EU citizens are not doing well when it comes to financial literacy. Nearly half lack an understanding of basic financial concepts, including inflation.

I can believe that.

On the other hand, I kind of suspect that one might see similar results here in the US, not to mention in other places.

Even elected officials lack the basic understanding of inflation. Many think a declining inflation rate results in prices also declining and push policy according to that.

This is the best summary I could come up with:

The best performers were the Netherlands (43%), Denmark (40%), Finland (40%) and Estonia (39%) where about four in 10 respondents display a high level of financial knowledge.

While the scores of France and Italy were slightly below the EU average, this figure was noticeably low in Spain at 19%.

Proportion answering this question correctly (“Less than you could buy today”) was below 60% in Cyprus, Portugal, Greece, Romania, and Italy whereas Finland and Estonia had the highest share at 84%.

The proportion with a high score varied between from 11% in Portugal and Latvia to 27% in Denmark, Slovenia and Sweden, and 28% in the Netherlands.

To illustrate, when participants were asked whether they keep track and monitor their expenses, only 16% in Finland replied, “completely agree”.

The EU is working to ensure that its citizens have the knowledge and skills they need to make good financial decisions.

The original article contains 872 words, the summary contains 148 words. Saved 83%. I’m a bot and I’m open source!

As a Dutch person, let me just say:

Suck it, Finland!