Financial education in practice: the European Stock Market Training
The European Stock Market Training is part of the savings banks’ collective efforts to contribute to financial education, and one of their socially responsible initiatives in favour of youngsters. It is coordinated by ESBG at European level and encompasses currently 7 European countries and their respective savings banks: Austria, France, Germany, Italy, Latvia, Luxembourg and Spain.
This unique, pan-European financial education initiative involves teams of 14-19 year olds each autumn in a 10-week internet simulation of managing a virtual securities portfolio, using indexes from the Frankfurt, Milan, Madrid, Paris, Vienna and London stock exchanges. The goal is to familiarise the students with the functioning of stock markets. It is highly valued by the participating schools as a key tool to help youngsters understand economics and financial markets, experience portfolio investment and the prudent and sustainable management of financial risk, through a “learning by doing” process. The use of the internet contributes to make financial education more appealing to young people. Besides, as part of a team, students learn to make strategic decisions as a group.
The 2006 edition animated more than 43,500 teams and 250 000 students and their teachers across Europe. It received the Patronage of Baron Lamfalussy, a prominent EU financial market figure and was selected by the European Commission as one example of financial education programmes for young people. It was presented as such during a high-level EU Conference on increasing financial capability in March 2007.
The 2007 edition again saw 46 300 students and their teachers from all over Europe participate. This edition received the patronage of Mr. Jorgen Holmquist, Director General Internal Market and Services, European Commission.
European prize giving event
After both regional and/or national ceremonies for the participating teams, a European prize giving event is traditionally organised for the national winning teams. ESBG hosted the 2006 and the 2007 ceremonies in Brussels, respectively under the patronage of Vincent Van Dessel, Executive Director at Euronext, and Baron Lamfalussy.
To see the pictures of this event click here.
The 2008 European prize giving event was hosted by DSGV, the German Savings Banks Association. It took place in Berlin, with the patronage of Mr. Jorgen Holmquist, Director General Internal Market and Serices, European Commission.
To see the pictures of the event click here.
For more information in English, French, German, Spanish and Italian please view www.stockmarket-training.com or contact: info@savings-banks.com.
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