News from Britain and Ireland

Turkson renews call for overhaul of finance systems

13 February 2014 | by Abigail Frymann Rouch | Comments: 0

The leader of the Vatican’s social justice office has revived his call for a global regulatory body of the world’s financial systems, despite the Holy See having distanced itself from the idea.In a lecture at the London School of Economics last week, Cardinal Peter Turkson, the president of the Pontifical Council of Justice and Peace, quoted a document that his office issued in 2011, which called for “[the] creation of a world public authority at the service of the common good”. The document – which also called for a tax on financial transactions, the recapitalisation of banks with public funds, and clear definition between investment and high-street banks – received a mixed reception within the Vatican when it was released. Fr Federico Lombardi, the Ho ....... ....... ........ ........ ........ ........ ........ ........ ........ ........ ........

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