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Editorial Note: Rainy season is hard upon us, so now is a good time to stay indoors, and maybe enjoy a little reading. Like this issue of El Residente for example.

Herein you will ďŹ nd some interesting new issues on the legal situation in the country, as well as some lighter articles just for your enjoyment. New issues in Immigration, dealing with employees, and a caution for investing.

Ana Hernandez is back with us talking about, well, the rain.

While Allen has provided us with an article on noise, which would include, of course, the rain.

So stay indoors, curl up, and enjoy this edition while the rain patters away on your roof overhead.

- Ryan Piercy

July 25th is Guanacaste Day, enjoy the festivals!

This magazine has been published every two months for 14 years as the official communications media of the ARCR. Our organization provides service to thousands of foreigners who have chosen Costa Rica to reside for short periods or for permanent residence.

Since 1984 the ARCR has been offering reliable SERVICES, INFORMATION and ADVOCACY to Costa Rica’s foreign residents.

We have the experience and ability to help you with your residency application, immigration, business and financial management, real estate purchases and rentals, property management, insurance, pet importation and much more.

If you wish to place an ad in El Residente, please contact the ARCR main office. Goods & services offered are paid advertisments.

Neither ARCR Administracion nor El Residente research the companies and take no responsibility for the quality of such goods or services.

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purposes or services; we think the final step in activating the ARCR Foundation for charity purposes here in Costa Rica is completed for which we thank Atillio Gilberti, a long time ARCR member. His

by The Board persistence in seeing this Foundation through and his personal charitable Hola ARCR Members, activities, especially with children and the Hospital de Los Ninos, will be a part of After my comments in the last few EL RESIDENTES ARCR history; and finally, Ryan Piercy is about the “Yo-Yo” colone versus the U.S. dollar, I in the process of creating a new coalition have no more thoughts. It’s beyond me!! The Yo-Yo web site to provide access to activities and services of also seems to continue with the U.S. dollar and other major various Charity groups here in Costa Rica. Check with the world currencies. As I am planning a visit to Europe this Fall, office for that website. my current interest is when to purchase Euros for the trip??

Today? Tomorrow? or Yesterday? Any thoughts?

October of this year ends my term as President along with

Presidents Re epor t

A continuing reminder for all of you perpetual tourists, please get yourself legal with residency. In the ARCR office, since March 1st, we have had a number of folks needing help as Costa Rican immigration has only allowed them 30 day visas instead of the usual 90 days. Which can be a real problem if you have assets here. If for any reason you find yourself deported and you own properties here in Costa Rica, certainly you can “trust me??” (or someone else??) to sell your stuff and send you the proceeds?? Ha-Ha!!

A couple of topics we address at our Seminars the last Thursday and Friday of each month are U.S. taxes and Medical Travel Insurance. For all of we U.S. citizens with worldwide IRS obligations, a couple of important reminders.

If you have $10,000 or more in an account outside the U.S. for one second of time, or more, Uncle Sam wants to know about it. If you own a Costa Rican corporation (for your house, car, etc.) Uncle Sam wants to know about it. If you leave the U.S. with $10,000, or more, Uncle Sam wants to know about it. And on, and on, and on. If you need help with Uncle Sam’s obligations, ARCR can recommend qualified tax people here in Costa Rica. One such just saved a friend of mine several thousands of dollars per year. If your medical insurance does not cover you while traveling, there are a number of excellent Travel Medical Coverage Plans available and reasonably priced. Juan Carlos in the INS office here in ARCR offers plans as well as Ricardo Schechter with the Bupa insurance company. I believe that the travel plans purchased here in Costa Rica have better prices/coverage than those offered from the States.

three other members of the Board. If any of you out there are interested in volunteering to help continue the excellent ARCR history by serving on the Board or a committee, please let me know.

Lastly, join us for Happy Hour after the Seminar at Restaurant Fogo Brasil. Terrific bocas, cash bar, and meet new folks.

Terry Renfer

---------------------------------------Association of Residents of Costa Rica FIRST FRIDAY LUNCH The first Friday of each month finds a group of ARCR members and staff sharing lunch and good conversation at Hotel Parque del Lago. Beginning around 1:00 PM members gather in the restaurant. You will find it about 1 block North of the ARCR office. All are welcome!

COFFEE HOUR- VARIOUS GROUPS Tuesdays: Curridbat: Mannie & Nuntz at 10:30 AM in the soda. A lot of stock market talk Every Week Day San Jose Downtown: McDonalds and Wendys in the AM Escazu: Bagelmans and Cafe Artista in the AM

MONTHLY NEWCOMERS SEMINAR

Join us on the LAST THURSDAY and FRIDAY of ANY MONTH (except December) to find out more about what it is like to live A few recent actions by the Board to tell you about: ARCR in Costa Rica, and how to go about getting things done here. is in the process of making a slight change in our name, for We invite professionals from each field to share their knowledge some technical reasons, which will not affect in any way our and expertise with you. Hear what they have to say and ask

Cover Shot July is the festival time for Guanacaste, full of its very own particular style of culture, akin to the Wild West, with friendly cowboys, frisky horses, rodeo, and that all important symbol of Costa Rican Imperialism... (photo by M. E. Walker)

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SPECIAL NO OTIC CE

by Mel Goldberg

Marine Corps League The Ernest G. Familier Costa Rica detachment of the Marine Corps League has been formed and is now functioning here.

All U.S. Marines and all U.S. Navy Hospital Corpsmen who trained in excess of 90 days with marine FMF units and earned the Marine Corps Device or Warfare Device worn on discharged from that service so that they may the service ribbon authorized for FMF Corpsmen are eligible effectively promote the ideals of American freedom and democracy, voluntarily aiding and rendering for membership. assistance to all marines and former marines and to their widows or orphans, and to perpetuate the Marine Corps Mission Statement history of the United States Marine Corps and by Members of the Marine Corps League join together fitting acts to observe the anniversaries of historical in camaraderie and fellowship for the purpose of occasions of particular interest to Marines. preserving the traditions and promoting the interest of the United States Marine Corps, banding together For further information and an application for membership, those who are now serving in the United States please call Commandant Bill Enell at 8812-0126 or email to Marine Corps and those who have been honorably mcleaguecr@yahoo.com.

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four productions a year offering a choice of modern, classic, serious, and farcical plays. The group’s monthly social meetings are held in the theatre on the first Monday of the month from 7p.m. to 9 p.m. and everyone is welcome. Membership: Student C2,500, Adult: C5000, Family: C8000. Also, earn your Wings, become an LTG Angel. For more information Call the LTG Box Office 8858-1446 or www.littletheatregroup.org

Alcoholics Anonymous Groups meet daily throughout the country; times and places change frequently. Call for up-to-date information.

San José 2222-1880 (Anchor club, also serves Narcotics Anonymous) Av 6 Calle 1, 2nd floor Maryland Building.

Heredia (Laura) 2267-7466, Puerto Viejo Limon 2750-0080, Zancudo 2776-0012, Tamarindo 2653-0897, Flamingo (Don) 26544902, Manuel Antonio (Jennifer) 2777-1548, Jacó (Nancy) 2637-8824, Zoo Group Escazu 2293-4322.

Al-Anon Meetings Al-Anon Family Group is for all family and friends of Alcoholics. For information in English, please call Martha 2483-1275 or Sandy 2266-1061; For Spanish please call Christine 8840-4658 American Legion Post 10- Escazu Post 10, The oldest and largest American Legion Post in Costa Rica, meets at 12 noon on the first Wednesday of each month at the Bello Horizonte Country Club. For information and map, please call Mel Goldberg at 2288-0454 or 8870-6756, or John Moran at 2232-1680.

American Legion Post 12- Golfito Meetings are held 4 pm 1st Tuesday every month at Banana Bay Marina. The Golfito GOVETS have been helping Southern Costa Rica for over 20 years. Contact Pat at walkergold@yahoo.com or 2775-2809.

American Legion Post 16- Heredia All veterans are welcome. Meetings are the second Tuesday of the month at Hotel America in Heredia at 12 noon.

Contact Post Commander Jim Young or Post Adjutant Ken Johnson at 2591-1695.

Bird Watching Club The Birding Club of Costa Rica sponsors monthly trips to observe local and migrant birds in various areas of the country. For more information contact us at 2282-5365 or at costaricabirding@hotmail.com Canadian Club (ACCR) Come one Come All! Everyone is welcome to our Annual Canada Day Event, coming June 27th to Zamora Estates in Santa Ana. Tickets now on sale at the ARCR (2233-8068) or Out of Bounds (2288-6762) for information visit our website: www.canadianclubcr.com Democrats Abroad Democrats Abroad meets on the last Saturday of every month at the Aurola Holiday Inn, San Jose. Contact Nelleke Bruyn, 2279-3553, e-mail cr.democratsabroad@yahoo.com. Join Democrats Abroad at www.democratsabroad.org. Register to vote absentee at VoteFromAbroad.org!

Little Theatre Group LTG is the oldest continuously running English-language theatre in Central or South America. The group currently puts on a minimum of

July- August, 2010

Newcomer’s Club Newcomers Club of Costa Rica (for women) meets the first Tuesday of every month, September through May. September meeting will be an interest fair. Contact: 2416-1111 costaricaporo @yahoo.com or http://www.newcomersclubofcostarica.com PC Club of Costa Rica This computer Club meets on the third Saturday of each month at Pan American school, in Belen, 830 to 11:30 am 2 months Free Trial for newcomers. For information call Chuck Jennings.

Phone 2266-0123 www.pcclub.net Republican’s Abroad The Republicans Abroad of Costa Rica meets the second Tuesday of each month. Contact Francis 2203-6131, or or fax 2282-2150.

Radio control Sailing Club Meets at Sabana Park Lake. For information contact Walter Bibb.

Wwbbsurf40@yahoo.com Wine Club of Costa Rica Please mark your calendars The wine club usually meets at 1 P.M. on the last Sunday of each month. Join us to tantalize your taste buds and expand your education.

For more information on upcoming events please contact us Phone 2279-8927, 2257-2223 Women’s Club of Costa Rica In 2010 The Women’s Club celebrates 70 years of philanthropy in Costa Rica. Current programs focus on education, primarily through scholarships and development of school libraries for children. It is one of the oldest, continuously operating service organizations in Costa Rica. WCCR membership numbers 250 English-speaking women, representing 25 countries of the world, drawn together by the motto: Friendship through Service. Monthly meetings with guest speakers are held the second Wednesday of each month, as well as regular luncheons, teas, and many interest groups. Guests are welcome and further information can be found at www.wccr.org Women’s International League for Peace and Freedom (open to men too) Bilingual group meets in Heredia on the first Wednesday of the month at 10 a.m. in the clinic of Mireya Gonzalez. We work on peace and human rights issues. Call Mitzi 2433-7078 or write peacewomen@gmail.com Young Expats of Costa Rica Some Expatriates under the age of 40, and currently living in Costa Rica, have formed a new social club to be coordinated through their website This club will help younger expatriates living in, or moving to, Costa Rica meet other expats in their age group for; friendship, romance, travel and activity partners, and professional networking. www.YoungExpatsOfCostaRica.org Veterans of Foreign Wars: Post 11207 Meetings are held at 12 noon, the first Tuesday of every month, at Club Colonial Casino on the second floor. All members are welcome and veterans who served overseas may join. For info please email the post at vfw112072003@yahoo.com.

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Costa Rica Liv vin g

by Ana Hernandez

A Celebration of Perpetual Spring

churches in Costa Rica celebrate their patron saint with festivities lasting several days. These fests are little country fairs with mechanical games for children and a yummy variety of foods offered at many stands. My San Isidro´s festivities are celebrated in May of each year and a nice feature of the fiesta are the colorful oxcart parades.

There are dozens of towns named San Isidro in Costa Rica.

I live in one of them; San Isidro de Heredia, high up in the Zurquí Mountains, where there are almost always, clouds lurking in the sky and the possibility of rain any minute of the day.

My San Isidro, just like all the others, has a patron saint San Isidro Farmer – the patron saint and protector of all the animals and farmers. And my San Isidro is truly a town of farmers, oxcarts, and boyeros (the men who guide the oxen and make them obey with a mixed language of exclamations and the sharp metal point at the end of their wooden stick.)

The oxcart has become a national symbol in Costa Rica and is associated with the work of campesinos, the humble farmers who still in modern times use the oxen and the oxcart to help them transport heavy loads and to harvest goods from the fields.

Many ancient cultures used to celebrate the arrival of spring with sacred rituals to pay tribute to Mother Earth, pregnant by this time with sunshine, wild flowers, and the thrilling aroma of rain and wet earth. It was also a good time to honor the men and women who worked the land and the bountiful rewards received from their toil.

Keeping with that tradition, the Catholic

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Another tradition of the celebration of San Isidro Farmer is the creation of a lavish garden built by town folk inside the church with the best and biggest samples of fruit and vegetables to be enjoyed by the community. Because the saint also offers protection to both farmers and animals, people sometimes bring an assortment of pet creatures to the front of the church to be blessed by the priest.

Thanks to local growers we can enjoy a variety of fruits, vegetables, and grains produced by local farmers that can be purchased at inexpensive prices at the traditional farmers’ markets all over the country on Saturdays and Sundays.

Many families are able to save a bundle when they buy their fruit and veggies at the fair.

Just as the song goes, “to every thing there is a season,” and in this country there are seasons for planting and harvesting.

With our celebration we honor those who have the noble mission of bringing food to our table, knowing others are fed through their efforts. The rest of us are happier, more content folks when we have a full belly, and we should be thankful every day to the ones who work and produced the bounty of the land.

In Costa Rica we are blessed with sunshine and lots of rain; we have an Continued on page 7...

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abundant supply of both. Each year the Central Valley gets drenched from May through October, and often beyond the wet season. The Caribbean region alone gets a rainfall of a bit more than 100 centimeters per month; the whole region practically doesn’t have a distinct dry season. The torrential amounts of rains also flood the area constantly but this weather phenomenon is part of life in the tropics, just as hurricanes are part of life by the sea.

Rain is a normal part of our lives in our country. We are so used to it that we carry umbrellas everywhere as part of our daily routine; we are used to getting splashed by moving vehicles (most of whom don’t even slow down when people are negotiating to get across the street.) We are used to rainy weather in the city, in the countryside, in the mountains, and in the forests.

We are also used to getting wet when the rain takes us by surprise. We are used to gentle rains, quick downpours with heavy droplets, rain that falls through the entire day and night, rains that bring strong winds, and some that fall like transparent curtains of fine hair. In Costa Rica we call this misty rain, “pelo de gato” or cat’s hair.

games. We chanted the lines of a little poem we had memorized in honor to San Isidro Farmer, and repeated those lines over and over like a mantra. The lines of the poem in Spanish said: “San Isidro, el Labrador, quita el agua y pon el sol.” A loose translation to the poem is: San Isidro Farmer, hide the rain and make it sunny! As I look back, I see how contradictory our little game was. We did not want to come inside the house to look for shelter because it was too much fun playing in the rain, but we kept on begging for the sun to come out, so we could play some more.

And now as an adult, I still remember the lines in that little poem and I can always beg for sunshine, even during stormy weather.

Ana Hernandez has worked with multi-cultural and intercultural communication issues in Costa Rica and the United States for over twenty years. She and her sister Maria run a study abroad organization and are directors of the Center for Cultural Interaction in Costa Rica, an educational agency dedicated to furthering cultural understanding among people from different countries.

Most Ticos also seem to have an inner clock that tells us when it is about to rain, and whether it will rain in the afternoon or in the evening. Weather, just like everywhere, is the talk of the town and a good reason to start a conversation, or to complain when there is too much rain.

When I was a child, I was fascinated, as most children are, with the sound and feel of the rain. We used to get completely soaked from playing in the rain and did not obey the calls to come inside. My friends and I invented

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end domestic violence.

Connection n by the Women’s Club of CR

The Other Side Of Love, a radio novella

WCCR contacted INAMU. The organization introduced WCCR members to Fresia Camacho, producer at Voces Nuestras, a communication company that focuses on political and educational topics. At the time, Voces Nuestras needed sponsors for a radio novella that would create awareness on domestic violence, said Camacho.

The committee was excited about having found this organization; it would be the first time the Club sponsored an intangible project; usually its funds went for equipment, supplies or scholarships. The proposed gift was to Voces Nuestras for “La Otra Cara del Amor” (The Other Side of Love), a 25-chapter radio novela about domestic violence.

Though many members understood the seriousness of the issues, it was also the first time the Women’s Club had made a donation that was seen by some members as if the Club were meddling in Costa Ricans’ personal affairs.

The proposed project nearly caused a divide in the Club, For its 60th anniversary in 2000 the Women’s Club wanted according to The Tico Times. to give something special to the women of Costa Rica. After all, it had been a successful year of fund raising according On June 13, 2000, WCCR members voted, and the radio to Phylliss Crist, who was the chairperson of WCCR’s social novella project, “La Otra Cara del Amor,” won on a slim service committee. margin. But the success was big.

For seventy years the Women’s Club of Costa Rica has built a reputation for its generosity. Their early donations included earthquake disaster relief funds, equipment for Hospital de Niños and for the Hospital San Juan de Dios, equipment to completely outfit an Intensive Care Unit and the purchase of a mammogram machine—the first in the country. In 1977, the organization also started the existing scholarship program. These are just a few examples of their contributions.

Dorothy Boone, WCCR’s president in 2000, asked Crist to appoint a subcommittee to study what area of service in Costa Rica would be appropriate as a recipient of the award in celebration of the Club’s anniversary.

Radio novela producer Fresia Camacho said she was excited to know that WCCR, the second largest donor, not only presented Voces Nuestras a $15,000 donation for the production of the radio novella, but also stood by their side during the production. “For us, it was very significant, and For over a year the sub-committee searched for a special possibly we wouldn’t have been able to accomplish all that gift. Its members met with counselors, psychiatrists, we did without your support,” said Camacho who thanked psychologists, and government and religious organizations WCCR “for being willing to run risks along with us.” to find an appropriate recipient for the award. After looking at numerous possibilities, including a women’s shelter, they The radio novella has been aired in over 20 countries chose domestic violence as the theme for their donation. during 10 years. Every time it was aired in Costa Rica, a hot line number was given after each broadcast for people “We chose that [domestic violence] because that was a to report domestic violence. The hotline center informed very, very, important topic in the news at the time,” said Fresia Camacho that after each airing the number of callers Dr. Margaret Dickeman Datz, member of the social service reporting domestic violence increased substantially. committee. “Costa Ricans in general were paying a lot of attention to it.”

In 2002, “La Otra Cara del Amor” won the Columbine award at the Festival Moondance for the best radio novella In the late 1990s, domestic violence awareness in Costa produced by a woman.

Rica was increasing. Every November 25th, men, women, and children peacefully demonstrated on the streets of San Notes: José calling for an end to domestic violence,The Tico Times • Disclosure: Margarita Persico has been a member of reported.

WCCR since 2009. She is a Journalist who relocated from Boston after receiving a master’s degree in liberal “Violence against women is a citizen’s security problem,” arts in 2009 from Harvard University. She can be found affirmed Mayrene Sánchez, coordinator at El Instituto at http://www.margaritapersico.com/ Nacional de las Mujeres (INAMU), a governmental organization. “The first national plan against domestic To contact Women’s Club of Costa Rica, www.wccr.org or violence was created in 1996,” added Sánchez in the email secretary@wccr.org telephone interview. INAMU has strived for twelve years to

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Immigration n Update

visa times, especially if their passports register multiple entries into the country. It is at the option of the immigration officer whether they give you 90, 60, or 30 days upon entry, or in a worst case, no entry at all.

We also have strong reports from members of Migracion Police working in outlying areas with greater diligence, and much more effort than has ever been noticed before. Those who are working under Tourist Status are direct targets, and And The Change Goes On are the group that Migracion appears most interested in at 4 months have passed since the new law came into effect, this time. yet still we await the finalization of the Reglamentos (bylaws) that clarify the details not published in the law. Though they The country definitely appears to be clamping down in an are supposedly nearly finished, perhaps they are not as the effort to deal with its severe immigration problems, due primarily to foreigners from neighboring countries. government continues to add new details to the process.

by Ryan Piercy

The newest twist in the process is the requirement of submitting you local Hoja de delincuencia (Costa Rican Police Letter) before obtaining your cedula. Not only is this new, but the big twist is you will have to submit it not only to obtain your cedula, but also a new one to renew your cedula, or to change your status.

Do you live in San Jose?

Is your electric provider CNFL?

It appears the government feels a need to cross check with the other institutions to make certain there are no problems, and we believe if any issues arise, it will be more difficult to obtain the renewal.

If so then are you aware you may be eligible for lower residential electricity rates? The Compania National de Fuerza y Luz is offering a program to its clients for using electricity during low usage times, with rates as low as 1/3 the regular price.

In any event, the ARCR will add this as part of its Cedula Renewal Service so that our clients don’t have to be concerned with this step, and we will ensure that the attorneys we work with also obtain them for the clients when applying for residency or changing status.

To affiliate to the service you must go in to an office of the CNFL to apply so that your meter can be changed.

Cedula Costs It appears that among all the new fees being levied by Migracion, the cedula fee finally seems to have settled at a clear rate of $123 for a 1-year issue. This appears to be made up of $88 for the plastic + $10/year + $25 education tax.

Fees are being increased in several other areas as well, such as change of status and application for the first time. Foe tourists who overstay their visa, the fine will be $100/month overstayed, which is a far cry from the few hundred colones charged just a few years back.

The new meter will register your usage based on the time, with lower rates between 6 am to 10 am, and 12:30 pm to 5:30 pm. Much lower rates are charged at night from 8 pm to 6 am.

Be Aware however, that if you use the new system during peak hours (10 am to 12:30 and 5:30 to 8 pm) your cost will be 2-3 times higher than the normal rate. see www.cnfl.go.cr for contact details

Migracion Clamping Down While certain sources continue to encourage the concept of remaining as a perpetual tourist, the ARCR now strongly advises those who wish to remain here to make application for residency. We are receiving more numerous reports than ever of persons not being allowed in, or being given shorter

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July- August, 2010

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Legal Updatte

by Allan Garro N.

Liquidating Employees, That Letter is just a Reference.

month worked. Example: If an employee worked 6 months at a monthly salary of 250.000 colons per month, which divided by 30 equals to 8,333 colons per day, the amount owing is 6 days of salary or 49.998 colons.

Aguinaldo (Christmas bonus or thirteenth month salary) No matter how the relationship ends, a worker has the right to receive payment according to the number of months worked to date, unless the employee was just paid Aguinaldo.

Under the law the employee has the right to a full month of salary, payable between December 1st and 20th, provided the employee worked the entire year. If the employee worked less than a year the right to payment depends on the number of months actually worked. Example: An employee worked 6 months at a monthly salary of 250.000 colons. Divided by 12 (the number of months in the year) this is 20,833 colons per month. When multiplied by the number of months worked (6) the result is the amount to be paid, or 125.000 colons.

Hiring an employee in CR involves a lot of responsibility, such as registering the person with Social Security, purchasing an insurance policy similar to Workman’s Compensation with the national insurance company –INS-, giving vacation time, paying aguinaldo as well as paying separation pay when the relationship ends. The amount payable on separation depends on how the employment ends, causing considerable conflict, since the correct amount to be paid is often not clear to the parties involved. This can be confused further when PREAVISO. (Advance notice) a worker visits the Labor Ministry to get a calculation of their If an employer wants to terminate a labor relationship, advance notice must be given. This depends upon the length final liquidation. of the relationship: • Less than 3 months: No notice is required since Conflict usually arises when the worker appears in front of the this is considered a trial period. employer with the calculation sheet entitled ESTIMACIÓN • 3 to 6 months: 1 week’s notice DE DERECHOS, thinking that this is some kind of order to • 6 to 12 months: 2 week’s notice pay, and the employer doesn’t have a clear understand of • 1 year or more: 1 month’s notice the document. If analyzed carefully, it states in small print at the beginning “Upon the petitioner’s request and based exclusively on information provided by the petitioner, we Once notice is given the employee has the right to take one estimate the possible amounts that could be payable to said day per week off in order to look for another job. In case petitioner…”. The estimate is then divided into 3 different the employer doesn’t want to provide advance notice the calculations shown as a, b and c, that include another small employee can be paid the equivalent in salary. When a worker print warning: a) Fixed rights that do not vary… b) Rights resigns he or she is obliged to provide the employer the same which are subject to documents proving the type of activity… advance notice, or they may be required to compensate the and c) Extreme litigious rights. We DO NOT GUARANTY employer for having not doing so. these rights or accuracy of the calculation.

The employer is not required to pay preavisa when the worker To be perfectly clear, at the bottom of the document, also commits a serious fault that would be considered a legitimate in small print, it states: “The above calculations depend on cause for firing under article 81 of the Labor Code. accuracy of numbers and facts provided by the petitioner.

We warn that for settlement purposes, group a) rights CESANTÍA. (Severance pay). normally don’t vary, group b) rights tend to be low and group If an employer wants to terminate a labor relationship c) rights may not exist. Therefore, the total stated amount severance pay is required. The amount depends on how shall be considered only as a guide to reach a settlement”. long the relationship has lasted.

• Less than 3 months: No payment is necessary as The calculation sheet provided by the Labor Ministry is only this is considered a trial period. (This is only 1 month a guide to help the parties reach an agreement, so it’s very in the case of Domestic employees) important for the employer to understand this as well as • 3 to 6 months: 7 day’s salary to ensure the employee understands it also. It is perfectly • 6 to 12 months: 14 day’s salary legal to agree to an amount different to that shown on the • 1 year: 19.5 day’s salary. calculation sheet.

As a general guideline here are the fixed items that usually The amount accumulates to a maximum of 8 years, regardless of additional time worked beyond that period. have to be paid: Workers can also claim for things such as overtime, worked holidays, salary differences, and so on. The important thing Vacations: No matter how the relationship ends, the worker always has to understand is that the ESTIMACIÓN DE DERECHOS the right to payment proportional to the number of months provided by the Labor Ministry is to be used only as a guide worked, unless vacation time has been taken. Under the law to reach an agreement and avoid legal action. the employee has the right to 2 weeks of paid vacations every 50 working weeks. If the employee has worked less than 50 Allan Garro N., Attorney at Law weeks he or she has the right to be paid for one day per law@licgarro.com

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July- August, 2010

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A Day In Th he Life

by Allen Dickinson

Huh? Say What?

Some of you may remember my story “Sleeping with Chickens” published here a while back. Well, here I go again, but this time my rant is about some of the other sources of ‘noise’ here in Costa Rica.

Anyone that has spent any time here knows this can be, at least in the urban and semi-urban areas, a very noisy country. A few of the sources of environmental noises are loud stereos, endlessly barking dogs, crowing chickens, and the cars with the huge speakers on top that regularly cruise the neighborhoods announcing a special sale rust-proof avocados or Teflon-coated, stainless-steel rice steamers at a local store.

In the higher volume category are the occasional fireworks exploding (at all times of the day or night) and the ubiquitous car alarms. (Why would anyone set the sensitivity of their car alarm so low that any disturbance beyond the alighting of three flies will set it off? Don’t they get tired of having to reset it?) Also, I can’t leave out those big trucks with a “Jake Brake” slowing for a stop sign or coming down a grade.

Chicken Man, They’re everywhere! They’re everywhere! (If you don’t know who Chicken Man was, he was the main character in a syndicated, serialized, satire on super-heros that ran in two-minute vignettes on US radio stations in the late seventies / early eighties. His catch phrase was, “He’s Everywhere! He’s Everywhere!” If you missed him and like satire, I hope you were at least able to follow Mary Hartman!

Mary Hartman! on TV.) On the subject of noise generated by loud quads and dirt bikes, I live just around a corner on a back street that is a shortcut these abominations like to use. And they just love to accelerate out of the turn, which makes their exhaust attain the loudest possible decibel level right outside my door -- a noise which is extremely irritating.

Don’t get me wrong, I like motorcycles and have owed several, including three different dirt bikes. But, because of the loud, LOUD noise they are prone to making here, I have been waging a one-man campaign to convince the local Ticos that we Gringos think that the louder the (non) muffler on some passing motorcycle or quad, the smaller the male rider’s, ahh, ‘personal equipment’. And, that we indicate that opinion by holding up one hand with the little finger extended But to me, the most irritating of all the sources of noises to indicate, “There’s somebody with a really small ...” Well, are the extremely loud dirt bikes and quads. To paraphrase you can figure it out. Maybe, in time, they’ll get the message, but I’m not holding out any hope.

Another, somewhat lesser source of noise is the chatter. For some strange reason it seems that many Ticos love to hear the sound of their own voices -- they will often talk non-stop about anything and nothing, frequently with two or three persons speaking simultaneously. It doesn’t take a lot of car trips or visits to the movies to realize how much Tico’s like to talk -- anywhere, any time.

But, I digress A man’s house is his castle, right? One can always retreat inside their home and get away from a lot of the external noises -- when the windows are closed, these cement houses do a pretty good job of insulating sounds out (as long as they aren’t right outside) so inside one can get some degree of respite from a lot of the pervasive sounds of Costa Rican life.

That is effective, of course, only if the source of the noise is not inside with you. Those hard cement walls and tile floors Continued on page 15...

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do a pretty good job of keeping noises in, too.

I know this simple fact because I married a Tica; a more lovely woman, inside and out, you will never find. And along with her came five (yes, FIVE!) wonderful children, ages 15, 14, 11, 8, and 7 whom I love dearly (in between fighting the urge to tie them up and take the to view the crocodiles at the Tarcoles River bridge.) I know what you’re saying; “What the heck were you thinking!? I’d answer by saying that after two and one-half years together I thought I had pretty good idea of what I was doing. It was only later, after we began sharing the same house, that I realized there was just One Little Thing I had overlooked: I was living with Ticos!

I enjoy silence. After more than twenty years of working around screaming military jet aircraft, another fifteen of being around un-muffled race cars, more than twenty living on a busy city street, plus doing a few stints serving as a bartender in some very loud rock bars, I was ready for some quiet. (Well, relative quiet anyway -- my brain never stops running and there’s always a dialog going on in my head, but it’s usually pretty interesting and it certainly doesn’t qualify as ‘noise.’) And, when I read, or sit here and write, the ideal environment is a peaceful and semi-quiet environment; so I can hear what’s going on in my head.

Well, I can forget that!

Even worse, I had forgotten what it’s like having young kids around the house day-and-night (though I could have never conjured up what a Tico family would be like anyway.)

And I certainly never imagined how noisy it can get INSIDE a cement house: Three TVs, all on different channels and all going at volumes I didn’t even know they were capable of achieving; teenagers talking on the phone or hollering to either each other and / or to their friends passing by on the street; little ones running through the house at like ‘a bunch Continued on page 16...

Not only had I had neglected to recognize I was moving to a noisy country, but also that I was marrying into a Tico family.

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by wearing a T-shirt that says “Silence is Golden – Duct Tape is Silver” has gone over their heads.) So far, however, all my efforts seem to have done is to get me perilously close to being placed in the “Grumpy Old Man” category.

Fortunately, thanks to those years of training and practice from being in loud environments, I have learned ways to cope with a lot of the inside noises -- many years aboard functioning warships taught me the art of being able to ‘turn off’ the sounds. Living on an aircraft carrier a can do that for you -- you either learn it or you don’t sleep.

So, I’ve learned to sleep with the chickens and know I can close the doors and windows to block out the majority of the outside environmental sounds. Now I’m working on reducing the internal noises. If I can muffle some of the indoor sounds just a little more, I think I can retain my sanity and stop longing for those days of relative quiet of an aircraft carrier flight deck.

of wild indians’ at full tilt and full volume (to be honest, I’ve never met any ‘wild indians’ but my mother used to refer to me that way as I passed through some room . . . and she must have known) and / or any one of them teasing the dog to make him bark endlessly.

I have to admit that the situation around the house is improving, though. The kids have learned that the buttons on the TV remote also work to lower the volume. (It was tough concept but I’m slowly getting the message across.)

The dog has learned that barking every time a gecko passes gas isn’t acceptable, and I think I have semi-convinced the littlest ones that too much screaming while running through the house can cause their heads to explode. It’s not perfect, but it’s a start.

And the talk! Even sitting still there is almost a never ending stream of chatter coming from someone. And the ‘polite’ strategy of allowing a one person to finish their statement Yes, it’s improving. But I don’t seem to be making any before another responds just doesn’t play well, at least not progress on those damn motos and quads going by! I’ll in my family. As a result, I’ve learned a new meaning to the probably be stone deaf before that happens. phrase “Trying to get a word in edgewise.”

Sometimes it all rattles me. No, in all honesty, sometimes it drives me NUTS! Luckily, due to all the noise I had subjected myself to over the years, my hearing has suffered some. It isn’t totally gone -- not enough to justify the expense of hearing aids -- I still have the majority of my hearing ability. Only enough is gone so that some sound ranges are muffled a little. I would have never guessed it before, but that now seems like a small blessing. (And oh, how I now sometimes thank the gods for it!) Sometimes I even think near total deafness might be desirable; at least if I had hearing aids I could turn them off.

In the past, if anyone would have suggested that someday I would consider my hearing loss to be an asset, I would have regarded them as being a little crazy. Maybe I should get a set of those “Micky Mouse” sound attenuators shooters wear.

Allen Dickinson is a member of ARCR. After serving 23 years in the US Navy he settled in Pensacola, Florida, where he resided for 24 years. In 2006 he retired from operating his own licensed mortgage brokerage business and relocated to Costa Rica. He holds a Bachelors Degree from the But, since I neither suffer deafness or nor have any attenuators, University of New York and a Masters Degree from the I’m trying to teach my kids the old saw, about how “Silence is University of West Florida. He can be reached via email at: Golden” (my attempt at subtlety communicating the concept humphree@bellsouth.net

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July- August, 2010

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Learning The Languag ge

by Christopher Howard

Legal Terms, Part 1 Whether it be for a document, or a rental or purchase contract, at some point you will likely be faced with some form of legal terms, and most in Costa Rica will be in Spanish.

While it is likely you will obtain the help of an attorney, it is also important that you yourself have at least a simple grasp of some of the legal terms you may encounter.

Absolve Accusation Accused person Accuser Alibi Alimony Appeal Acquit Arrest warrant

Attach assets Bail Case Civil code Civil law

Absolver Denuncia Acusado Denunciante Coartada Pensión alimenticia Apelación Sobreseer encontrar inocente Orden de captura, orden de aprensión, orden de arresto Embargar/enganchar Fianza Caso Código civil Derecho civil

Contract Copyright Due diligence Easement Executor Embezzlement Encumbrance Evidence Eyewitness False witness Fees Felony Fight case Find guilty Find innocent Fine Fraud

Contrato Derechos de autor Diligencia debida Servidumbre Albacea Desfalco Gravamen Evidencia or pruebas Testigo ocular Testigo falso Honorarios Delito mayor Pelear el caso Encontrar culpable Encontrar inocente Multa Fraude

A person who lends his name – Testaferro Appearance in court – Comparecencia Bar (Costa Rican equivalent) – Colegio de Abogados Beyond a reasonable doubt – Más allá de una duda razonable Common property (in a divorce) – Bienes comunes Execution of the verdict – Ejecución de la pena

Here is your Costa Rican expression (tiquismo) for this week: “El que no quiere bultos, no salga a la calle.” – if you don’t want baggage (trouble) don’t leave your house.

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July- August, 2010

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Wild Side

LV VI

by Ryan Piercy

Wacky Worms?!?

Of all the creatures I have researched in Costa Rica, the caecilians are definitely among the strangest. At first glance you would probably think they were a worm. A very large foot-long worm at that. Closer inspection however would reveal a mouth, and even eyes if you looked closely enough.

Now you may think ‘snake’, but still you would still be off burrowing. Recurved teeth will grasp the slippery prey, base. They are in fact a species of amphibians. moving it posteriorly before swallowing. Their unique dual jaw mechanism draws prey inwards with contractions of two The family of Caecilians are almost all a terrestrial burrowing specialized muscles. Little is known about predators of these species, thus are not commonly seen or known. Apparently creatures, but it is thought carnivores are the most probable most naturalists, and indeed many professional biologists suspects. are often unaware of their existence. They can be found around the globe in the tropics however, with about 136 The various caecilians located in the country range in size species in 6 families. Due to their sub terrestrial habits it is from 21 cm up to about 60 cm in length. Most of those in possible more exist.

Costa Rica are viviparous, giving live birth. The small eggs remain in the oviduct until the yolk supply is exhausted, then they obtain their nutrition from rich secretions from the oviduct wall and cells of its lining. They use a special series of teeth for this period of feeding, which are then lost at birth.

A classified, two of the local dermophis species appear to be located in two specific geographic locations, with D. costaricensis found on the Atlantic slopes, and D. gracilior on the pacific slopes. The most differentiated of the lot, Oscaecilia osae, is a Wet Forest variety, and is only known to exist in a small pocket on the Peninsula of Osa in Southwest Costa Rica itself is home to seven species of Caecilians Costa Rica.

(Gmynophiona) throughout the country. These include Oscaecilia osae, Dermophis costaricensis, Dermophis As I said, these are definitely one of the stranger creatures occidentalis, Dermophis glandulosus, Dermophis gracilior, around, and if the possibility presented itself they would Dermophis parviceps, and Gymnopis multiplicata.

In be rather interesting to observe in their habitat. Then if Spanish these creatures are known by several names, ‘solda you cold just find a big enough fishing pole, imagine the con solda’, ‘suelo con suelos’, or ‘dos cabezas’. The first possibilities… three are endemic to Costa Rica only.

The Caecilians are limbless and wormlike amphibians, with elongated bodies. Their eyes are often buried just under the skin, and have groove rings around their bodies. They also do have teeth in their mouth. One of their most distinctive features however is a chemosensory tentacle located on the side of their head, to pick up chemical particles in the environment. It is presumed that this sensor is used to detect the surrounding environment when burrowing as their eyes would be ineffective, and their nostrils are probably closed when underground.

These terrestrial caecilians feed primarily on elongate prey, primarily earthworms probably found as they are

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Dollars & $en nse

Grasshopper ‘banksters’ discovered clever ways of packaging loans into enticing assets for Ant banks. These ‘banksters’ also invented ways to hide massive leveraged debt for themselves as well as for the Grasshopper colonies so that all could ‘keep dancing while the music was playing’.

by Alan Weeks Asian Ants built up piles of American Grasshopper debt and felt rich. However, when a crash came to the American Fables & Fairy Tales colony, the Grasshoppers stopped borrowing and spending; the deficit exploded. But the government didn’t say to MODERN AESOP FABLE itself: “This is dangerous, we must cut back spending”.

In Aesop’s fable there was a Grasshopper and an Ant. The Instead, it said: “We must spend even more, to keep the Grasshopper was lazy; he ate and sang away the summer economy humming”. And, so the deficits and debt grew while the Ant piled up stores for the winter. When winter enormously. came, the Grasshopper begged the Ant for food. The Ant refused and the Grasshopper died.

This made the Asian Ants nervous. So the Chinese leader told America: “We, your creditors, insist you stop borrowing just as European Grasshoppers are now doing.” The leaders of the American colony laughed: “We didn’t ask you to lend us money. We’re going to make sure American Grasshoppers have jobs. If you don’t want to lend us money, raise the value of your currency.

Then, we’ll make what we used to buy and you will no As it happens, Asia is full of Ant colonies. Among them, there longer have to lend to us”. is a rich colony called Japan as well as a huge, but poorer colony called China. These colonies wanted to become rich So the American colony taught their creditors an important by selling goods to Grasshoppers at low prices and build up lesson: “If you owe your bank $100, you have a problem; stores of Grasshopper money. Fortunately, or so it seemed, but if you owe $100+M, it does”. the Asian Ant colonies developed strong trade relationships with the very big, industrious Grasshopper colony called The moral of this fable is: “If you want to accumulate America, which had as its motto: “In Shopping We Trust”. enduring wealth, don’t lend to Grasshoppers”

Martin Wolf (1) provided a more complex modern version of this fable. In it, the Ants are German, Chinese, and Japanese; while the Grasshoppers are Americans, British, Greek, and Spanish. And, in this fable the Ant colonies produce many goods that Grasshoppers want to buy.

The German Ant colony wanted to sell its goods to the Club Med Grasshopper colonies as well as to the new colonies in the east. So a union was formed in which each new Grasshopper colony promised to act frugally, just like the Ant colonies.

A MODERN FAIRY TALE (2) The “Tooth Fairy” was born in January 1946 and has been the fairy idol of 400 million children living largely in North America and Western Europe, known collectively as ‘the Baby Boomers’.

As the Ant colonies started producing more and more enticing goods the Grasshoppers wanted to buy, the Grasshoppers colonies wanted to repay in kind but the Ant colonies replied: “No, you don’t have anything we want, except maybe a spot by the sea. But, we will lend you the money. That way, you enjoy our goods and we accumulate stores [of wealth]”.

The parents of ‘Boomers’ were rightfully called the “Greatest Generation”, and they earned that title by making enormous sacrifices and investments to build up a world of abundance.

The ‘Baby Boomers’ were raised to believe there really was a “Tooth Fairy”, whose magic would allow conservatives to cut taxes without cutting services and liberals to expand services without raising taxes. The “Tooth Fairy” did it by printing money; by bogus accounting; and by deluding the ‘Boomers’ into thinking they were creating wealth by borrowing from foreigners; or against their rising home values; or by creating exotic financial instruments to trade with each other.

Being frugal and cautious, the Ants deposited their surplus earnings in supposedly safe banks, which re-lent to the Grasshoppers. The latter, of course, no longer needed to make goods, since Ants supplied them so cheaply. But Ants did not sell them houses, shopping malls or offices. So the Grasshoppers made these instead, and even asked Ants to come and do the work. Grasshoppers soon found that, with all the money flowing in, they could borrow more, build more, The ‘Baby Boomers’ turned out to be what one writer called and spend more. Land prices soared. the “Grasshopper Generation”, because they’ve eaten through all that abundance like hungry locusts.

The Ants looked at the prosperity of the Grasshopper colonies and told their bankers: “Lend even more to Grasshoppers, We believe the “Tooth Fairy” in the UK and Europe died in May since we Ants don’t want to borrow.” of complications related to obesity. “We’ll certainly miss the In order ‘to keep the good times rolling’, American

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Tooth Fairy”, some said following her death, which coincided Continued on page 23...

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with the 2010 British elections and rioting in Greece.

and delusion.

GOOD NEWS FOR OUR GRANDCHILDREN The most striking thing about the British election was that it was the first Western national election “based on pain”.

All the leading candidates warned voters “cuts are coming”, but none were even close to honest about how deep. The most effective British Conservative’s campaign ad was a poster showing a newborn baby under the headline: “Dad’s eyes, Mum’s nose, Gordon Brown’s debt”. Beneath was the caption: “Labour’s debt crisis: Every child in Britain is born owing £17,000 [over $25,000]. They deserve better”.

In addition, some Americans are still expecting the ever inviting ‘hand’ of government to be there to offer food stamps and stimulus in bi-weekly cheques.

Sitting in America, the ‘Boomers’ may find it hard to grasp the importance of the British elections, and the Greek riots.

Nothing to do with us, right? Wrong! We need to pay attention to the dramas playing out over there as it may be coming to a ‘theater’ near us.

However, the problem is, the U.S. has eaten through its reserves and the “lords of discipline”, the bond traders, are coming back with a vengeance. Therefore, after 65 years in which Western politics was mostly about giving things away to voters, it should in future be mostly about taking things away.

Goodbye “Tooth Fairy” politics; hello “Root Canal” politics!

BUMPER TO BUMPER The CEO of PIMCO (4), a veteran global investor, has lived through many a financial crisis. He recently described the new, perilous state of today’s global economy, this way: After all, if Americans realized the total value of all their “The world is on a journey to an unstable destination, liabilities, including the unfunded future entitlements, they through unfamiliar territory, on an uneven road and, might easily be able to claim to be passing on to every child critically, having already used its spare tire”. born in America, a much larger sum than the Brits, as a ‘gift’ from the “Grasshopper Generation”.

I agree with Thomas Friedman (4) this is a good portrayal.

America used its “spare tire” to prevent the collapse of the The good news is that there should be little worry that all our banking system and to stimulate the economy after the debt will be passed on that far. The bad news is we should subprime loan crash. The European Union used its “spare take this extreme debt issue very seriously as the ‘Boomer’ tire” on its own economic stimulus and then, to prevent a generation will have to deal with the consequences. This is run on the European banks triggered by the meltdown in because the massive government responses have created Greece. sufficient financial distress to bring about crisis much sooner.

Now that so many countries will have to bring down their deficits to stabilize their country, it could destabilize their The fact is that the latest developments are strong signals social fabric, as the Greek riots have been showing. It’s very that the global credit crisis is only beginning. As Roger hard to see a good ending.

Altman (3) stated recently: “The really serious crises of the last 150 years tended to be long and drawn out, and had Furthermore, some of Wall Street’s biggest names say they several stages, including a sovereign debt stage”. “This are worried about the debt crisis in Europe, where all of a global financial crisis is not over, and it’s not close to sudden the entire continent is deeply involved. The deep being over”. “There are probably other large shoes that concern is how this might be ‘contagious’ and spread to other countries already in a fragile position. can drop beyond Europe”.

Some of us believe our global monetary system itself is also in crisis. The causes and potential solutions are far beyond the scope of this article, but here is something to ponder. Events now unfolding appear to be starting to shake the global monetary system. In grappling with the myth that paper currencies can be effectively managed, an observation made many years ago by John F. Kennedy about myths seems appropriate. “The great enemy of truth is often not the lie - deliberate, contrived, and dishonest – but the myth - persistent, persuasive and unrealistic”.

In the past, government was applauded every time it interfered with market dynamics to jolt demand. This created undesired and increasingly larger peaks and valleys in investment and consumption. Even now, many Americans expect the government will always be there to backstop nonfunctioning markets brought about by excessive risk-taking

July- August, 2010

As one example, it seems that China is also falling victim to Greek deficit contagion. China had been under growing pressure from Asia, Europe, and the U.S. to revalue its currency. The Greek crisis may have changed that. The 15% slide in the Euro’s value against the Yuan over the past 6 months has eroded China’s competitiveness in the market of its largest trading partner: the European Union. More importantly, many trade-deficit countries in Europe, such as Greece, Spain and Portugal, are having difficulty financing themselves and thus, for many years to come, they will be much less able to purchase goods from China.

China is also starting to experience a major domestic problem that should further erode the competitiveness of its exports. As one Chinese professor put it: “Our country is in a race to the bottom because our only advantage Continued on page 24...

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is cheap labour, and thus our development is built on a mountain of sweatshops”. Now, because the cost of living has escalated, many younger Chinese workers have been reacting strongly to the pressures and are starting to get good wage increases, which will reduce China’s labor cost advantage.

GLOBAL SOVEREIGN DEBT CRISIS As a result of government bailouts and stimulus spending in response to the global financial crisis, gross government debts around the world have risen to unprecedented heights and are expected to continue in the future as recovery remains anaemic in many regions around the world.

Therefore, it should be expected that all economies which trap themselves by excessive debt, will succumb to a fate similar to Japan’s, and suffer anaemic growth for decades to come. The fact is that through globalization, nations have become more tightly integrated than ever before. Thus, we’re driving “bumper to bumper’ with every other major economy today.

debt crisis, particularly if governments borrow from foreigners. Of course, when it becomes too expensive to borrow, governments invariably promise to mend their ways. However, it is often too late”.

“The next stage is to demand that their Central Bank buy their bonds, which starts a run on the currency.

Then, as governments get more desperate, they look for ways to force institutions to hold their bonds and financial repression begins as Banks are forced to hold government bonds for LIQUIDITY; Pension funds are forced to hold the bonds for SAFETY; and interest rates ceilings are imposed on private lending TO PREVENT USURY. And, when all else fails, exchange controls are imposed to ensure nobody can easily escape from such regulations”.

In this kind of world, good leadership at every level of government and business matters more than ever. With very little margin for error, this is no time for politics as usual and no time for citizen complacency.

Capital Controls legislation was signed into U.S. Law on March 16th of this year. On page 27 of the HIRE ACT was a section known as Offset Provisions, subtitled: A Foreign Account Tax Compliance. It is understood that this requires banks to withhold 30% of all outgoing capital flows over $50,000 and for full disclosure by foreign banks of nonexempt account holders. Foreign banks that by law are prevented from disclosing account holder information are required to return the money.

We need “leadership” today so that innovative actions can be taken that will generate new capabilities and resources, and being smart and disciplined about every dollar spent and invested.

Is this not likely to encourage other governments to follow suit in order to keep money ‘trapped’ in their own countries?

And if so, could this be the beginning of the disintegration of financial globalization?

As unlikely as this may seem, it had better work out because we’re now living in a world with no more “spares”.

In this economic climate, many Americans probably understand that, at some intuitive level, they need to be smarter, more frugal, and make tougher choices in their private lives. And, more Americans are realizing they can no longer fake it or fool themselves, so they have much less tolerance for politicians who continue to do so.

The real question remains: When will leaders around the world realize that it is not possible to get out of a debt crisis by increasing debt?

THE PERIL OF FINANCIAL REPRESSION As Carmen Reinhart (5), co-author of THIS TIME IS DIFFERENT, a masterly study of financial crises through the ages, stated: “First comes financial crisis; then comes sovereign crisis; then comes financial repression”.

Her argument is very plausible and it is supported by the history of both advanced and emerging countries. “First, governments encourage credit expansion by the financial sector. As a result, a mountain of bad debt is piled up. Then, at some point, comes panic. At this stage, governments nationalize the liabilities of their financial sector and, more importantly find their revenues are collapsing, along with the economy. Huge financial deficits then emerge and public debts start to soar”. [Does that not sound familiar?]

“Moreover, many governments made matters worse by running huge and unsustainable deficits in good times. Regardless of the reasons, an unsustainable fiscal position, sooner or later, leads to a sovereign

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As one experienced political columnist recently noted: “The important message buried in all the recent election returns is that voters are tired of being toyed with”.

Hopefully, a new breed of politicians, supported by savvy pundits, will emerge in the U.S. to satisfy the stirrings among voters of both parties for authentic actions that it will take to fix the nation.

The prospect that this columnist could be right, is based on a profound statement expressed a long time ago by Winston Churchill when he famously observed that: “You can always trust the Americans. In the end, they will do the right thing, after they have eliminated all the other possibilities”. We will find out whether that is still true for the “Grasshopper Generation”.

Please note that the opinions expressed in this article are solely those of the writer. For more information and reference details please contact Alan Weeks At (507) 290-3136 or by E-mail: imccr2002@yahoo.com

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Autopista Prรณspero Fernรกndez, kilometer #4, Stewart Title Building, Third Floor 506 2505 3000 customerservice@stewartcr.com www.stewartlat.com

July- August, 2010 !& X .UEVO%DIFICIO INDD

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0-

Exchange rate of the Costa Rican ¢ to the US Dollar December 571.81 January

565.11

February

558.45

March

528.78

April

516.04

May

545.72

Basic Interest Rate December 8.25 % January

8.00 %

February

8.00 %

March

8.00 %

April

7.75 %

May

8.50 %

Exchange rate of other currencies to the US Dollar Japanese Yen 91.420 Swiss Franc

1.1548

Canadian $

1.0430

Giro (DEG)

1.4743

ÂŁ Sterling

1.4527

Euro

1.2318

Mexican Peso

12.884

Korean Won

1,202.2

Danish Krone Norwegian Krone Argentine Peso

6.0393 6.4409 3.9122

Colombian Peso 1,972.2 Brasilian Real

1.8060

Libor Rate 1 month 0.3513 % 3 month

0.5363 %

6 month

0.7519 %

12 month

1.2040 %

Prime Rate

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3.25 %

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Holidays of Costa Rica July 25th- ARCR closed 26th ‘Guanacaste Day’ August 2nd‘Virgin of the Angels’ August 15thARCR closed 16th ‘Mother’s Day’ ******************** A Touch of Wisdom “Anyone who will gossip to you, will gossip about you.” unknown “Better slip with foot than tongue.”

Ben Franklin (1706-1790) “‘Don’t go looking for trouble.”

Aesop (620-560 BC) ******************** A quick smile...

A person who speaks two languages is bilingual...A person who speaks three languages is trilingual...A person who speaks four or more languages is multilingual.

What is a person who speaks one language?

An American.

A man receives a phone call from his doctor.

The doctor says, “I have some good news and some bad news.”

The man says, “OK, give me the good news first.”

The doctor says, “The good news is, you have 24 hours to live.”

The man replies, “Oh no! If that’s the good news, then what’s the bad news?”

The doctor says, “The bad news is, I forgot to call you yesterday.”

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