“The Vatican called on Monday for sweeping reforms of the world economy and the creation of an ethical, global authority to regulate financial markets,” in something like a global world bank.
The Vatican came out with its statement as demonstrators protest against corporate greed all around the globe. Demonstrators are “angry about government bailouts of big banks, corporate bonuses and economic inequality.” The demonstrations are supported by many trade unions.
Calling for an ethical authority actually suggests that the Vatican wants to be that ethical authority, or at least involved in it. The Vatican views itself as the moral (ethical) guide of the world.
The 18-page statement condemned “selfishness, collective greed and hoarding of goods on a great scale,” and the “idolatry of the market,” adding that world economics needed an “ethic of solidarity” among rich and poor nations.” The Vatican also urged corporate leaders and others to think deeply about the impact of their decisions on societies, and to seek ways to support the “moral values at the basis of social coexistence,” and the common good.
Support for the common good is a common theme of Vatican social policy, particularly as it calls for wealth redistribution and equalization of rich and poor nations.
The Vatican said that new ideas should be proposed, even if they undermine the existing order of things. The Vatican is using the demonstrations as opportunity to promote its own brand of socialism. The demonstrators are likely to welcome the statement.
“The Vatican called for the establishment of ‘a supranational authority’ with worldwide scope and ‘universal jurisdiction’ to guide economic policies and decisions.” The document also called for a tax of financial transactions.
The Vatican even criticized the International Monetary Fund (IMF), saying that it “no longer had the power or ability to stabilize world finance by regulating overall money supply and it was no longer able to watch ‘over the amount of credit risk taken on by the system.’”
The Vatican continues to seek globalization of world politics and the universal economy. Eventually, as the scripture says, she will call for a global religion around her principles.
“And all that dwell upon the earth shall worship him, whose names are not written in the book of life, of the lamb slain from the foundation of the world.” Revelation 13:8
Source: Vatican calls for global authority on economy
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