the recently launched Package for the social investment on the reform of the social policies, answering to the demographic and financial challenges of the EU. Finally, we question to which extent there is an effective link between the Commissions recommendations promoting social investment and the Member States policies in the new economic governance framework.