The global financial crisis and the worldwide recession it triggered have demonstrated that allowing financial markets to regulate themselves does not serve national interests nor the good of the international community, according to Archbishop Silvano Tomasi, the Vatican’s permanent observer to U.N. agencies based in Geneva. Speaking on April 22 during a U.N. Conference in Doha, Qatar, Archbishop Tomasi said the 2008 financial crisis “marked a turning point for the world economy.” The subsequent global economic recession, he said, “eliminated at least 30 million jobs around the world.” As a result, “the enjoyment of fundamental economic and social rights by countless persons has been compromised, including the right to food, water, decent work, education and health.” He added, “The international community cannot let the financial system continue being a source of global economic instability; it must urgently take measures to prevent the outbreak of other financial crises in the future.”
Market Mayhem
Show Comments (
)
Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
The latest from america
In this homily for the Solemnity of the Most Holy Body and Blood of Christ (Corpus Christi), Year C, the Rev. Hank Hilton draws on ancient philosophy, childhood boat rides on the Jersey Shore and his mother’s steady wisdom to reflect on the transformative power of Christ’s kindness.
My primary problem with the parade wasn’t just that it broke a norm. My problem is that it reminded me how easily we tell ourselves comforting stories instead of asking hard questions.
The USCCB wrote a letter to Congress on May 20 mildly refuting certain aspects of Trump's Big Beautiful Bill.
Two new books give a multi-hued portrait of Seamus Heaney as he pursued a late-20th-century vocation as a public advocate of poetry and as a somewhat private advocate of Catholicism as a folk culture.