Artificial intelligence is no substitute for financial literacy
European Money Week (EMW) bundles financial literacy with numerous pan-European and country-specific activities to raise awareness of the importance of sound financial literacy among the young and the old. This year, the Bankers Association is organising two initiatives during EMW.
As part of the EMW, the European Money Quiz (EMQ) final for Liechtenstein, organised by the Liechtenstein Bankers Association, will take place on 21 March with twelve classes taking part so far. The pupils are aged between 13 and 15. The winning class will not only receive a prize of CHF 500, but also the opportunity to select two pupils for the European EMQ final, which will take place in Brussels on 18 and 19 April 2024. The best teams from over 30 European countries will compete against each other there. The day before, on Wednesday 20 March, a children's book storytelling event focusing on financial literacy will take place in Balzers under the patronage of VP Bank and the Liechtenstein Bankers Association. The Event is aimed at children between the ages of 5 and 8 and is designed to teach them about handling money at an early age. Both initiatives underline the strong commitment of the Bankers Association and its member banks to financial literacy, as this competence is a decisive factor in overcoming financial challenges in life. Research shows that only around 40% of young people in Europe understand basic financial concepts and are able to make simple financial decisions, with young people, older people and those on low incomes being particularly affected.
The European Banking Federation launched European Money Week over 10 years ago to promote financial education across Europe. Given the challenges and opportunities presented by technologies such as artificial intelligence (AI), it is now more important than ever to raise awareness of financial literacy as early as possible
Programm EMW 2024
19.03.2024 EBF opening event
20.03.2024 Children's book storytelling
A SMART WAY TO START:
Self-confidence for children in dealing with money
21.03.2024 Liechtenstein Finals
