Undoubtedly, the persons in some moment of his life have heard to speak about the usury, without understanding of course what his real meaning was. So that the reader finds out about this topic, this finance blog will realize a pair of articles to try to tell what the usury is.
In this opportunity, it will be a question of simplifying this topic so that the readership could have a clearer idea on what “the usury” is and how it is seen in the different sectors of the international community.
According to the definition of the dictionary of the Spanish Royal Academy, the term usury has a double appreciation. On the one hand, it is the “interest that takes in the money or the genre in the mutual contract or loans”. Although also RAE defines to usury like the “excessive interest in a loan”.
As regards the latter definition of RAE, the fact is that this note will center about the usury, an international practice that turns out to be much questioned by different sectors of the society and by the one that understands that it takes place when a person must pay an interest even major than the allowed one by the law.
Across the times, the usury concept have been condemned, prohibit, restrict and despised in the moral, ethical, religious and legal ambience, according to the web site HEnciclopedia.org.uy. It turns out that in other epochs it was a seen evil, rubbing the immoral thing, that was receiving interests from itself when capital was lending. On the contrary, it was understood that a person had to pay the same sum of money that was given him.
Now it has to center on two important items: the usury in the world and the position of the Catholic Church.
For giving a clear example on the usury, it would be interesting to emphasize the case of Uruguay, where this financial form is prohibited by the proper Constitution of the Republic, in whose article number 52, it expresses to itself: "Prohibit him the usury. It is of public order the law that indicates maximum limit to the interest of the loans. This one will determine the sorrow to apply the offenders to herself. Nobody will be able to be deprived of his freedom by debts”.
Likewise it happens in Uruguayan territory, his prohibition is usual in the whole world, even in the developed country.
Although in other epochs it was not very well seen that was receiving from himself interests in the given money, it is important to add at present the moderate interests agreed by the law of the different countries when credits and loans are granted, there are clearly an insurance for those persons or institutions that give capital to the persons.
The position of the Catholic Church
The Catholic Church questions the practice of the usury, as regards the excessive interests in financial deals. As regards this topic, and in the frame of a meeting carried out in full Square of San Pedro, Vatican City, the Pope Benedicto XVI called against the excessive interest and praised the big work realized by the Consultation Nazionale Antiusura.
In this occasion, the supreme pontiff asked the Italian State for a major regulation in this sense and that should rest all the persons who denounce the usury and, also, it urged to fight of effective form against this phenomenon that, according to words of Benedicto XVI, constitutes a “humiliating slavery”, published the news agency EFE.
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