OVERINDEBTEDNESS – The ILO publishes an overview on Overindebtedness in Germany Oliver Haas of the iff (Hamburg) contributes to the ILO mandate given to the Social Finance Program to establish a sound knowledge base about the links between over-indebtedness and its implications for the protection of wages. This first of a series of country case studies will help to identify areas for improvement in consumer protection and entry points for advisory and counselling services by social partner organisations. FOREWORD: There are substantial social and private benefits associated with better access to financial services, especially in countries with inefficient and uncompetitive financial markets. This view presupposes that households and enterprises are fully informed of their debt absorption capacity and that they can manage it. However, as statistics of over-indebtedness in high income countries show this is not generally the case, especially among young adults in many Western European countries there is a disturbing increase in private insolvency. ID: 38654 Author(s): iff Publication date: 28/09/06     ILO paper: Over-indebtedness in Germany (706229 Bytes)

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