Article: Eu plans to open up credit market A standard consumer credit form for the whole of Europe will end confusion about interest rates and encourage borrowers to shop across borders for the best deals.

A standard consumer credit form for the whole of Europe will end confusion about interest rates and encourage borrowers to shop across borders for the best deals.

The European Commission says the new form, due to be approved by EU ministers at talks in Brussels this week, is part of plans to open up the bloc's financial services market

The cost of credit varies hugely across the 27 EU countries and, although Brussels has no powers to set interest rates, a single EU- wide credit form will ensure customers have a better idea of the deal on offer and a direct comparison with rival credit plans. EU Consumer Protection Commissioner Meglena Kuneva said: "There will be a standard form across Europe ...

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