The Holy See Called for the Creation of a World Central Bank and a World Government
October 24, 2011. Even the Vatican has become concerned about the unfolding global economic crisis. The Holy See called for reform of the world financial system and the creation of a world central bank, because national institutions cannot cope with the crisis.
The world central bank should regulate not only financial flows and the currency exchange system but also national central banks, proposes the Roman Catholic Church. It is also necessary to create supranational political institutions that would ensure the coherence of economic policy.
It is worth noting that for about two and a half months, the well-known financier and billionaire George Soros has been calling on the eurozone to establish a single ministry of finance and a unified tax policy, without which, in his view, the single currency area simply cannot survive.
He also called for the creation of euro-wide debt bonds, which he sees as a necessary step to solving the eurozone’s debt problems. However, Angela Merkel and Nicolas Sarkozy—the heads of the eurozone’s largest economies—are categorically against this option, as the entire debt burden of the monetary union would fall on them, reports km.ru
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