council resolut novemb consum credit indebted council european union note proport consumpt financ credit form constantli increas note growth credit exce gdp contribut growth confirm attach implement intern financi servic market harmonis legisl field high level consum protect note harmonis legisl cross border retail financi oper introduct singl currenc develop technolog aim consequ develop cross border credit oper note credit drive forc econom growth welfar consum constitut risk credit provid threat addit cost insolv grow number consum note indebted affect signific grow number european consum member state note indebted major case due increas uncertainti occurr predict variat incom note indebted consist sole debt link credit case link exist credit consum credit note inform indebted indebted work commiss remain inadequ ow lack systemat studi indebted result incompar data data member state lack harmonis definit indebted note ten european union member state specif legisl collect settlement debt govern social legal econom treatment indebt consum ordinari debt collect procedur continu appli member state note diverg prevent social legal econom treatment indebted member state give rise consider dispar european consum credit provid note take account european commun desir develop cross border activ relat financi servic grow scale phenomenon indebted indebted consider commun level complement measur promot develop cross border credit measur prevent indebted credit cycl take note commiss intent studi hear carri propos context revis direct consum credit harmonis prevent measur rule inform debtor respons credit provid compens cost contract fulfil role credit intermediari agenc consid european cooper studi prevent indebted base regular precis inform statist econom legal sociolog natur draw statist collect context work carri regard indic poverti social exclus incom live condit invit member state commiss wai mean monitor develop consum indebted indebted intern market exchang inform european level level indebted practic invit commiss continu work object