Tag Archives: Vatican

The Vatican’s imperial economic plan is naive

THE Vatican waded into the debate over the financial crisis this week, when the Pontifical Council for Justice and Peace released a paper titled Toward Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority. Despite some interesting analysis, as Robert Sirico of the Acton Institute has pointed out, on the problems caused by fiat currencies, the papacy’s note shows a curious enthusiasm for the idea of a global financial body to keep past excesses in check. At times, it is a vision of such naive optimism as to be almost heartbreaking. Who, in the midst of the ineffectual, self-serving, horse-trading muddle of the Eurozone’s political wrangling, can hear without incredulity the announcement that “the Authority shall have the specific purpose of the common good, and will have to work and not be structured as an additional lever of power of the powerful over the weak.” Continue reading

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