Skip to comments.Vatican Bank President Calls for Reindustrialization of US, Europe
Posted on 02/27/2012 10:09:05 AM PST by 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)
(Excerpt) Read more at catholicculture.org ...
Where is Europe, whose population is disappearing, going to find the bodies, the willing bodies, for massive “reindustrialization”.
Besides, I think the German’s in particular would dispute the notion that THEY have “deindustrialized”. If places like Greece want to “reindustrialize” they can change laws, taxes, regulations and labor rates that will tell capital investors they are again a good place to invest. For some time, those conditions in Greece have been signaling to too many Greeks themselves that they ought to invest elsewhere. Theological institutions should stick to theology.
"Global world"? Who knew?
This article states a noble, yet inarticulate, ideal. Yes. US and Europe should start making things again. But can the goal be taken seriously without addressing the problem of the high union wages and benefits which drove the industries overseas in the first place?
Does anybody really think "ah, we need more industry over here; oh waiter! I'll have an order of industry and a side of mining", is all that is needed here?
there is massive unemployment in the EU — 10 to 20% with most young being unemployed. This is where there is place for young in industry. Also note that many industries that were once labor intensive are no longer so — automation has taken away more jobs than China...
Secondly, i doubt Greece ever industrialized at all. It missed that revolution being under the Ottoman yoke.
Finally, this is not the Vatican speaking, not any official religious announcement, but the bank of the city-state of the Vatican. It’s just like Bernanke or the Deutsche Bank President speaking — as the financial lead banker of a state
If it’s not really the Vatican, then the Vatican should get out of the pretense of secular power and sell the bank in an IPO, or since that it would be a lie, it should admit it seeks secular power itself and admit that the statements of IT’S bank are as much a part of its religious mission as any other statements that come from any other VATICAN entity.
Can anyone imagine anyone in this forum reading about a statement from the “Mormon Bank” and believing any suggesttion that it has nothing to do with the Morman church??? Not on your life.
“It missed that revolution being under the Ottoman yoke.”
you seem to be far behind on your history
Once, a long time ago it is told, that a bunch of mice got together and decided to hang a bell around the cats neck...
This was a statement by the president of a national bank, not by the religious authorities in the Vatican
Not really, you need to read some history, or indeed, something else beside the penny shocker papers.
Things I’ve learned on FR: Catholic bishops and Vatican officials are poorly catechized and don’t speak for the Catholic Church, which has “no controlling central authority”!
which has no controlling central authority!
You read too much fiction.
A Church that creates a state for itself is either not a Church or the state is not state but an arm of the Church.
Do read something before embarassing yourself. The state was created out of the unification of Italy and even the earlier version was an attempt at stability while the Lombards, etc. were invading..
This statement was by a State federal president, not a religious pronouncement --> if Ben Bernanke makes a statement, it is not a teaching on the constitution.....
or, if the President of the Bank of Israel makes some statement, it is not some religious proclamation of Judaism..
So it is your contention that the Vatican is a secular state?
“The state was created out of the unification of Italy”
“and even the earlier version was an attempt at stability while the Lombards”
stability? secular or religious?
Stability secular — go and read something before shooting incorrect opinions