Journal of Applied Finance & Banking

Banks and Young People in Italy: Financial Product, Credit and other Features

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• Abstract

  The financial crisis has affected all aspects of the global economy and has certainly exacerbated the social and economic conditions that young people are experiencing in many European countries. The lack of job opportunities and employment services, the temporary nature of work, the absence of sufficient social security, the high cost of education and the difficulties involved in finding a home are all barriers that mainly hit young people who do not receive financial support from their families. All this is also a result of the rationing of credit loaned to the entrepreneurial sector and particularly young people who intend to start up companies, turn self-employed, buy property etc.. Unemployed young people, with no chance of turning self-employed, starting their own business or buying a first home are, to a great extent, young people without a future and without prospects. They are a social emergency that can no longer be put off or avoided, especially in this moment of crisis. In this perspective, as regards Italy this study aims to analyse: a) the details of the range of financial products specifically designed for the youth market; b) the technical and operational characteristics of the relationship between banks and young people.