CONSIDERAZIONI IN TEMA DI REGOLAMENTAZIONE GIURIDICA DEL MICROCREDITO E LE MANCATE SFIDE DEL SISTEMA CREDITIZIO

For thirty years, microcredit and microfinance have operated a "revolution" in access to financial services and approach to risk transfer, revealing instruments through which it is possible to broaden the base of financial inclusion and social . The recent global crisis has accentuated the need to provide financing instruments available to insolvent entities . International experiences emphasize that microfinance should be able to “make the bankable not bankable”. This approach is acceptable in an Italian context, provided it is declined and be properly explained. In the face of a phenomenon as economically and socially important, surprising the absence of an international and European framework. This gap between economic data and legal regulation introduces the object of the present analysis and perfectly reflects the critical issues that characterize this theme. It seems useful to recall the main legal acts regulating the microfinance both European and international level to demonstrate how the discipline it is also difficult to detect because of the many and varied relationships that characterize the institution.