Information service of the Pontifical Mission Societies since 1927
Geneva (Agenzia Fides) – The severe economic crisis, whose effects are being felt worldwide, is especially hitting developing nations and as a consequence runs the risk of placing the UN-established Millennium Goals for fighting poverty out of reach. And that is not all: the world's children are among those who must suffer the consequences of this financial “earthquake,” and therefore, according to the Magisterium of Benedict XVI, there is a need to integrate ethics at the basis of all economic and financial undertakings.
Highlighting the various consequences that derive from this difficult and persistent state of the economy, was Archbishop Silvano Tomasi, Permanent Observer of the Holy See to the UN in Geneva (Switzerland). The Archbishop recently gave an address during the special session of the Human Rights Council on the world economic crisis. Archbishop Tomasi mentioned the risks that the crisis, extended in so many regions of the world, presents to democracies and human rights: “All too often, periods of severe economic hardship have been characterized by the rise in power of governments with dubious commitments to democracy.” “The Holy See prays that such consequences will be avoided in the present crisis, since they would result in a serious threat for the diffusion of basic human rights for which this institution has so tenaciously struggled,” he added. The Archbishop mentioned that the risks to democracy and human rights are “another consequence of the global economic crisis that could be particularly relevant for the mandate of the United Nations.” The Holy See's Observer then expressed the hope that the most devastating consequences of the crisis underway could be headed off, as they are a serious threat to the Millennium Goals against poverty and are having drastic effects especially on children. The human rights of countless persons, he said, are already in jeopardy, including the rights to food, water, health, and decent employment. “The last fifty years have witnessed some great achievements in poverty reduction,” the Holy See representative mentioned in his speech. He then added: “these achievements are at risk, and a coherent approach is required to preserve them through a renewed sense of solidarity, especially for the segments of population and for the countries more affected by the crisis.” “Old and recent mistakes will be repeated, however, if concerted international action is not undertaken to promote and protect all human rights and if direct financial and economic activities are not placed on an ethical road that can prioritize persons, their productivity and their rights over the greed that can result from a fixation on profit alone.” As for the origins of the present economic and financial crisis, Archbishop Tomasi mentioned that: “the crisis was caused, in part, by problematic behavior of some actors in the financial and economic system, including bank administrators and those who should have been more diligent in monitoring and accountability systems; thus they bear much responsibility for the current problems. The causes of the crisis, however, are deeper.” “There are economic, juridical and cultural dimensions of the present crisis. To engage in financial activity cannot be reduced to making easy profits, but also must include the promotion of the common good among those who lend, those who borrow, and those who work,” the Archbishop continued. Then, quoting Benedict XVI, he added: “The lack of an ethical base has brought the crisis to low, middle and high income countries alike. The Delegation of the Holy See calls for renewed 'attention to the need for an ethical approach to the creation of positive partnerships between markets, civil society and States.'”
Among the statistics released in these days, which are cause for particular concern, are those issued by Geneva, by the International Labor Organization which registers a total of 325,000 layoffs since August 2007. Nearly 40% of them, 130,000 workers, were laid off between October 2008 and February 12, 2009. Thus, the crisis is being felt not only in the industrial/manufacturing companies, but among the weakest in society, such as the immigrant workers. In the financial sphere, there has been a staggering drop in unemployment. The especially hard-hit areas have been the world financial hubs such as London and New York. Worldwide, there are over 20 million people working in the sector, today at risk for losing their jobs. (Mtp) (Agenzia Fides 25/2/2009)
