June 22, 2012. (Romereports.com) When it comes to the financial crisis, how can banks be part of the solution and not the problem?

The President of the Holy See's Financial Information Authority,  Cardinal Attilio Nicora, says the answer lies in ethics.


He started off the discussion along with representatives from major Italian banks, where the main topic was how to combine business with ethics, morality and transparency.

FRANCESCO DE PASQUALE
Director, Holy See's Financial Information Authority
“The rules and standards of banks are not static. They are dynamic and they can have a spiritual dimension.”

In light of the economic crisis, references were made to Benedict XVI's encyclical 'Caritas in Veritate.' In it, the Pope calls for ethical standards in the financial sector, so as to not betray investors in the process. Here speakers talked about how to actually put these ideas in motion.


The forum was organized by 'Gli Eventi di Elea,' which translates to 'Events of Elea.' For years now, it has brought together high ranking people to discuss how the teachings of Benedict XVI can apply to international economics and politics.


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