TOWARDS REFORMING
THE INTERNATIONAL FINANCIAL AND MONETARY SYSTEMS
IN THE CONTEXT OF GLOBAL PUBLIC AUTHORITY

Preface

“The world situation requires the concerted effort of everyone, a thorough examination of every facet of the problem – social, economic, cultural and spiritual. The Church, which has long experience in human affairs and has no desire to be involved in the political activities of any nation, ‘seeks but one goal: to carry forward the work of Christ under the lead of the befriending Spirit. And Christ entered this world to give witness to the truth; to save, not to judge; to serve, not to be served’”(1).

With these words, in the prophetic and always relevant Encyclical Populorum Progressio of 1967, Pope Paul VI outlined in a clear way “the trajectories” of the Church’s close relation with the world. These trajectories or perspectives intersect with the perspectives of others outside the Church in the profound value of human dignity and the quest for the common good, which make people responsible and free to act according to their highest aspirations.

The economic and financial crisis which the world is going through summons everyone, as individuals and peoples, to examine in depth the principles and the cultural and moral values that underlie social coexistence. What is more, the crisis engages private actors and competent public authorities on the national, regional and international level in serious reflection on causes and on solutions of a political, economic and technical nature.

In this perspective, as Pope Benedict XVI teaches, the crisis “obliges us to re-plan our journey, to set ourselves new rules and to discover new forms of commitment, to build on positive experiences and to reject negative ones. The crisis thus becomes an opportunity for discernment, in which to shape a new vision for the future. In this spirit, with confidence rather than resignation, it is appropriate to address the difficulties of the present time”(2).

The G20 leaders themselves said in the Statement they adopted in Pittsburgh in 2009: “The economic crisis demonstrates the importance of ushering in a new era of sustainable global economic activity grounded in responsibility” (3).

The Pontifical Council for Justice and Peace now responds to the Holy Father’s appeal, while making the concerns of everyone our own, especially the concerns of those who pay most dearly for the current situation. With due respect for the competent civil and political authorities, the Council hereby offers and shares its reflection: Towards reforming the international financial and monetary systems in the context of global public authority.

We hope that world leaders and all people of good will find this reflection helpful. It is an exercise of responsibility not only towards the current but above all towards future generations, so that hope for a better future and confidence in human dignity and capacity for good may never be extinguished.

Peter K. A. Cardinal Turkson
President

More:
http://www.vatican.va/roman_curia/pontifical_councils/justpeace/documents/rc_pc_justpeace_doc_20111024_nota_en.html

---

IZAKOVIC