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Oct 25, 2011 13:07
Category: Religious News

Vatican calls for reform of world's financial system

  VATICAN CITY (AP) - The Vatican is calling for radical reform of
the world's financial system, including the creation of a global
political authority to manage the economy.
     The aim is for a new world economic order based on ethics and
the search for the common good.
     The proposal by the Vatican's Pontifical Council for Justice and
Peace, released Monday, follows up on Pope Benedict's 2009 economic
encyclical that blamed a profit-at-all-cost mentality for the
global financial meltdown.
     It calls for financial and monetary policies that will fairly
distribute the world's wealth and won't damage the weakest
economies.