Economic Inclusion Group

Desde Eurodefense Joven Espa?a, Transatlantic Dialogue Center y International Renaissance Foundation , nos complace anunciar la conferencia Invasión de Rusia a #Ucrania ???? y su impacto en #Europa ???? Esta consistirá de dos paneles, en los que tendremos la oportunidad de escuchar a expertos y relevantes miembros del gobierno de Ucrania ???? que participarán de manera presencial. Mientras tratamos cuestiones de gran importancia como son: ?? Las relaciones entre Espa?a ???? y Ucrania ???? ?? Economia de Guerra y su impacto en este conflicto. Os esperamos, el Martes 15 de octubre a las 16h en la calle de Maestro Victoria 3, Madrid. Este evento requiere de inscripción: ?????? https://lnkd.in/dFUuWWtz

What it could have been …

Immigrants deserve a #RightToBanking! We continue working towards this goal, moving forward our resolution proposal in the Parliamentary Assembly of the Council of Europe (PACE)!

Through our partnership with the Global Democracy Coalition and International IDEA, we will continue working to promote the values of democracy, inclusive governance and economic opportunity. For our democratic systems to thrive, young people have to feel optimistic about their economic future. They have to feel economically included and empowered.

Dear friends, I have been asked in the past days whether #Venezuela is about to lose Citgo Petroleum, the U.S.-based oil refining and gasoline company valued at $13 billion.? There is the wrong perception that #Citgo’s shares will be auctioned off on July 15th. In reality, on that day there is only a hearing to know the second phase of offers.? As Jose Ignacio Hernandez Gonzalez mentioned recently, “There are still months of litigation ahead to be a final ruling.” Additionally, any transaction requires the approval of the U.S. Treasury Office of Foreign Assets Control (#OFAC). As of now, 18 companies are included in the list of creditors of PDV Holding. Collectively, their claims total $21 billion for expropriations and debt defaults. Overall, this shows the level of economic mismanagement by the Venezuelan government. It also shows the titanic job we have ahead in Venezuela when it comes to jump-starting our economy, renegotiating international agreements, and overall, bringing quality of life to our people.

The Financial Inclusion Commission just published a report calling on the next UK Government to bring forward a National Financial Inclusion Strategy. ?????? ????????: 5% of UK households do not even have a current account. About 70% of those were aged 65 or over. 7% Seven percent of UK adults were digitally excluded in 2022. 13% of people who had held insurance in May 2022 had to cancel it to cover specifically to save money due to the rising cost of living. 18% of families had no savings in 2021-2022. 22% of adults increased borrowing due to the cost of living crisis.

?????????????????? ???? ???????????? ???????? ?????????? ???????? ???????????????? ???? #????????????????????. ING made the decision to close the accounts of over 30,000 people, arguing that these retail clients are no longer profitable to the bank. In fact, ING ultimately expects to reduce its retail client base from 90,000 to 30,000 clients. This shows the future of banking if we don’t push for financial reform. Compliance costs are growing to the point that regular people are being excluded from the financial sector. Without access to banking, people don’t have the tools to become self-reliant and productive citizens. This is why we need to guarantee a #RightToBanking for all people.

Without Reform, Access to Banking Will Become a Privilege of The Few: In the past years, G7 countries have been pushing for more regulations in the financial sector. Some regulations are aimed at protecting the stability of the system, while others focus on the integrity of the sector. When it comes to the latter, these efforts have been mainly focused on preventing money laundering and other financial crimes. These measures are known as AML/CFT regulations. And while they are well-intentioned, they are having profound unintended consequences. Vulnerable groups - like immigrants for example - are now having tremendous difficulties opening bank accounts. Why? Because they usually come from difficult countries known for their illicit activities. This makes many immigrants to be labeled as “high-risk” clients. Because of this, millions of people are being denied access to financial services. They are now paying the price for the crimes of a minority - the same minority that actually forced all these citizens to flee their countries in the first place. We need financial reform. The #UnitedStates and #EuropeanUnion have to address this issue. This is not only a matter of dignity for millions of people. It is also important from an economic standpoint. If people don’t have financial integration, they will never be able to become productive members of society. Our countries urgently need innovation, entrepreneurship, and economic growth. Financial inclusion is the building block to make this happen. People deserve a #RightToBanking.?

We are today at IESE Business School annual banking meeting in #Madrid.

We live in a geopolitical landscape marked by rising tensions, emerging conflicts, and extreme uncertainty both within and beyond democratic states. For the second year in a row, I am attending Alliance of Democracies Foundation premier event: the Copenhagen Democracy Summit. I am particularly interested in discussing the political effects of artificial intelligence, the security architecture of Europe, and the effects geopolitics is having on global trade. As the world is dividing itself into two blocks between democracies and autocracies, I am also particularly interested in talking about the role of Latin America, as the region should have a greater role in the future.