Post by bisal37 on Mar 12, 2024 8:29:52 GMT
Let's put it this way: when a natural disaster occurs, such as the L'Aquila earthquake, fundraising campaigns begin for donations which normally, given the intrinsic generosity of our people, amount to several million euros! But what happens to these donations? Most Italians naively believe that that money ... the_earthquake_in_l'aquila_and_the_strange_circulation_of_the_money_of_donations ... be GIFTED to earthquake victims so they can rebuild their destroyed homes. The state of mind with which these generous donations are made is that of a free gift . But is it possible that there are people who take advantage of such a noble feeling to put that money in their pockets? Yes, it is possible as we will see shortly.
In fact, things are more complex USA Phone Number and murky than simply passing money on to those who need it , and generally those affected by the disaster do not see a single euro, except on loan . It works more or less like this: the telephone companies collect the millions of donations via SMS and pass them on to the Civil Protection. The Civil Protection puts this money into the hands of a financial company (usually Etimos ) which uses it as a Guarantee Fund for Bank Loans . At this point Etimos, or someone on its behalf, chooses some banking institutions and invites them to lend money to earthquake victims , guaranteeing these loans with the Guarantee Fund put together with the SMS donations.
For the banks these are zero risk loans, as if the earthquake victim were to be unable to pay the instalments, they could draw from the Guarantee Fund and would not lose a cent. It must be said, as the only weak defense of this system, that the loans are usually at a subsidized rate compared to normal first home mortgages. But there are always some healthy interests, don't worry! In the specific case of L'Aquila, for example, banks lent money to earthquake victims at an average rate of 2.5% . These loans could be provided to individual citizens, businesses or cooperatives .
In fact, things are more complex USA Phone Number and murky than simply passing money on to those who need it , and generally those affected by the disaster do not see a single euro, except on loan . It works more or less like this: the telephone companies collect the millions of donations via SMS and pass them on to the Civil Protection. The Civil Protection puts this money into the hands of a financial company (usually Etimos ) which uses it as a Guarantee Fund for Bank Loans . At this point Etimos, or someone on its behalf, chooses some banking institutions and invites them to lend money to earthquake victims , guaranteeing these loans with the Guarantee Fund put together with the SMS donations.
For the banks these are zero risk loans, as if the earthquake victim were to be unable to pay the instalments, they could draw from the Guarantee Fund and would not lose a cent. It must be said, as the only weak defense of this system, that the loans are usually at a subsidized rate compared to normal first home mortgages. But there are always some healthy interests, don't worry! In the specific case of L'Aquila, for example, banks lent money to earthquake victims at an average rate of 2.5% . These loans could be provided to individual citizens, businesses or cooperatives .