Skip to comments.Germany's Merkel visits Pope, urges tougher market controls
Posted on 05/19/2013 9:24:35 PM PDT by haffast
(Reuters) - German Chancellor Angela Merkel met Pope Francis on Saturday and, apparently responding to his criticism of a heartless "dictatorship of the economy", called for stronger regulation of financial markets.
On Thursday, Francis appealed in a speech for world financial reform, saying the global economic crisis had made life worse for millions in rich and poor countries.
Merkel visited Rome for a few hours specifically to meet the pontiff and spoke with him privately in his library for 45 minutes, unusually long for a private papal audience.
She told reporters afterwards that the scandals and excesses criticized by Francis earlier in the week showed that vital checks and balances had not been functioning properly.
Crises have blown up because the rules of the social market have not been observed," she said, adding that tightening financial market regulation would be a main objective of the meeting of leaders of Group of 20 economic powers in September.
"We have made progress but we are nowhere near a point where we could say that the kind of derailment that leads to market crises could not happen again and so the issue will again play a central role at the G20 meeting this year," she said.
"It is true that economies are there to serve people and that has by no means always been the case in recent years."
Merkel, the daughter of a Lutheran minister, said she and Francis had spoken mainly about globalization, the European Union and the role of Europe in the world.
"Pope Francis made it clear that we need a strong, fair Europe and I found the message very encouraging," said Merkel, head of the Christian Democratic Union, which has a strong Catholic component.
(Excerpt) Read more at reuters.com ...
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Angela Merkel will never be confused with Margaret Thatcher. She is severely hurting Germany by squandering capital with fruitless foreign bailouts and ridiculous green energy schemes which include abandoning nuclear energy.
Angela is another imbecile playacting the part of a great nation’s leader.
The Holy Father is NOT interested in delving into the world’s sorrowful state of financial affairs as screwed up the socialists who run the EU.
Angela: you’re no Margaret Thatcher, you’re not even an Adenauer. You’re even worse than that other communist, Willy Brandt.