Synergies

National strategy for financial literacy in Greece

The Bank of Greece actively supports initiatives for the development of a national strategy for financial literacy. In this context, Bank of Greece staff participate actively in consultations on the development of a national strategy, under the coordination of the Special Secretariat for Private Debt Management (SSPDM), which has received technical assistance from the European Commission and expertise from the OECD for this project. 

2nd thematic workshop of the project “A National Strategy for Financial Literacy” - Press release (available only in Greek)

The Bank of Greece, national coordinator of Global Money Week

 Since November 2022, the Bank of Greece has taken up the role of national coordinator of OECD’s initiative “Global Money Week”. It is an annual global awareness-raising campaign on the importance of ensuring that young people, from an early age, are financially aware, and are gradually acquiring the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve financial well-being and financial resilience.

Global Money Week 2024

Global Money Week (GMW) 2024 will take place on 18-24 March 2024 and will focus on the theme “Protect your money, secure your future”. Alongside its own GMW activities, the Bank of Greece, as the national GMW coordinator, will once again engage with other stakeholders to encourage their active participation in the upcoming GMW, an annual global awareness-raising campaign organised by the OECD.

Global Money Week 2023

The Bank of Greece participated in Global Money Week 2023 by organising actions in its Museum; moreover, as national coordinator, it contacted other agencies with a view to informing and mobilising them to participate in this year’s financial education campaign of the OECD.

The Museum of the Bank of Greece designed and implemented an interactive programme targeting secondary education students. Students participated in a specially designed programme on this year’s campaign theme “Plan your Money, plant your future”, which focuses on the interaction of climate change with the economy, sustainability and raising awareness on the implications of individual financial behaviour not only on one’s financial future, but also on the environment and the society.

The programme was organised around three strands:

-CLIMATE CHANGE: information and awareness-raising through the exhibits of the Museum’s temporary exhibition (GMW slogan: Learn!)

-SAVE YOUR MONEY, saving earth: green saving (GMW slogan: Save!)

-EARN YOUR MONEY, saving earth: green employment and professions of the future (GMW slogan: Earn!).

The programme, which targeted students, had a duration of one (1) hour and was so designed as to be implemented either through on-site visit of the temporary exhibition, or outside of the Museum, on the basis of a detailed narrative with a complete set of instructions that was delivered to teachers, who would in turn explain the programme to students (e.g. inside the school).

For more information on this narrative, click here. 

The programme was attended by more than 300 students from six schools and one vocational training institute.

Coaching of secondary education teachers

As part of the aforementioned action, the Museum of the Bank of Greece received on Thursday, 2 March 2023, a group of secondary education teachers, who were coached to present the action at their schools.

Communication with agencies

In order to maximise the effectiveness of the actions under the Global Money Week umbrella, the Bank of Greece, as national coordinator, contacted other agencies that are active in financial education, with a view to informing them on the Global Money Week initiative and the Bank’s role as national coordinator, as well as encouraging them to become part of a larger effort to promote financial literacy.

In greater detail, the Bank of Greece contacted with the following entities, who participated in the Global Money Week initiative:

• Hellenic Bank Association
• Hellenic Financial Literacy Institute
• Ergo Academy
• Alpha Bank

On 25 October 2023, as part of the webinar “Launch of the GMW Annual Report 2023”, the Bank of Greece, was one of five GMW participating institutions that shared insights and experience with GMW.

On behalf of the Bank, Ms Maria Karvounopoulou, Head of the Museum Service, presented an interactive programme, designed and developed by our Museum, and its enthusiastic reception by the target audience, secondary education students.

To watch the webinar “Launch Event: Global Money Week Annual Report 2023”, click here.

Global Money Week 2022
In the context of Global Money Week 2022, the Bank of Greece and the Central Bank of Cyprus co-hosted on 17 March a webinar on “Financial Literacy: Challenge for the Future”. Governors Yannis Stournaras and Constantinos Herodotou were the keynote speakers. 

Speech by Governor Yannis Stournaras entitled “The need to promote financial education” (available only in Greek)

In this context, the Museum has organised the following special events:
• Museum visits
• Guided tours to the current temporary exhibition of the Museum
• Digital activities
• Online access to a 3D green investment game
• Museum outreach programme
• Launching of the museum-educational programme “Without cash, how?”

Global Money Week: Build your future, be smart about money – Events at the Museum of the BoG 

Please find here all relevant reports on the participation of Greece in the Global Money Week.

Hellenic Financial Literacy Institute

The Hellenic Financial Literacy Institute is a non-profit organisation whose object is to disseminate financial knowledge and the fight against financial illiteracy. It was founded in February 2016 by Mr Nikolaos Philippas, Professor at the Department of Business Administration of the University of Piraeus.
The actions of the Institute include speeches, events, conferences, scientific studies, learning programmes, writing and publishing books, and a National Financial Literacy Survey.
Listed below are publications on topics related to financial education in collaboration with the Hellenic Financial Literacy Institute:

• Nikolaos D. Philippas, “Money doesn’t grow on trees”
  Welcome address by Governor Yannis Stournaras at the presentation of the book (available only in Greek)

• Nikolaos D. Philippas, “The abecedary of economy for children up to 12 years old” 

Press release on the book presentation (available only in Greek)

     Click here to read the book (available only in Greek)

     You can find more information regarding the book here

Event on financial literacy organised by ActionAid Hellas

The Bank of Greece hosted on 10/12/2019 the inaugural event of the ActionAid Hellas (available only in Greek) programme for the promotion of financial literacy in Greece. The programme aimed to improve the financial literacy of primary and secondary education students and their teachers, familiarising them with basic economic concepts. It was funded by the European Investment Bank Institute and was implemented in collaboration with Aflatoun International and the NGO ERGO. 

Economics Olympiad

Since 2020, the Bank supports the competition of the Greek Economics Olympiad (available only in Greek), which is organised by the Center for Liberal Studies - Markos Dragoumis (KEFiM) in collaboration with the Institute of Economic Education (INEV) of the Czech Republic, competent body of the International Economics Olympiad. The competition is designed for high school students and its goal is to promote financial literacy. 

In Greece, the Economics Olympiad was first organised in school year 2020-2021. Governor Yannis Stournaras participated in the award ceremony by addressing the audience and presenting the winners of the competition with their prizes. The Bank of Greece supports the competition also in 2022-2023. 

E-square project

The Bank of Greece supports the E-square project (available only in Greek), a student initiative for the pilot implementation of Banking 101, a programme consisting of a series of 4-hour courses on modern banking and its applications. Its goal is to provide both theoretical and practical knowledge to school students. 

The Band of Greece explains in “ΜR”

The Bank of Greece cooperates with the economic webpage “Money Review” of Kathimerini daily by writing the column “The BoG explains in “ΜR”” (available only in Greek), which presents in simple and understandable language basic economic concepts in order to inform and educate the general public. 

Collaboration with the Get Involved initiative

Get Involved is a student initiative that was launched in 2017 with a view to ensuring financial literacy to its young participants. Its actions include an innovative, at global level, Simulation Conference of the European Central Bank addressed to students, a number of educational workshops and an academic journal. 

The Bank of Greece has been supporting the Get Involved initiative since 2019. 

13/12/2019 - 3rd ECB Conference Simulation organised by the Get Involved initiative 

11/12/2020 - 4th ECB Simulation Conference by Get Involved  

Welcome address by Bank of Greece Governor Yannis Stournaras at the 4th ECB Simulation Conference by Get Involved

ECB Listens: 4th Simulation Conference of the European Central Bank

10/12/2021 - 5th ECB Simulation Conference

Ministry of Citizen Protection, Hellenic Police & Hellenic Bank Association (HBA)

Information and awareness campaign on online fraud

The campaign, which was launched in 2021, is a collaboration among the Ministry of Citizen Protection, the Bank of Greece, the Hellenic Police and the Hellenic Bank Association (ΗΒΑ). 

Information material and campaign progress (available only in Greek)