Vatican to call for global financial authority

 “The global financial crisis showed the fragility of the current economic system and of the institutions associated with it,” the pope said in April…… He said the crisis had also demonstrated “the mistake of continuing to think that the market is able to regulate itself without public intervention.”These statements place the church squarely against the neo-liberalist policies of the World Bank, the IMF, the JBIC, the ADB and other international financial institutions which pushed free trade, globalization, and non government intervention in capitalist markets from the mid seventies up to the present.  These neo-liberalist  policies are now being blamed for the present financial woes of developed and developing countries causing widespread unemployment, income inequality, endemic poverty and even ecological destruction.   The Church’s entry into the economic ideological debate might be controversial to some people but it might be worth listening to in the face of brewing global economic turmoil with no alternative cohesive ideology and accompanying proposals which can be applied globally. It used to be that the Church’s target was communism and now it is directing its sights on unbridled capitalism.    

If they’re really worried about the poor, why don’t they sell all their belongings and give the money from it to the poor, instead of wallowing in all that wealth? Oh, and to give Ceasar whatever’s due to him.

If they’re really worried about the poor, why don’t they sell all their belongings and give the money from it to the poor, instead of wallowing in all that wealth? Oh, and to give Ceasar whatever’s due to him.

Why do i get the inkling feeling the church wants a large piece of that capitalistic pie.

I think the church should stay out with this issue.  Jesus turned down the devil’s offer during his 40-day temptation and so should the current pope.  But it looks like he wants to be tempted. 

The Vatican on Wednesday said it was preparing a series of proposals for reforming the global financial system that would include the creation of a “public authority with universal competence.”
WHO? The Catholic Church?

The Vatican on Wednesday said it was preparing a series of proposals for reforming the global financial system that would include the creation of a “public authority with universal competence.”
WHO? The Catholic church?

I’m willing to give the benefit of the doubt and listen to what they propose first.

very very bad idea.
—–churches are withdrawing their funds from transnational banks[the Occupy Wall Street Movement is being supported by community churches thru this act] i hope the Filipino catholic church will go against this obvious one-world govt[financial institution] setup. then again, if only we all know who is the custodian of all the wealth of the Catholic Church is :)

“The Peace and Justice Crowd” [Soros' Tide Foundation et al.] at the USCCB is what has ruined American Catholic churches, so I have extreme doubts about the Vatican’s Pontifical Council for Justice and Peace.  Any one world authority over all will be a death and slavery system for all.  Let there be sovereign nation states and no privately owned national banks.

Under the current controversies and the failure of the current economic order, some new ideas should always be welcome to help all those concerned in untying or solving the Gordian Knot.  What the Vatican would be doing, from the reports, is propose some solutions including a proposal, maybe antithecal to the current practice, that has not proven so effective to bail us out of the global financial crisis and has not indicated a working way out of international debts more systematically and effectively.  This could be the whiff of fresh air we need, and irregardless of deep seated biases, why don’t we give the Vatican a fair hearing?  It won’t cost us a thing!  Who knows, creative solutions might come as a result for the good of everybody.  Only openness to change, to new ideas, no matter from which sector they come from, could somehow invite us to adopt novel ways to tackle a knotty problem.  Truth can come out even from the mouth of babes.