November 3, 2011. (Romereports.com)
When the Vatican's Pontifical Council for Justice and Peace, released a document on ways to improve the world's financial crisis, the report got mixed reviews. One of its supporters is the head of the Anglican Church, Dr. Rowan Williams. Through a statement recently published in the Financial Times, Williams says the document makes valid points that shouldn't be disregarded.
Among them, he supports the proposal of having a so called 'Financial Transaction Tax,' which is also being called a 'Robin Hood Tax.' This would include a .05 percent tax on share, bond and currency transactions. That money, according to the document, could then be invested back into the real economy, both domestically and internationally. The tax itself could generate billions of dollars in return.
In fact, the idea is also openly supported by Bill Gates, who is expected to talk about this proposal in the coming G20 meeting in France.
In his statement, Williams also supports the document's proposal that banks should be obligated, by law, to help reinvigorate the economy, especially when public money was used to keep them afloat.
The Vatican's document also talks about keeping banking business separate from speculative transactions in the stock market. This too, Williams showed support for.
He says these types of ideas, as well as the world wide protests, “do not amount to a simplistic call for the end of capitalism, but they are far more than a general expression of discontent.”