ECRC DECLARATION ON THE SUBPRIME CRISIS - Partners of the coalition have made their view public today! They have issued a press release to their respective media agencies and outlined in their own language what the ECRC views are on the "subprime" crisis. Following two month of intensive world wide discussions and collaboration, the European Coalition for Responsible Credit (ECRC) as well as organisations from all over Europe, North- and South America make the annexed declaration on the subprime crisis public today. In this declaration the initiators point out that it is not enough to deal with the rescue of banks, dubious investments and flawed ratings but address the reasons for this crisis directly, the chief cause being a dramatic increase in problematic credit commitments coming from irresponsible lending which threatens families and households worldwide. The initiators want to voice the concerns of those who have been hit most by this crisis. Once again, attention needs to be brought to the seven principles of responsible credit which ECRC and NCRC have developed together and which serve as a yardstick for credit extension as well as credit legislation worldwide. The present Supporters of the Declaration to date are: - National Coalition for Community Reinvestment/ USA - verbraucherzentrale bundesverband e.V./ Germany - Debt on our Doorstep/ United Kingdom - Brasilcon, Prof. Claudia Lima-Marques, Brazil - Bundesarbeitsgemeinschaft Schuldnerberatung e.V. / Germany - Free Legal Advice Centres Ltd. (FLAC) / Ireland - Observatoire de la Finance / Switzerland - Maryellen Lewis, MSU Community & Economic Development Program / USA - Rosemary Conaty-Fogitt, eurotranslations - online / Great Britain - Ass. Prof. Dan Immergluck, Georgia Institute of Technology / USA - National Consumer Research Center / Finnland - Dr. Rodica Diana Apan, North University of Baia Mare / Rumania - Prof. Florin Ciutacu, University Dimitrie Cantemir Editura / Rumania - Dr. Aurelia Ciacchi, ZERP Zentrum für Europäische Rechtspolitik Bremen / Germany - Arbeiterwohlfahrt e.V. Potsdam / Germany - Neue Richtervereinigung (NRV) / Germany - Verbraucherzentrale Hamburg / Germany - Katholischer Verband für soziale Dienste in Deutschland e.V. / Germany - NVVK (Nederlandse Vereniging voor Volkskrediet) / Netherlands - Benoit Granger, MicFin / France - institute for financial services e.V. / Germany NB: The declaration can be supported by visiting our Websites at www.responsible-credit.net, www.globalfairfinance.net, or ECRC sites in the other languages (click on relevant link below). ID: 41438 Author(s): iff Publication date: 30/06/08     ECRC Declaración del Subprime (es) (81632 Bytes) ECRC_NCRC Declaration on the Credit Crisis 2008 (gr) (114028 Bytes) ECRC Declaração sobre a Crise do Crédito (pt) (85300 Bytes) ECRC Proiectul Declaratiei Referitoare la Crizia Creditelor (ro) (110061 Bytes) URL(s): ECRC Subprime Deklaration (de) ECRC Subprime Declaration (en) ECRC Déclaration Subprime (fr) ECRC Dichiarazione Subprime (it) ECRC Subprime Verklaring (nl) Seven Principles for Responsible Credit

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Created: 30/06/08. Last changed: 07/07/08.
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