The Vatican has prepared a document on reform of the global financial system and the potential role of a public regulatory authority, reports the Catholic News Service.
The Vatican said the document, to be released by the Pontifical Council for Justice and Peace on October 24, would address "reform of the international financial system with a view toward a general public authority."
The wording refers to a section of the 1963 encyclical "Peace on Earth" ("Pacem in Terris"), which stated:
"Today the universal common good presents us with problems which are worldwide in their dimensions; problems, therefore, which cannot be solved except by a public authority with power, organization and means co-extensive with these problems, and with a worldwide sphere of activity."
Vatican to issue document on global financial reform (Catholic News Service)
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