Toma nota.../Take note...

By virtue of its role in the EU institutional set up, the European Economic and Social Committee (EESC) contributes to strenthening the democratic legitimacy of the European Union by contributing to the development of a more participatory model of society acting both as a privileged interlocutor in the dialogue between civil society organisations and the European institutions and as organised civil society's institutional forum for representation, consultation, information and expression.

Effective participatory democracy is needed to restore credibility to the European Union

Brussels, Dec. 14 (DP.net).─ The EESC called last November for full implementation of Article 11 of the Treaty of Lisbon in order to strengthen democratic legitimacy in the European Union (EU), bringing citizens closer to the EU project and prviding a platform for interaction between the continental institution and its citizens.

The EESC has been active promoting these ideas since March 2010 when the Committee asked the European Commission to publish a green paper on the implementation of the principle of participatory democracy as enshrined in Article 11 of the Lisbon Treaty. This move favored the subsequent promotion of the European citizens' initiative.

Latvia is still one of the poorest countries of Europe and one with large income inequalities. That is the legacy of the Soviet era. But even when Latvia is a land of extremes where 42% of children live at risk of poverty and social exclusion, the state is still able to afford paying 142,000 euros in paternity benefits for one child, and up to 200,000 euros in unemployment benefits. Changes to the law adopted in September will provide a 50% real estate tax discount to large families, but critics argue that Latvian benefits system overall works largely in favor of the wealthy, allowing them to receive huge benefits, while people on small incomes receive minimum benefits. Therefore, they expect their government to emulate some of President Obrama's policies of "taxing the rich"

Latvians hope to join the euro zone in 2014

Nov. 19.─ With the clock ticking until Latvia gets a green light to join the euro zone in 2014, the Baltic state's leaders are pulling out all the stops to demonstrate just how ready it is. But while officialdom is gung-ho, away from the corridors of power the mood is unenthusiastic in this nation of two million, which has emerged from the world's deepest recession and remains locked in an austerity drive.

Peoples who have enjoyed undeserved and artificial prosperity based on the irresponsible growth of public debt, now reject the austerity measures needed to balance its current accounts. There are many economists who are preaching greater budget expenditures to generate more wealth, overcome the recession and reduce unemployment, without taking into account that the rising debt sooner or later we all have to pay for it.

Monetary policy is the secret ingredient to bringing down public debt

Goals: Restore competitiveness only through domestic deflation, not devaluation, and reduce debt only through austerity

Sept. 30.─ Politicians across the rich world are quarrelling over how to deal with public debt. Yet the most important actors in the drama may be unelected central bankers, according to a study by the International Monetary Fund, published in its latest economic outlook. The IMF looked at 26 episodes since 1875 when debt topped 100% of GDP, to determine how those ratios got back down.

Growth, spending cuts and tax increases did their bit, but the make-or-break factor was monetary policy.

• Análisis comparativo de los servicios microfinancieros en el mundo
• La justicia social depende de la creación de oportunidades de iniciativa privada en igualdad de oportunidades

Credit Suisse se ha sumado a las empresas bancarias interesadas en promover el microcrédito y a estos efectos ha anunciado su respaldo financiero a las actividades caritativas de Accion International, una ONG descrita como "institución sin fines de lucro dedicada a crear oportunidades económicas conectando a las personas con las herramientas financieras que necesitan para mejorar su calidad de vida".

Accion International se ha dedicado a promover las microfinanzas desde el primer microcrédito otorgado en 1973 y ha formado durante los siguientes 40 años 62 instituciones microfinancieras en 31 países de África, Asia, América Latina y también Estados Unidos, otorgando créditos por un valor total de más de 300 millones de dólares.

Los microcréditos son cantidades pequeñas, frecuentemente de menos de US$1000, otorgadas a personas que intentan abrir o ampliar pequeños o nacientes negocios y se concenden a un interés muy bajo. Puede ser un puesto de frutas y verduras o una pequeña tienda de reparar zapatos o de costura, entre muchas otras iniciativas cuyos créditos suelen aprobarse en estos casos.

La metodología del microcrédito comprende una multitud de actividades involucradas en el crédito que incluyen las ventas, la selección y el estudio del cliente, el proceso la solicitud y aprobación, la supervisión del pago, y la administración de la mora y la cartera.

Muhammad Yunus, un bengalí de 72 años, fue el primero que se atrevió a poner en práctica el concepto del microcrédito en 1976, ideado por el pakistaní Dr. Akhter Hameed Khan, concentrando su actividad en aquellas personas humildes que no pueden solicitar un préstamo bancario tradicional y basado en la teoría conocida como "Círculo Vicioso de la pobreza" del economista sueco Ragnar Nurkse (1907-1959), explicada por primera vez en su libro "Problemas de formación de capital en los países en vías de desarrollo". Con el propósito de aplicar la idea del Dr. Khan y la teoría de Nurkse, Yunis fundó el Banco Grameen, que hoy día cuenta con más de 2,200 sucursales y más de 20,000 empleados.