Vatican Bank President Calls for Reindustrialization of US, Europe

Catholic Culture ^ | 2/27/12

[marshmallow]

Amid austerity measures following a recession marked by the indebtedness of “families, businesses, financial institutions, and states,” the president of the Vatican Bank foresees an end to the “delocalization” of industrial production.

“Europe and the United States, after years of productive delocalization must now be reindustrialized in order to sustain internal employment and to rediscover new competition,” writes Ettore Gotti Tedeschi.

Editorial: The strategy of solidarity (L'Osservatore Romano)

[Cronos]

The fact is that the Vatican is the seat of the Church is not related to the fact that the city-state of the Vatican is a nation state, just as Monaco is, just as Israel is. So, just as if the head of the national bank of Israel makes a pronouncement, it is not a commentary on Judaic religion, neither is, as in this case, a statement by the BANK president of the national bank of the Vatican city state a commentary of any religiou nature.