Financial exclusion in Spain
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Financial exclusion in
SpainSara Carreño Iglesias
Andrés Fernández RodríguezAndrea Rodríguez García
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Index
1. Background of Spain2. Level of financial exclusion3. Causes and consequences 4. Government role 5. Institutions6. Alternative way to finance projects7. Caja España y Montes de Piedad8. Conclusions
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1. Background of Spain
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Madrid
Mariano Rajoy
King Juan Carlos I
Population
46,704,314 inhabitants
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GDP$1,414 trillions
2013 2012Unemployment 25,9% 26,3%
Males 25,1% 25,9%
Females 26,8% 26,8%
Under 25 years 54,6% 55,7%
España: Paro
Deficit Million € % PIB
2013 -72.577 € -7,10%
2012 -109.460 € -10,60%
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Poverty in Spain21,6% under the poverty line
Poverty lineFamilies = 14,000 € Individuals = 7,000€
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2. Level of financial exclusion
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Before 2007…
Since 2008, near 10,500 bank branches have close in Spain
The most affected provinces are: • Barcelona (16,454 inhabitants)• Tarragona (14,258 inhabitants)• Caceres (14,229 inhabitants) • Madrid (11,319 inhabitants)
Castilla and León the 75% of its municipalities
353,836 inhabitants = the 13.9% of the region’s total population
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As a solution…
Internet and telephone banking
E-commerce it is not very popular
Is essential that people have access to information and communications technology to prevent their financial exclusion
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3. Causes and consequences
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Causes…
arising from the supply side
• The exclusion via prices.
• Commercial exclusion.
• The complexity of options
• The geographical access.
started by the demand part
• The exclusion via conditions.
• The fear of losing financial
control.
• The self-exclusion.
• Cultural and religion reasons.
• The preference of alternative
suppliers
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… and consequences
Social• Depend on status and
life experience of the people
• Not well seen to paid big amounts of money in cash
Financial
• The access difficulties• Incomes through their bank
account
payment of bills gets costly
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4. Government role
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-As a facilitator:• an understanding of the problem
• providing positive incentives to encourage the changes in the banking system
• to promote financial inclusion
• a support of market initiatives
• contributing directly to the provision of financial services
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-As a legislator:
• Direct legislation every citizen should have access to specific basic transaction banking services
• Indirect regulation remove obstacles that fortify financial exclusion.
• Positives incentives innovations in the banking system to work for financial inclusion.
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Local authorities:
• How local authorities can help against financial exclusion?
• Giving economic aid to schools, retired people…
• Build their own financial inclusion strategy
• Working in partnership and support the development and growth of credit unions services
• Developing as many as possible ideas in order to contribute together with national government
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5.Institutions
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6. Alternative way to finance
projects
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is the collection of finance from backers—the "crowd"—to fund an initiative and usually occurs on
Internet platforms. The initiative could be a nonprofit campaign, a political campaign, a charitable
campaign, a commercial campaign or a financing campaign for a startup company.
Crowdfunding
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The Cosmonaut
The Cosmonaut is a Spanish science fiction film, released in May 2013. It is one of the best known cases of the use of crowdfunding in our country.
• Producer from just 2 € and receive instead a welcome pack, a producer certificate, entry into a drawing for an authentic costume cosmonaut and your name in the credits.”
• 400.000 €
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Ademar
Club Balonmano Ademar León is a Spanish handball team founded in our city, León. The team plays in Liga ASOBAL and Velux EHF Champions League.
They offered : 5 € = thanks and post tweet 20 € = video with the best moments30 € = [email protected] € = VIP tickets50 € = the name in the stadium 100 € = End of Season Dinner 150 € = the name on the shirt of a player 500 € = clinic with coaches 600 € = play a game: fans vs official team
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7. Caja España y Montes de
Piedad
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• These organizations are a “peculiarity” of the Spanish financial systems that fight against poverty and financial exclusion.
• Objective: get loans to families with emergency needs, giving the most favorable conditions possible.
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8. Conclusions