Vatican Calls for more centralized corruption, 'Central World Bank' to Be Set Up

The Vatican has a poor track record for ethical banking practices.

Middle Ages here we come. Maybe we can have two Popes for a while.

Euro Zone: Vatican Calls for 'Central World Bank' to Be Set Up - CNBC

The Vatican called on Monday for the establishment of a "global public authority" and a "central world bank" to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.

It condemned what it called "the idolatry of the market" as well as a "neo-liberal thinking" that it said looked exclusively at technical solutions to economic problems.

..."In fact, the crisis has revealed behaviors like selfishness, collective greed and hoarding of goods on a great scale," it said, adding that world economics needed an "ethic of solidarity" among rich and poor nations. [That is funny coming from the Pope.]

..."Of course, this transformation will be made at the cost of a gradual, balanced transfer of a part of each nation's powers to a world authority and to regional authorities, but this is necessary at a time when the dynamism of human society and the economy and the progress of technology are transcending borders, which are in fact already very eroded in a globalizes world."

...