To mark the EU elections in June we asked Klarna customers in six European countries what they want for a thriving Europe. Let’s see what ideas they want to put on the agenda in the next 5 years.
More choice in banking
Europeans are politically engaged. When asked about more choice in banking services, most respondents said a strong "yes." They want flexibility and innovation in financial services. One Swedish respondent said, “Europe should create more user-friendly solutions and possibilities for banking services”
More innovation means more choice for consumers. This sparks competition, lowers prices, and leads to better outcomes for everyone.“Stop companies to become to big, control the “Gatekeepers” on the internet and elsewhere”, said a German respondent added.
Address concerns of AI
Artificial Intelligence remains a hot topic. Key concerns include privacy, data protection, fraud, misuse of AI, transparency, and the impact of AI on jobs. While AI offers great promise, it also poses societal challenges that need attention today. One customer asked for “Promoting more financial and AI education so citizens can make informed choices.”
What else the EU should focus on
- Climate Change and Environment: Many called for urgent action to reduce CO2 emissions and promote sustainability as a top priority.
- Economic Stability and Growth: Calls for promoting economic growth, reducing taxes, and creating jobs were common. A German respondent said, “The EU should support small and medium-sized enterprises (SMEs), foster innovation, and ensure sustainable economic development.”
- Social Welfare and Equality: Many advocated for basic income and efforts to tackle inequality. Another Swedish respondent commented: “The EU should focus on making sure the wealth generated with new technologies is shared with those replaced by them.”
Doing more for Education and Youth Employment, ensuring further Transparent Governance by upholding human rights, and concerns around Geopolitics and Immigration were high on the consumer agenda.
What’s next?
Let’s see how these insights shape the policies and actions of the EU in the coming years. The European Union has a clear mandate to boost the European economy.
Over the next months the European Parliament is deciding committee roles and electing leaders, and will appoint the next European Commissioners that sets out the new political mandate.
At Klarna, we will continue to make sure our customers' voices are heard. With big regulatory challenges ahead for Europe in financial services, AI and competition, we urge European and local politicians to seize the opportunity to enhance competitiveness and promote further innovation.
Read more about our thoughts for Europe in the EU Pink Deal.