Category: Financial Crisis

For a problem that is not exclusively financial, there needs to be a solution that is not exclusively financial, a Vatican representative recalled. Bishop Giampaolo Crepaldi, secretary of the Pontifical Council for Justice and Peace, underlined this on Vatican Radio when he discussed the ongoing worldwide economic crisis. “The crisis that the world is currently living is not just financial and, therefore, the solution cannot be purely financial,” he said. Instead, the economic crisis “verifies what the Church’s social doctrine has said for a long time: When an economic-financial system goes into crisis, it is never due to economic or financial motives, but because, in its origin, there has been a wound in the global moral system.”