THE VATICAN made a series of radical demands for global financial control yesterday, attacking “economic liberalism that spurns rules and controls”.
The Catholic authority condemned what it called “the idolatry of the market” as well as a “neo-liberal thinking” that it said looked exclusively at technical solutions to economic problems.
And it called for the establishment of “a supranational authority” with worldwide scope to impose economic policies. “One can see an emerging requirement for a body that will carry out the functions of a kind of ‘central world bank’ that regulates the flow and system of monetary exchanges,” the Vatican said, in an 18-page document.
Cardinal Peter Turkson preached: “The people on Wall Street need to sit down and go through a process of discernment and see whether their role managing the finances of the world is actually serving the interests of humanity and the common good.”