Microcredit loans have revolutionized the world of finance in developing nations. Now Muhammad Yunus, the Nobel Peace Prize laureate behind the concept, wants to see similar programs in the industrialized world. In a Spiegel Online interview, he explains why Germany's poor should be given loans.

SPIEGEL ONLINE: Mr. Yunus, you provide microcredit to people in developing countries through the Grameen Bank. Is a similar program required in Germany?

Muhammad Yunus: Definitely. Even in Germany, there are lots of people who are being shut out of the banking system, like unemployed people. Bankers see them as too big a risk. Yet they are the very people who need loans.

SPIEGEL ONLINE: Why? The unemployed get state support.

Yunus: That is the usual system in rich countries, like Germany. But there is no incentive to generate new income on unemployment payments. The next payment is coming next month after all. This robs people of initiative. One could also give the unemployed microcredit, allowing them to start their own businesses. Capable people should not sit in front of the television, like zombies, without having something to do. Their potential and skills go unused, their creativity is wasted.

SPIEGEL ONILNE: Would you grant microcredit to every jobless person?

Yunus: Everyone should have the right to a loan. You could say that you'll give someone €100 or loan them €500. It's a better way to distribute money. If only half of the people pay back the money, then it's already a success. And if the person receiving the loan is successful, that will encourage others. Pride returns.

SPIEGEL ONLINE: There are already a lot of opportunities for jobless people to receive subsidies to start a business from the state. The KfW bank, a federal institute, already gives small loans. Why does Germany nevertheless need microcredit?

Yunus: State programs usually have strict bureaucratic procedures, from which there is no deviation. Some people raise their capital from this system and get around the rules. Not because they need the loans but because they know they can trick the system. Others don't even make the cut because they don't fit a certain profile. Also, the state is not necessarily interested in sustainability when providing credit. Finally, the money is financed by tax payers.

SPIEGEL ONLINE: Does that mean microcredit should instead come from private institutions?