Paul Volcker and the Vatican, on the same page

Center of Concern | Tue, Oct 25, 2011

Paul Volcker and the Vatican, on the same page

Washington DC October 25 - The distinction between ordinary credit and investment banking would allow “a more effective management of the 'shadow markets' which have no controls and limits,” according to a document released today by the Pontifical Office of Justice and Peace, an arm of the Holy See. This is one of a number of issues that the document considers should be part of bringing economy and finance back within the boundaries of their obvious responsibilities at the service of society ... Read the full press release.

Uphold Human Rights in Finance, organizations tell the G20

Rethinking Bretton Woods | Tue, Oct 25, 2011

Uphold Human Rights in Finance, organizations tell the G20

More than 190 organizations from over 53 countries demanded that the Group of 20 countries, meeting in Cannes on November 3-4, uphold their human rights responsibilities in financial decision-making. The statement calls for:

  • Endorsement of worldwide stimuli measures according to human rights principles;
  • Reforms to prevent speculative activity in financial markets from undermining the enjoyment of human rights;
  • Action to limit the damage to public funding of financial institutions that collapse due to excessive risk-taking
  • Regulations of bank capital requirements consistent with human rights standards;
  • Agreement to increase the relative fiscal pressure on the banking sector and to cooperate to increase transparency and mutual accountability in revenue mobilization;
  • An agreement to drastically reduce greenhouse emissions which contribute to climate change.

Read full statement.

Center of Concern | Fri, Oct 21, 2011

Strong Vatican Document on Financial Reform

In an article released October 21st, Tom Reese, S.J. of the Woodstock Theological Center alerts us to a new Vatican call for global financial reform that will be published October 24th.  Calling it "radical," he outlines some of the positions the document will underline.  A similar story appeared in CNS online.  This development supports the important work done by Aldo Caliari and his colleagues through the Center's Rethinking Bretton Woods Project.

Center of Concern | Thu, Oct 20, 2011

Occupy Wall Street and Catholic Social Teaching


Fr. Patrick Howell SJ, professor of pastoral theology at Seattle University, attempts to connect the Occupy Wall Street Movement, Steve Jobs, and Catholic Social Teaching in his recent op-ed piece in the Seattle Times. 


“In its simplest terms, the message of the protesters is that the top 1 percent — corporate executives, the rich elite — are gobbling up the resources, leaving the crumbs for the remaining 99 percent. It's a prophetic critique of individualistic greed and a call to attend to the common good, especially to the weakest and most vulnerable among us.”


Book: The Global Financial Crisis and Trade: Lessons Learned for an Integrated Response (October 2011)

Rethinking Bretton Woods | Mon, Oct 10, 2011

Book: The Global Financial Crisis and Trade: Lessons Learned for an Integrated Response (October 2011)

The Center of Concern has published a new book: “The Global Financial Crisis and Trade Lessons Learned for an Integrated Response.” The book reports on a series of regional consultation workshops with developing country governments that it held in 2009-2010 on the theme that gives title to the volume.

UN and World Bank's Goal to End Poverty

Published on Jul 15, 2013 Courtesy of the World Bank

The UN's Deputy Secretary-General says ending extreme poverty is needed to have healthy societies.More than 1 billion people around the globe currently live on less than $2 a day. The World Bank wants to reduce the number of people living in destitution to less than 3% of the population by 2030. The UN's Jan Eliasson says dealing with such inequalities is necessary and more than just a matter of morals.

Education for Justice | Mon, Sep 19, 2011

Solidarity Across the Globe

Solidarity is embodied wherever people overcome barriers that prevent us from seeing one another as fully human and deserving of respect. Protestants and Catholics across India celebrated Dalit Liberation last week. The annual event, which is held on the Sunday closest to International Human Rights Day, called on all Indians to work to end the caste mentality. Dalits continue to face outright discrimination and social and economic marginalization.