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Vatican World Financial Reform Document Oct 24 2011

Vatican World Financial Reform Document Oct 24 2011

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Vatican's call for World Financial Reform issued Oct 24, 2011
Vatican's call for World Financial Reform issued Oct 24, 2011

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Published by: David on Oct 26, 2011
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11/03/2011

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Full Text: Note on financial reform from the Pontifical Council for Justice and PeacePlease find, below, an unofficial translation of the Note on the reform of the international financial andmonetary systems in the context of global public authority, released Monday by the Pontifical Councilfor Justice and Peace.******************Pontifical Council for Justice and PeaceTOWARDS REFORMINGTHE INTERNATIONAL FINANCIAL AND MONETARY SYSTEMSIN THE CONTEXT OF GLOBAL PUBLIC AUTHORITYVatican City2011Table of ContentsPreface
 
 PresuppositionEconomic Development and InequalitiesThe Role of Technology and the Ethical ChallengeAn Authority over GlobalizationTowards Reforming the International Financial and Monetary Systems in a way that Responds to theNeeds of all PeoplesConclusionsPreface
 
 
“The world situation requires the concerted effort of everyone, a thorough examination of every facet of 
the problem
 –
social, economic, cultural and spiritual. The Church, which has long experience in humanaffairs and has no desire to be involved in the
political activities of any nation, ‘seeks but one goal: to
carry forward the work of Christ under the lead of the befriending Spirit. And Christ entered this world
to give witness to the truth; to save, not to judge; to serve, not to be served.’”
 With these words, in the prophetic and always relevant Encyclical Populorum Progressio of 1967, Paul VI
outlined in a clear way “the trajectories” of the Church’s close relation with the world. These trajectories
intersect in the profound value of human dignity and the quest for the common good, which makepeople responsible and free to act according to their highest aspirations.The economic and financial crisis which the world is going through calls everyone, individuals andpeoples, to examine in depth the principles and the cultural and moral values at the basis of socialcoexistence. What is more, the crisis engages private actors and competent public authorities on thenational, regional and international level in serious reflection on both causes and solutions of a political,economic and technical nature.
In this perspective, as Benedict XVI teaches, the crisis “obliges us to re
-plan our journey, to set ourselvesnew rules and to discover new forms of commitment, to build on positive experiences and to rejectnegative ones. The crisis thus becomes an opportunity for discernment, in which to shape a new visionfor the future. In this spirit, with confidence rather than resignation, it is appropriate to address the
difficulties of the present time.”
 The G20
leaders themselves said in the Statement they adopted in Pittsburgh in 2009: “The economic
crisis demonstrates the importance of ushering in a new era of sustainable global economic activity
grounded in responsibility.”
 
The Pontifical Council for Justice and Peace now responds to the Holy Father’s appeal, while making the
concerns of everyone our own, especially the concerns of those who pay most dearly for the currentsituation. With due respect for the competent civil and political authorities, the Council hereby offersand shares its reflection: Towards reforming the international financial and monetary systems in thecontext of global public authority.

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