Speech by Commissioner Albuquerque (by video message) for the Malta's Financial Wellbeing Conference 2026: From Access to Trust

Good morning to everyone gathered in Malta today. Although other commitments mean that I am joining you from Brussels, I was determined to contribute to this important discussion.

Let me begin by thanking the organisers for the invitation, and, more importantly, for placing financial wellbeing firmly on the agenda in Malta for the third year running.

At the outset, I think it is important to be clear about what we mean by financial wellbeing, and what we do not.

When we talk about financial wellbeing, it can be tempting to think first about how much money someone has.

But I believe financial wellbeing is about something much more fundamental: freedom.

It is about having enough control over your finances to make meaningful choices about your life. To deal with an unexpected expense without fear. To plan for retirement with confidence. To support your family. And, when possible, to put some money aside and make it work for your future. Income is, of course, fundamental. Financial knowledge cannot compensate for inadequate pay, precarious working conditions, or unaffordable living costs.

But financial wellbeing also depends on the design of the financial system with which we interact every single day. It means having access to appropriate financial products, trustworthy information and advice, and the knowledge and confidence to make informed decisions.

So today I would like to focus my remarks on the work we are doing, at the Commission, to create more opportunities for Europeans to manage their money better.

From my perspective, better money management requires three things: the knowledge to make informed decisions, access to suitable financial opportunities, and trust in the system. I'd like to take each of these in turn.